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Webster Q3 Profit Up, Matches Estimates - Quick Facts

Webster Financial Corp. (WBS: Quote), the holding company for Webster Bank, N.A., Friday reported a slight increase in net income for the third quarter, with an increase in net interest income. Earnings per share matched the Street estimates.

Net income available to shareholders was $44.6 million or $0.49 per share, compared with $44.3 million or $0.48 per share during the same quarter last year.

On average, sixteen analysts polled by Thomson Reuters expected earnings per share of $0.49 for the quarter. Analysts' estimates typically exclude one-time items.

Net interest income for the quarter increased to $149.9 million, from prior year's $144.8 million. The Street expected the company to generate revenues of $149.73 million for the quarter.

"Notable milestones in the quarter included record net interest income once again and stellar performance in our health savings account business whose footings crossed $2 billion. Looking ahead, our strong commercial loan pipeline bodes well for the region's economic recovery and future performance." said James Smith, chairman and chief executive officer.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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