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Webster Q3 Profit Up, Matches Estimates - Quick Facts

Webster Financial Corp. (WBS), 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

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