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Webster Financial Q4 Profit Rises

Webster Financial Corp. (WBS), the holding company for Webster Bank, N.A. and its HSA Bank division, reported that its earnings applicable to common shareholders for the fourth-quarter ended December 31, 2018 rose to $96.7 million, or $1.05 per share from $67.7 million or $0.73 per share last year.

Adjusting for $4.6 million related to a gain on the sale of six banking centers, earnings per share would have been $1.01.

Revenue of $310.3 million, an increase of 14.5 percent, including net interest income of $237.1 million, an increase of 15.7 percent.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.98 per share and revenues of $236.55 million. Analysts' estimates typically exclude special items.

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