Friday, Webster Financial Corp. (WBS) said its fourth-quarter net loss available to common shareholders narrowed to $54.40 million from $307.59 million in the prior year period. Net loss attributable to Webster Financial Corp. for the quarter also narrowed to $13.69 million from $300.28 million in the year-ago period. Loss per share for the quarter was $0.84, narrower than $5.91 in the earlier period. On average, 11 analysts polled by Thomson Reuters expected the company to report loss of $0.24 per share for the quarter.
Net interest income after provision for credit losses for the recent quarter increased to $63.48 million from $26.06 million in the comparable period. Total non-interest income for the quarter was $53.45 million compared with a loss of $85.89 million in the previous year. Seven analysts estimated revenues of $180.11 million for the quarter.
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