earnings
confidence high
sentiment positive
materiality 0.75
Webster Q2 GAAP EPS $1.00, adjusted $1.29; revenue $607.6M on Sterling merger
WEBSTER FINANCIAL CORP
2022-Q2 EPS reported
$0.97
revenue$135,725,000
- Net income available to common shareholders $178.1M ($1.00 diluted EPS); adjusted EPS $1.29 excluding $66.5M merger costs.
- Total revenue $607.6M; net interest income $486.7M, net interest margin 3.28%.
- Period-end loans $45.6B (+$22.1B YoY), deposits $53.1B (+$24.3B YoY), largely from Jan 31 Sterling merger.
- Provision for credit losses $12.2M vs benefit $21.5M a year ago; net charge-offs $9.6M (0.09% annualized).
- CET1 ratio 11.04%; repurchased $100M in shares during the quarter.