Webster Q1 EPS $1.24, adjusted $1.49; revenue $666.0M, net income $216.8M

WEBSTER FINANCIAL CORP

2023-Q1 EPS reported $1.24 revenue$59,715,000

Net income available to common stockholders of $216.8M vs. $(20.2)M loss in Q1 2022.
Adjusted EPS of $1.49 excludes $56.6M pre-tax merger & balance sheet repositioning charges.
Period-end loans up 2.3% linked quarter to $50.9B; deposits up 2.3% to $55.3B.
Net interest margin 3.66%, down 8 bps from prior quarter; provision for credit losses $46.7M.
Common equity tier 1 ratio 10.40%; return on average tangible common equity 17.66%.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

WEBSTER FINANCIAL CORP reported financial results for the quarter ended March 31, 2023.

Period: the quarter ended March 31, 2023
Result: reported results

Exact text from the filing

On April 20, 2023, Webster Financial Corporation (the Company) issued a press release reporting its results of operations for the quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0000801337-23-000016

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