Webster Q4 GAAP EPS $1.05, adjusted $1.46; revenue $634.8M; includes $94.7M charges

WEBSTER FINANCIAL CORP

2023-FY EPS reported $4.91 revenue$2,651,606,000

GAAP EPS $1.05; adjusted EPS $1.46; net income $181.2M.
Revenue $634.8M; NIM 3.42% (down 7 bps QoQ); loans $50.7B, deposits $60.8B.
Provision for credit losses $36.0M; net charge-offs $34.0M (0.27% of avg loans); allowance 1.25% of loans.
Results include $94.7M pre-tax charges ($0.41/share) for FDIC assessment, merger costs, securities repositioning.
CET1 ratio 11.12%; tangible book value $32.39/share; return on avg tangible common equity 14.49% (adjusted 19.83%).

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WEBSTER FINANCIAL CORP reported the quarter ended December 31, 2023 results: revenue $634.8 million, net income net income available to common stockholders of $181.2 million, EPS $1.05 per diluted share.

Period: the quarter ended December 31, 2023
Revenue: $634.8 million
Net income: net income available to common stockholders of $181.2 million
EPS: $1.05 per diluted share
Result: reported results

Exact text from the filing

executive officer. "Our strong financial position and proactive actions position us well for continued success in 2024." Highlights for the fourth quarter of 2023: • Revenue of $634.8 million. • Period end loan and lease balance of $50.7 billion, up $0.6 billion or 1.3 percent from prior quarter; 80.7 percent commercial loans and leases, 19.3 percent consumer loans,

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Source: SEC EDGAR

accession 0000801337-24-000003

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