secwatch.observer — SEC 8-K summary
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Issuer:     WEBSTER FINANCIAL CORP (WBS)
CIK:        0000801337
Form:       8-K
Filed at:   2024-04-23T23:59:59+00:00
Accession:  0000801337-24-000010
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Webster Q1 GAAP EPS $1.23, adjusted $1.35; revenue $667.1M; NIM 3.35%
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- Net income $212.2M ($1.23 diluted) vs $216.8M ($1.24) a year ago; adjusted EPS $1.35.
- Revenue $667.1M; net interest income $567.7M; net interest margin 3.35% (down 7 bps QoQ).
- Loan balance $51.1B (+0.7% QoQ); deposits $60.7B ( $36.5M QoQ) but core deposits +$1.5B.
- Provision for credit losses $45.5M; net charge-offs $37.5M (0.29% of avg loans); NPLs $283.6M (0.56%).
- CET1 ratio 10.51%; tangible common equity ratio 7.15%; efficiency ratio 45.25%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/801337/000080133724000010/0000801337-24-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/801337/000080133724000010/wbs-20240423.htm
  HTML page:      https://secwatch.observer/filing/0000801337-24-000010

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer