Webster Q2 2024 EPS $1.03 (down from $1.32); adj $1.26; loans up 0.9% QoQ

WEBSTER FINANCIAL CORP

2024-Q2 EPS reported $2.26 revenue$1,281,687,000

Net income available to common $177.5M, EPS $1.03; adjusted EPS $1.26 (excl $49.9M securities repositioning loss).
Revenue $614.6M; NII $572.3M, NIM 3.32% (down 3 bps QoQ).
Loans $51.6B (+0.9% QoQ), deposits $62.3B (+2.5% QoQ); core deposits 87.5% of total.
Provision for credit losses $59.0M, net charge-offs $33.1M; NPLs $368.8M (0.72% of loans, up from 0.56% prior qtr).
CET1 ratio 10.62%; tangible common equity ratio 7.18%; ROTCE 14.17% (adjusted 17.15%).

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