Webster Q4 GAAP EPS $1.01 vs $1.05 YoY; adjusted EPS $1.43; loan growth 1.1% QoQ; NPLs rise to 0.88%

WEBSTER FINANCIAL CORP

2024-FY EPS reported $4.37 revenue$2,590,286,000

GAAP net income $173.6M ($1.01 diluted EPS) includes $56.9M securities loss and $29.4M DTA adjustment; adjusted EPS $1.43 vs $1.46 YoY.
Total revenue $661.0M; net interest income $608.5M (+6.6% YoY) with NIM of 3.39%.
Loans and leases $52.5B, up $0.6B QoQ; deposits $64.8B, up $0.2B QoQ; loan-to-deposit ratio 81.1%.
Provision for credit losses $63.5M; net charge-offs $60.9M (0.47% of avg loans) vs $34.0M (0.27%) a year ago.
Nonperforming loans $461.3M (0.88% of loans) vs $209.5M (0.41%) at Dec 2023; allowance coverage 149% of NPLs.

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