Live Breaking News & Updates on Stamford Based Webster Financial

Stamford-based Webster Financial on Thursday reported a first quarter loss, driven by expenses related to its recent merger with New York’s Sterling Bancorp.

The parent company of Webster Bank said it lost $16.7 million, or  14 cents per share during the quarter, which ended March 31.

Webster said the loss was driven by a $279.5 million pre-tax expense it recorded during the quarter, primarily related to its merger with Sterling. Excluding that expense, the bank said it would have reported profits of $1.24 per share. ....

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