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Webster Reports Second Quarter 2021 Earnings Of $1.01 Per Diluted Share

Webster Reports Second Quarter 2021 Earnings Of $1.01 Per Diluted Share
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Webster Reports First Quarter 2021 Earnings Of $1.17 Per Diluted Share

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WATERBURY, Conn., April 19, 2021 /PRNewswire/ Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, N.A. and its HSA Bank division, today announced earnings applicable to common shareholders of $105.5 million, or $1.17 per diluted share, for the quarter ended March 31, 2021, compared to $36.0 million, or $0.39 per diluted share, for the quarter ended March 31, 2020. Earnings per diluted share would have been $1.25 for the quarter ended March 31, 2021, adjusting for $9.4 million ($6.9 million after tax) of charges related to strategic optimization initiatives.
We continued to make meaningful progress on our strategic initiatives during a solid first quarter, said John R. Ciulla, chairman and chief executive officer. Our focus remains on delivering for our customers, communities, bankers and shareholders. ....

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Webster Reports Fourth Quarter 2020 Earnings of $0.64 Per Diluted Share

35.9
Note: In 1Q20, segment net interest income was updated to reflect changes in the funds transfer pricing methodology related to allocated capital. The prior period has been restated to reflect the change.
Pre-tax, pre-provision net revenue increased $9.8 million to $80.9 million in the quarter as compared to prior year. Net interest income increased $12.1 million to $112.3 million, primarily driven by loan and deposit growth. Non-interest income increased $0.9 million to $17.3 million as a result of higher loan related fees. Non-interest expense increased $3.2 million to $48.7 million, primarily due to compensation related expense.
HSA Bank
Webster s HSA Bank division offers a comprehensive consumer-directed healthcare solution that includes health savings accounts, health reimbursement arrangements, flexible spending accounts and commuter benefits. Health savings accounts are distributed nationwide directly to employers and individual consumers, as well as th ....

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