Webster Q4 2023 Earnings Report
Key Takeaways
Webster Financial Corporation reported a net income available to common stockholders of $181.2 million, or $1.05 per diluted share, for Q4 2023. Adjusted earnings per diluted share were $1.46, excluding charges related to a FDIC special assessment, the merger with Sterling Bancorp, and securities repositioning. The company's revenue reached $634.8 million, and they saw growth in loan and deposit balances.
Reported EPS of $1.05, with adjusted EPS at $1.46 after excluding certain charges.
Revenue totaled $634.8 million for the quarter.
Period-end loan and lease balance increased to $50.7 billion, up 1.3% from the prior quarter.
Period-end deposit balance reached $60.8 billion, a 0.7% increase from the previous quarter.
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Webster Revenue by Segment
Forward Guidance
Webster's management expressed confidence in the company's strong financial position and proactive actions, which they believe will lead to continued success in 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income