Webster Financial Q2 Profit Matches Estimates - Quick Facts

(RTTNews) - Webster Financial Corp. (WBS), the holding company for Webster Bank, N.A., reported that its second-quarter net income available to shareholders increased to $43.7 million, or $0.48 per share, from $40.6 million, or $0.44 per share, last year.

On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.48 for the quarter. Analysts' estimates typically exclude special items.

Net interest income was $147.06 million compared to $144.38 million a year ago. Total noninterest income increased to $52.25 million from $47.35 million prior year. Analysts expected revenue of $147.84 million for the quarter. Webster said it delivered solid quarterly performance, marked by higher loan originations, strong revenue growth, further gains in operating efficiency and improved asset quality.

James Smith, Chairman and Chief Executive Officer, said: "Core revenue growth exceeded 5% as net interest income reached its highest level ever, and expenses declined year over year. Looking ahead, our loan pipeline remains strong and is a positive indicator for the region's economic prospects."