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Webster Financial Corporation, headquartered in Waterbury, Connecticut and traded under the symbol WBS, is a comprehensive financial services provider. Established in 1935, Webster Bank, N.A., a principal subsidiary, offers a wide range of banking solutions, including commercial and consumer banking, mortgages, investment advisory, trust, and wealth management services. This institution caters to individuals, families, and businesses across Connecticut, New York, Rhode Island, Massachusetts, and Pennsylvania.
Webster operates through three key segments: Commercial Banking, HSA Bank, and Consumer Banking. The Commercial Banking segment is the largest revenue generator, offering tailored financial solutions to businesses of all sizes. The HSA Bank segment offers health savings accounts to individuals and businesses, while the Consumer Banking segment provides a broad spectrum of financial products to everyday consumers, including personal loans, credit cards, and deposit products.
The company prides itself on living up to its promise of understanding and addressing what matters most to its customers and communities. Webster Financial Corporation emphasizes values such as responsibility, respect, ethical behavior, citizenship, and teamwork, collectively known as the Webster Way. These guiding principles ensure that the company consistently puts people first, helping them achieve their financial goals and build fulfilling lives.
In recent years, Webster has achieved notable milestones, including strategic partnerships and technological advancements that enhance customer experience. The company's robust financial condition is reflected in its continual growth and the trust it has built within the community.
For the latest updates and relevant information about Webster Financial Corporation's performance and developments, visit our news section regularly.
Webster Financial Corporation (NYSE:WBS) announced a quarterly cash dividend of $0.40 per share on common stock, payable on May 27, 2022, to shareholders of record by May 12, 2022. Additionally, quarterly dividends were declared for Series F and G Preferred Stock, set at $328.125 and $16.25 per share, respectively. These will be payable on June 15, 2022, and July 15, 2022. Webster, headquartered in Stamford, CT, has assets of $65 billion and operates across the northeastern U.S., focusing on commercial and consumer banking solutions.
Webster Financial Corporation (NYSE: WBS) reported a net loss of $20.2 million, or $0.14 per diluted share, for Q1 2022, a significant drop from a profit of $106.1 million, or $1.17 per share, in Q1 2021. The results were heavily impacted by $279.5 million in merger-related expenses due to the recent merger with Sterling Bancorp, which closed on January 31, 2022. Revenue reached $498.3 million, boosted by strong underlying business trends and expanded operations. The company announced an additional $600 million share repurchase authorization.
Webster Financial Corporation (NYSE: WBS) will release its first quarter 2022 earnings on April 28, 2022, at approximately 7:30 a.m. (Eastern). A conference call will follow at 9:00 a.m. (Eastern). Participants can join via dial-in at 877-407-8289 or 201-689-8341 for international calls. The call will also be accessible via webcast on the company's Investor Relations website. A replay will be available for a week after the call, starting at 12:00 noon (Eastern) on April 28.
Webster Financial Corporation (NYSE: WBS) has announced a quarterly cash dividend of $16.25 per share on its Series G Preferred Stock, payable on April 18, 2022. Shareholders of record on April 8, 2022 will receive $0.40625 for each depositary share. Headquartered in Stamford, CT, Webster manages over $65 billion in assets and is a leading commercial bank in the Northeast, providing financial solutions through its Commercial and Consumer Banking sectors, alongside its HSA Bank division.
Webster Financial Corporation (NYSE: WBS), based in Stamford, CT, announced an increase in its prime lending rate from 3.25% to 3.50%, effective March 17, 2022. This adjustment reflects the bank's response to economic conditions and the need to align its lending practices accordingly. Webster Bank, a prominent commercial bank in the Northeast with $65 billion in assets, operates across various financial sectors, including Commercial, Consumer Banking, and HSA Bank services.
Webster Financial Corporation (NYSE: WBS) has announced its 2022 annual meeting of shareholders, set for April 28, 2022, at 4:00 p.m. EDT, to be conducted virtually. Shareholders must be registered by March 3, 2022 to participate. The proxy statement will provide further details on accessing the meeting. Webster, headquartered in Stamford, CT, operates across three business lines: Commercial Banking, Consumer Banking, and HSA Bank, with total assets exceeding $65 billion. The meeting underscores the company's commitment to shareholder engagement and transparency.
Webster Financial Corporation (NYSE: WBS) has entered into a definitive agreement to acquire Bend Financial, a leader in cloud-based health savings account (HSA) solutions. This acquisition aims to enhance HSA Bank's capabilities by leveraging Bend's innovative technology to improve the digital experience for clients. As of December 31, 2021, HSA Bank reported $11.1 billion in total footings. The acquisition supports HSA Bank's mission to simplify healthcare savings for its three million members nationwide, reinforcing its position in the competitive healthcare finance market.
Webster Financial Corporation (NYSE: WBS) announced the acquisition of Bend Financial, Inc., a cloud-based HSA platform provider, aiming to enhance HSA Bank's client experience with advanced technology. Bend will continue its operations while integrating its user-centric offerings to benefit HSA Bank consumers. This move is expected to accelerate Webster's goal of simplifying healthcare savings for consumers. The transaction's terms were undisclosed, with completion anticipated in Q1 2022.
Webster Financial Corporation (NYSE: WBS) and Sterling Bancorp have completed their merger, establishing one of the largest commercial banks in the Northeast with approximately $65 billion in assets and $53 billion in deposits. The merger enhances Webster's funding base, including its HSA Bank division, and expands its geographic footprint. Shareholders of Sterling received 0.4630 shares of Webster common stock for each share held. The new headquarters is in Stamford, CT, with a commitment to community engagement and improved client experiences.
Webster Financial Corporation (NYSE: WBS) reported earnings of $108.4 million ($1.20 per diluted share) for Q4 2021, a significant increase from $57.7 million ($0.64 per share) in Q4 2020. Full-year earnings reached $398.7 million ($4.42 per share), reflecting strong loan growth of 4.1% and a 7.9% rise in revenue totaling $316.9 million. The company anticipates closing its merger with Sterling soon, aiming to enhance its market position. 2021's net interest margin stood at 2.73%, despite a 0.6% drop in deposits.
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