Welcome to our dedicated page for Webster Financial news (Ticker: WBS), a resource for investors and traders seeking the latest updates and insights on Webster Financial stock.
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 Investments announced that Samie Seyal, a sales support specialist, has been named a 2021 Rising Star by the Bank Insurance and Securities Association (BISA). This recognition is part of BISA's exclusive program aimed at fostering leadership in young professionals committed to diversity, equity, and inclusion in finance. Seyal has been with Webster for five years, spending two years in the Webster Investments team. BISA will honor the Rising Stars at its annual convention in Hollywood, Florida, in July.
Webster Bank has reaffirmed its commitment to promoting diversity, equity, and inclusion in the workplace. In observance of Juneteenth in 2021, the bank will invest in organizations focused on racial equity and social justice, including the Equal Justice Initiative and YWCA of Southeastern Wisconsin. Additionally, Webster Bank is a Silver Circle sponsor for the 2021 Juneteenth Virtual Celebration. With $33.3 billion in assets, Webster offers diverse banking services while actively engaging in community support for racial equity.
Webster Financial Corporation (NYSE: WBS) has declared a quarterly cash dividend of $0.40 per share on its common stock, payable on May 19, 2021, to shareholders of record on May 5, 2021. Furthermore, a quarterly cash dividend of $328.125 per share on its Series F Preferred Stock will be paid on June 15, 2021, to shareholders of record on June 1, 2021. With $33.3 billion in assets, Webster offers a range of banking services through its various divisions.
Webster Financial Corporation (WBS) reported a significant earnings growth for Q1 2021, with a net income of $105.5 million ($1.17 per diluted share), up from $36.0 million ($0.39) a year ago. Revenue reached $300.5 million, driven by a 2.0% increase in loans and a 16.2% rise in deposits. The bank originated $533.0 million in PPP loans. However, it incurred $9.4 million in charges for strategic optimization. The net interest margin was 2.92%, showing compression due to liquidity, while credit quality improved, allowing for a $25.8 million benefit in provisions for credit losses.
Webster Financial Corporation (NYSE: WBS) and Sterling Bancorp (NYSE: STL) announced a definitive agreement for an all-stock merger of equals, valued at approximately $10.3 billion. Under the agreement, Sterling shareholders will receive an exchange ratio of 0.463 Webster shares for each Sterling share. Upon completion, Webster shareholders will hold 50.4% and Sterling shareholders 49.6% of the combined entity. The merger aims to create a $63 billion bank with strong revenue growth potential, enhanced profitability, and a robust deposit franchise, with a focus on commercial and consumer banking.
Webster Financial Corporation (NYSE: WBS) announced its earnings release and conference call details for Q1 2021. The earnings release is scheduled for April 20, 2021 at approximately 7:30 a.m. (Eastern), followed by a conference call at 9:00 a.m. (Eastern). Investors can join via phone or through a webcast available on Webster’s Investor Relations website. The replay will be accessible post-call and for one week after the call. With $32.6 billion in assets, Webster Bank provides various financial services, including banking, mortgages, asset-based lending, and health savings accounts.
Webster Bank announced that Chris Perry, Senior VP and Managing Director for Webster Wealth Advisors, has been recognized as a Five Star Wealth Manager in Connecticut for the eighth consecutive year. This accolade highlights his commitment to client service and enhances Webster's reputation. The Five Star Program, a prestigious financial services award in North America, evaluates wealth managers on various criteria, including experience and assets under management. Webster Bank holds $32.6 billion in assets, providing a range of banking services through 155 centers.
Webster Financial Corporation (NYSE: WBS) has announced its 2021 annual meeting of shareholders, scheduled for April 22, 2021, at 4:00 p.m. EDT. The meeting will be held in a virtual-only format, with the record date for shareholders eligible to vote set for February 25, 2021. Additional details on accessing the meeting will be included in the company's proxy statement. With assets totaling $32.6 billion, Webster offers a range of banking services, including business and consumer banking, mortgages, and investment services.
Webster Bank has achieved an "Outstanding" rating from the Office of the Comptroller of the Currency (OCC) in its Community Reinvestment Act (CRA) Performance Evaluation, marking the second consecutive time receiving this top rating. The evaluation, covering transactions from 2017 to 2019, highlighted excellent lending, impactful community development investments, and outreach to low- and moderate-income communities in Connecticut, Massachusetts, Rhode Island, and New York. Webster aims to promote responsible banking and enhance community reinvestment.
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