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 (NYSE: WBS) news hub provides investors and stakeholders with essential updates from this leading Northeast financial institution. Track official announcements including quarterly earnings, strategic partnerships, leadership changes, and regulatory developments through our curated collection of press releases and verified news sources.
This resource simplifies monitoring of WBS's commercial banking initiatives, HSA Bank innovations, and consumer financial solutions across Connecticut, New York, Massachusetts, Rhode Island, and Pennsylvania. Discover how Webster's customer-first approach and ethical banking practices translate into operational decisions through transparent reporting.
Key updates include dividend declarations, community reinvestment programs, digital banking enhancements, and wealth management service expansions. Bookmark this page for direct access to primary source materials from Webster Financial, ensuring you stay informed about one of New England's most trusted financial institutions.
Webster Financial Corporation (NYSE: WBS) reported Q3 2020 earnings of $66.9 million, or $0.75 per diluted share, down from $91.4 million, or $1.00 per diluted share in Q3 2019. Revenue stood at $294.3 million with a loan growth of 11.8%, driven primarily by commercial real estate. Total deposits grew 15.6% to $26.9 billion. The company reported a provision for credit losses of $22.8 million, with nonperforming loans at 0.74%. Despite a decline in net interest margin to 2.88%, efficiency ratio improved to 60.0%. Management highlighted the ongoing support for customers amid COVID-19 challenges.
HSA Bank, a division of Webster Bank, and MyHealthMath co-sponsor an upcoming webinar on utilizing Health Savings Accounts (HSAs) to promote health and wealth equity. Scheduled for October 20, 2020, at 1 p.m. CT, the event aims to educate employers on strategies to enhance HSA enrollment and provide equitable benefits. Key speakers include Dr. Elizabeth Coté and Kevin Robertson. HSA Bank, with $9.0 billion in total assets, has been a leader in consumer-directed healthcare for over two decades, serving 3 million members.
Webster Bank announces that Aimee Barricelli, Chief Information Security Officer, has been named 2020 Chief Information Security Officer of the Year by the American Cyber Awards. This recognition highlights her leadership in cyber security, achieving a compliant and secure environment while enhancing customer experience. Since joining Webster in 2018, Barricelli has led strategies that align security goals with business objectives. Her team previously earned a CSO50 Award for outstanding security initiatives.
Webster Financial Corporation (NYSE: WBS) announced its third-quarter 2020 earnings release and conference call details. The earnings report is scheduled for October 22, 2020, at approximately 7:30 a.m. Eastern Time, followed by a conference call at 9:00 a.m. Eastern Time. Investors can dial in at 877-407-8289 or access a webcast via Webster's Investor Relations website. A replay of the call will be available starting at 11:00 a.m. on the same day for one week. Webster Bank has assets totaling $32.7 billion.
HSA Bank, a division of Webster Bank, announced a $10,000 donation to support COVID-19 efforts at two Wisconsin hospitals: Ascension Columbia St. Mary's and HSHS St. Nicholas Hospital. Each hospital will receive $5,000 for personal protective equipment and essential supplies. This contribution is part of the Protect the Heroes initiative aimed at addressing healthcare shortages. Earlier this year, HSA Bank donated $35,000 to local nonprofits affected by the pandemic, demonstrating a commitment to community support during crisis periods.
Webster Bank has donated $5,000 to the East Coast Greenway Alliance for the second consecutive year, aimed at maintaining trails in Connecticut and Rhode Island. This investment supports trail maintenance and amenities, addressing increased traffic and cleanup costs due to Tropical Storm Isaias. The donation was part of Webster's partnership with the Hartford Marathon Foundation, where it pledged $10 for each participant in the HMF Evergreen Adventure.
In total, Webster has committed $143 million for renewable energy initiatives.
Webster Bank announced that David Coppola, senior vice president and regional sales manager at Webster Investments, has been appointed to the Advisor Inclusion Council of LPL Financial. This council, formed in 2018, aims to enhance diversity and inclusion in the financial advisory sector. Coppola’s role will involve providing guidance to LPL leaders on inclusive business practices. The statement emphasized Webster's commitment to diversity, with support from LPL to attract a broader advisor base and improve advisory services for diverse investor markets.
Webster Financial Corporation (NYSE: WBS) reported a Q2 2020 net income of $50.7 million, down from $96.2 million in Q2 2019. Earnings per share were $0.57, compared to $1.05 a year ago. The provision for credit losses surged to $40 million, reflecting economic uncertainties. Revenue reached $284.5 million, supported by a 13.1% loan growth of $2.5 billion, particularly in commercial banking. Notably, deposit growth was 16.6%, totaling $3.8 billion. The Common Equity Tier 1 capital ratio now exceeds 11%, demonstrating solid capital management amid challenges.
Webster Bank has launched the Frontline Heroes program, offering financial benefits to healthcare workers and first responders amid the COVID-19 pandemic. The program includes free checking accounts and ATM withdrawals until December 2021, alongside cash incentives for new customers. For each new customer, Webster will donate $250 to United Way COVID-19 Response Funds, committing a minimum of $100,000. This initiative aims to acknowledge the sacrifices made by essential workers during the pandemic.
Webster Financial Corporation (NYSE: WBS) is set to release its second quarter 2020 earnings on July 23, 2020, at approximately 7:30 a.m. Eastern. A conference call will follow at 9:00 a.m. Eastern. Investors can join via a dial-in number: 877-407-8289 or 201-689-8341 for international callers. A webcast will be available on Webster's Investor Relations website. The replay will be accessible shortly after the call, and a telephone replay service will also be available for one week from 11:00 a.m. on July 23.
