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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) has announced an increase in its prime lending rate from 6.25% to 7.00%, effective November 3, 2022. This decision reflects the company's strategic adjustments in response to market conditions. Webster, headquartered in Stamford, CT, operates with $69.1 billion in assets and offers a range of financial solutions through its Commercial Banking, Consumer Banking, and HSA Bank divisions. The increase in the prime rate indicates a potential shift in borrowing costs for consumers and businesses at a time of economic fluctuations.
Webster Financial Corporation (NYSE: WBS) announced a quarterly cash dividend of $0.40 per share on its common stock, payable on November 14, 2022, to shareholders of record as of November 4, 2022. Additionally, it declared dividends on Series F Preferred Stock of $328.125 per share, payable on December 15, 2022, and on Series G Preferred Stock of $16.25 per share, payable on January 15, 2023. The company manages $69.1 billion in assets and operates across the northeastern U.S.
Webster Financial Corporation (NYSE: WBS) reported net income of $229.8 million, or $1.31 per diluted share, for Q3 2022, surpassing $93.7 million, or $1.03 per diluted share, from Q3 2021. Excluding merger-related expenses of $36.8 million, earnings per diluted share would have been $1.46. Total revenue reached $664.6 million, with a loan balance of $47.8 billion and deposits of $54.0 billion. The bank emphasized ongoing integration post-merger with Sterling Bancorp, resulting in significant revenue growth across its divisions.
Webster Financial Corporation (NYSE: WBS) announced the details for its third quarter 2022 earnings release and conference call scheduled for October 20, 2022. The earnings release will be available at approximately 7:30 a.m. Eastern, followed by a conference call at 9:00 a.m. Eastern. Investors can access the call via telephone or webcast on Webster's Investor Relations website. A replay of the conference call will be available shortly after the call's completion for one week. Webster Financial is a leading commercial bank in the Northeast with $68 billion in assets.
Webster Financial Corporation (NYSE: WBS) has increased its prime lending rate from 5.50% to 6.25%, effective Sept. 22, 2022. This adjustment reflects the bank's response to current economic conditions. Headquartered in Stamford, CT, Webster offers a wide range of financial services across its divisions, including Commercial Banking and HSA Bank, which is a significant player in employee benefits solutions. With approximately $68 billion in assets, Webster aims to enhance its service offerings while navigating the evolving market landscape.
Webster Financial Corporation (NYSE: WBS) has announced an increase in its prime lending rate from 4.75% to 5.50%, effective from July 28, 2022. This decision reflects the bank's response to current economic conditions and is aimed at aligning its lending practices with the market. As a significant player in the Northeast financial landscape, Webster, with $68 billion in assets, continues to offer a wide range of financial solutions across its three main business lines: Commercial Banking, Consumer Banking, and HSA Bank division.
Webster Financial Corporation (NYSE: WBS) reported a net income of $178.1 million ($1.00 per diluted share) for Q2 2022, a significant increase from $92.1 million ($1.01) in Q2 2021. The results include $66.5 million in merger-related costs. Excluding these, earnings would be $1.29 per diluted share. Revenue reached $607.6 million, driven by strong loan growth, with commercial loans comprising 80% of total loans. The common equity tier 1 ratio stood at 11.04%, and share repurchases totaled $100 million.
Webster Financial Corporation (NYSE: WBS) announced a quarterly cash dividend of $0.40 per share on its common stock, payable on August 17, 2022, to shareholders of record by August 2, 2022. Additionally, a quarterly cash dividend was declared on Series F Preferred Stock at $328.125 per share, payable on September 15, 2022. For Series G Preferred Stock, the quarterly dividend is set at $16.25 per share, payable on October 15, 2022. The company maintains over $65 billion in assets and operates primarily in the Northeast U.S.
Webster Financial Corporation (NYSE: WBS) has announced the schedule for its second quarter 2022 earnings release and conference call. The earnings release is set for July 21, 2022, at 7:30 a.m. (Eastern), followed by a conference call at 9:00 a.m. (Eastern). Investors can access the call via Webster's Investor Relations website and a replay will be available shortly after the call. Webster Financial Corporation is a leading commercial bank in the Northeast with over $65 billion in assets and offers a wide range of financial solutions.
Webster Financial Corporation (NYSE: WBS) has announced a change in its prime lending rate, increasing it from 4.00% to 4.75%, effective June 16, 2022. This adjustment reflects the bank's strategic response to market conditions and aims to align its lending rates with current financial trends. Webster Financial operates primarily in the Northeast, providing both traditional and digital banking solutions and managing over $65 billion in assets. The company's divisions include Commercial Banking, Consumer Banking, and HSA Bank, a leading provider of employee benefits solutions.
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