October 18, 2018

Webster’s 3Q net rises

PHOTO | Steve LASCHEVER
PHOTO | Steve LASCHEVER
Webster CEO John R. Ciulla.

Waterbury regional lender Webster Financial posted higher third-quarter net earnings.

For three months ended Sept. 30, the parent of Webster Bank and Wisconsin health-savings depository HSA Bank said Thursday it netted, after paying preferring dividends, $97.5 million, or $1.06 a diluted share, up from $62.4 million, 67 cents a share, netted the same quarter a year ago.

But for nearly $3 million in accruals for deposit-insurance assessments and $8.5 million in tax benefits for the quarter, diluted earnings per share for the quarter would have been 98 cents, CEO John R. Ciulla said.

Webster ended the quarter with assets of $27.3 billion vs. $26.4 billion.

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