Webster Financial (WBS) Reports In-Line Q4 EPS
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Webster Financial (NYSE: WBS) reported Q4 EPS of $0.55, in-line with the analyst estimate of $0.55.
"Webster's record net income for the fourth quarter and full year 2015 showcase our sustained progress in executing growth strategies that maximize value to customers and shareholders," said James C. Smith, chairman and chief executive officer. "Record quarterly loan originations and net interest margin expansion helped produce our 25th consecutive quarter of year-over-year core revenue growth. Record full year 2015 loan originations of $5.6 billion were 19 percent higher than a year ago, as Webster bankers excelled in service to our customers and communities."
Highlights for the fourth quarter of 2015 compared to the fourth quarter of 2014:
- Record quarterly pre-provision net revenue of $90.3 million, an increase of 4.2 percent.
- Loan growth of $1.8 billion, or 12.8 percent, with double-digit growth in commercial, commercial real estate and residential mortgage loans.
- Deposit growth of $2.3 billion, or 14.7 percent, primarily reflecting HSA Bank's strong organic growth and its January 2015 acquisition.
- Record core revenue of $233.6 million, an increase of 9.1 percent, including a record level of net interest income of $173.3 million.
- Efficiency ratio of 59.87 percent represents the eleventh consecutive quarter at or below 60 percent.
- Annualized return on average tangible common shareholders' equity of 11.99 percent.
"We've now achieved eleven consecutive quarters with the efficiency ratio at or below 60 percent," said Glenn MacInnes, executive vice president and chief financial officer. "We've accomplished this even as we continue to invest in our future."
For earnings history and earnings-related data on Webster Financial (WBS) click here.
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