Webster Financial (WBS) Misses Q1 EPS by 9c

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Go back to Webster Financial (WBS) Misses Q1 EPS by 9c

Webster Reports First Quarter 2023 EPS of $1.24; Adjusted EPS of $1.49

April 20, 2023 7:30 AM EDT

STAMFORD, Conn.--(BUSINESS WIRE)-- Webster Financial Corporation ("Webster") (NYSE: WBS), the holding company for Webster Bank, N.A. and its HSA Bank division, today announced net income available to common stockholders of $216.8 million, or $1.24 per diluted share, for the quarter ended March 31, 2023, compared to net (loss) available to common stockholders of $(20.2) million, or $(0.14) per diluted share, for the quarter ended March 31, 2022.

First quarter 2023 results include $56.6 million pre-tax ($42.3 million after tax), or $0.251 per diluted share, of charges related to the merger with Sterling Bancorp on January 31, 2022 ("the merger") and balance sheet repositioning.... More