Webster Financial Corporation (WBS)

Webster Financial Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	3,200	3,072	1,947	762.96	790.49	925.42
Interest Income on Investments	665.24	556.15	338.1	179.89	211.56	229.16
Total Interest Income	3,865	3,628	2,285	942.84	1,002	1,155
Interest Paid on Deposits	1,394	1,021	138.55	20.13	67.9	129.58
Interest Paid on Borrowings	170.3	269.57	111.9	21.62	42.76	69.88
Total Interest Expense	1,564	1,291	250.45	41.76	110.66	199.46
Net Interest Income	2,301	2,337	2,034	901.09	891.39	955.13
Net Interest Income Growth (YoY)	-2.86%	14.89%	125.76%	1.09%	-6.67%	5.34%
Trust Income	32.61	29	40.28	39.59	32.92	32.93
Mortgage Banking Activities	1.24	1.24	0.71	6.22	18.3	6.12
Gain (Loss) on Sale of Investments	-96.16	-33.62	-6.75	-	0.01	0.03
Other Non-Interest Income	164.88	147.7	208.08	114.86	78.03	78.22
Total Non-Interest Income	262.51	313.64	440.78	323.37	285.28	285.32
Non-Interest Income Growth (YoY)	-25.57%	-28.85%	36.31%	13.35%	-0.01%	0.97%
Revenues Before Loan Losses	2,563	2,651	2,475	1,224	1,177	1,240
Provision for Loan Losses	194.5	150.75	280.62	-54.5	137.75	37.8
Revenue	2,369	2,500	2,194	1,279	1,039	1,203
Revenue Growth (YoY)	-7.59%	13.93%	71.58%	23.10%	-13.61%	4.83%
Salaries and Employee Benefits	699.6	657.67	590.52	392.34	416.21	382.78
Occupancy Expenses	33.63	39.25	10.94	23.51	23.67	22.96
Federal Deposit Insurance	111.57	98.08	26.57	15.79	18.32	17.95
Amortization of Goodwill & Intangibles	35.02	36.21	31.94	4.51	4.16	3.85
Selling, General & Administrative	367.68	416.41	319.55	193.6	206.36	189.8
Other Non-Interest Expense	140.64	168.75	147.39	76.69	78.23	98.62
Total Non-Interest Expense	1,388	1,416	1,127	706.45	746.95	715.95
EBT Excluding Unusual Items	980.82	1,084	1,068	572.52	291.97	486.69
Asset Writedown	-	-	-23.1	-1.2	-12	-
Other Unusual Items	0.7	0.7	-	-	-	-
Pretax Income	981.52	1,085	797.98	533.86	279.97	486.69
Income Tax Expense	205.19	216.66	153.69	125	59.35	103.97
Net Income	776.33	867.84	644.28	408.86	220.62	382.72
Preferred Dividends & Other Adjustments	24.5	24.57	21.59	10.18	9.15	9.74
Net Income to Common	751.84	843.27	622.69	398.69	211.47	372.99
Net Income Growth	-16.27%	34.70%	57.58%	85.32%	-42.35%	6.19%
Basic Shares Outstanding	170	172	167	90	90	92
Diluted Shares Outstanding	170	172	168	90	90	92
Shares Change (YoY)	-1.23%	2.59%	85.74%	0.06%	-1.88%	-0.37%
EPS (Basic)	4.42	4.91	3.72	4.43	2.35	4.07
EPS (Diluted)	4.42	4.91	3.72	4.42	2.35	4.06
EPS Growth	-15.54%	32.01%	-15.87%	88.09%	-42.12%	6.56%
Dividend Per Share	1.600	1.600	1.600	1.600	1.600	1.530
Dividend Growth	0%	0%	0%	0%	4.58%	22.40%
Effective Tax Rate	20.91%	19.98%	19.26%	23.41%	21.20%	21.36%

Source: S&P Capital IQ. Banks template. Financial Sources.