WEBSTER FINANCIAL CORPORATION WBS Income Statement

Webster financial corporation (WBS)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Interest and Dividend Income, Operating [Abstract]
Interest and fees on loans and leases
924,693	842,449	708,566	621,028	552,441	511,612	489,372	484,957	486,883	493,244	537,383	710,621
Taxable interest and dividends on investments
207,294	191,493	181,131	180,346	190,061	189,408	174,579	179,664	182,599	184,571	175,427	124,689
Non-taxable interest on investment securities
21,869	20,597	22,874	19,090	15,948	17,064	21,621	26,456	29,006	29,862	31,203	32,366
Loans held for sale
727	628	1,034	1,449	1,590	857	2,068	2,425	1,235	970	2,077	1,597
Total interest income
1,154,583	1,055,167	913,605	821,913	760,040	718,941	687,640	693,502	699,723	708,647	746,090	869,273
Interest Expense [Abstract]
Deposits
129,577	90,407	62,253	49,858	46,031	44,162	46,582	59,586	80,808	112,629	180,804	250,182
Securities sold under agreements to repurchase and other borrowings
17,953	13,491	14,365	14,528	16,861	19,388	20,800	21,034	16,172	15,900	19,275	34,643
Federal Home Loan Bank advances
31,399	33,461	30,320	29,033	22,858	16,909	16,229	16,943	14,352	17,628	25,286	39,236
Long-term debt
20,527	11,127	10,380	9,981	9,665	10,041	7,301	17,031	24,623	25,219	25,339	39,421
Total interest expense
199,456	148,486	117,318	103,400	95,415	90,500	90,912	114,594	135,955	171,376	250,704	363,482
Net interest income
955,127	906,681	796,287	718,513	664,625	628,441	596,728	578,908	563,768	537,271	495,386	505,791
Provision for credit losses
37,800	42,000	40,900	56,350	49,300	37,250	33,500	21,500	22,500	115,000	303,000	186,300
Net interest income after provision for credit losses
917,327	864,681	755,387	662,163	615,325	591,191	563,228	557,408	541,268	422,271	192,386	319,491
Noninterest Income [Abstract]
Deposit service fees
168,022	162,183	151,137	140,685	135,057	103,431	98,968	96,633	102,795	108,977	119,421	120,132
Loan and lease related fees
31,327	32,025	26,448	26,581	25,594	23,212	21,860	18,043	20,237	20,286	22,177	29,067
Wealth and investment services
32,932	32,843	31,055	28,962	32,486	34,946	34,771	29,515	26,421	24,925	24,000	28,140
Mortgage banking activities
6,115	4,424	9,937	14,635	7,795	4,070	16,359	23,037	4,905	4,169	6,901	1,230
Increase in cash surrender value of life insurance policies
14,612	14,614	14,627	14,759	13,020	13,178	13,770	11,254	10,360	10,517	10,629	10,441
Gain on the sale of investment securities, net
29	0	0	400	609	5,499	712	3,347	3,823	9,748	-13,810	-6,094
Impairment loss on securities recognized in earnings
0	0	126	149	110	1,145	7,277	0	0	-	-	-
Gain on exchange of trust preferreds for common stock
-	-	-	-	-	-	-	-	-	-	24,336	-
Gain on early extinguishment of subordinated notes
-	-	-	-	-	-	-	-	-	-	5,993	-
Net loss on trading securities
-	-	-	-	-	-	-	-	-1,799	12,045	-	-
Total other-than-temporary impairment loss on securities
-	-	-	-	-	-	-	-	-	14,445	40,064	219,277
Less: Portion of loss recognized in other comprehensive income
-	-	-	-	-	-	-	-	-	8,607	11,587	-
Net impairment loss recognized in earnings
-	-	-	-	-	-	-	-	-	5,838	28,477	219,277
Other income
32,278	36,479	26,400	38,591	23,326	18,917	11,887	10,929	10,300	16,396	13,225	8,309
Total non-interest income
285,315	282,568	259,478	264,478	237,777	202,108	191,050	192,758	177,042	201,225	184,395	-28,052
Noninterest Expense [Abstract]
Compensation and benefits
395,402	381,496	356,505	325,998	297,517	270,151	264,835	264,101	262,647	245,343	236,167	239,701
Occupancy
57,181	59,463	60,490	61,110	48,836	47,325	48,794	50,131	53,866	55,634	55,522	53,043
Technology and equipment
105,283	97,877	89,464	79,882	80,813	61,993	60,326	62,210	60,721	62,855	60,926	61,155
Intangible assets amortization
3,847	3,847	4,062	5,652	6,340	2,685	4,919	5,420	5,588	5,588	5,743	5,939
Marketing
16,286	16,838	17,421	19,703	16,053	15,379	15,502	16,827	18,456	18,968	14,469	13,956
Professional and outside services
21,380	20,300	16,858	14,801	11,156	8,296	9,532	11,348	11,203	14,721	15,015	15,758
Deposit insurance
17,954	34,749	25,649	26,006	24,042	22,670	21,114	22,749	20,927	24,535	30,056	4,698
Litigation
-	-	-	-	-	-	-	-	-9,523	22,476	-	-
Goodwill impairment
-	-	-	-	-	-	-	-	-	-	-	198,379
Other expense
98,617	91,046	90,626	90,039	70,584	73,101	72,687	69,018	87,091	88,854	89,496	82,540
Total non-interest expense
715,950	705,616	661,075	623,191	555,341	501,600	497,709	501,804	510,976	538,974	507,394	675,169
Income before income tax expense
486,692	441,633	353,790	303,450	297,761	291,699	256,569	248,362	207,334	84,522	-130,613	-383,730
Income tax expense
103,969	81,215	98,351	96,323	93,032	91,973	77,113	74,665	57,951	12,358	-53,424	-65,840
Income from continuing operations
-	-	-	-	-	-	-	-	149,383	72,164	-77,189	-317,890
Income from discontinued operations, net of tax
-	-	-	-	-	-	-	-	1,995	94	302	-3,073
Net income
-	-	-	-	-	-	-	-	151,378	72,258	-76,887	-320,963
Less: Net loss attributable to non controlling interests
-	-	-	-	-	-	-	-	-1	3	22	4
Net income
382,723	360,418	255,439	207,127	204,729	199,726	179,456	173,697	151,379	72,255	-76,909	-320,967
Preferred stock dividends and other
9,738	8,715	8,608	8,704	9,368	11,230	11,420	2,460	3,286	18,086	32,863	12,805
Accretion of preferred stock discount
-	-	-	-	-	-	-	-	-	6,830	-23,243	145
Net Income (Loss) Available to Common Stockholders, Basic, Total
372,985	351,703	246,831	198,423	195,361	188,496	168,036	171,237	148,093	47,339	-86,529	-333,917
Earnings Per Share, Basic and Diluted [Abstract]
Net income from continuing operations per common share, Basic (in dollars per share)
-	-	-	-	-	-	-	-	1.67	0.60	-1.43	-6.37
Income from discontinued operations, net of tax, Basic (in dollars per share)
-	-	-	-	-	-	-	-	0.02	0.00	-	-
Basic
4.07	3.83	2.68	2.17	2.15	2.10	1.90	1.96	1.69	0.60	-1.42	-6.43
Net income from continuing operations per common share, Diluted (in dollars per share)
-	-	-	-	-	-	-	-	1.59	0.57	-2.17	-6.37
Income from discontinued operations, net of tax, Diluted (in dollars per share)
-	-	-	-	-	-	-	-	0.02	0.00	-	-
Diluted
4.06	3.81	2.67	2.16	2.13	2.08	1.86	1.86	1.61	0.57	-2.16	-6.43