WEBSTER FINANCIAL CORPORATION WBS Income Statement

Webster financial corporation (WBS)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Interest and Dividend Income, Operating [Abstract]
Interest and fees on loans and leases
216,187	223,527	236,453	235,949	228,764	225,961	215,448	207,820	193,220	185,172	181,130	174,456	167,808	161,978	157,071	152,171	149,808	145,504	140,520	135,694	130,723	132,604	129,227	125,771	124,010	124,110	123,257	121,313	120,692	121,470	121,367	121,379	120,741	121,223	121,322	122,395	121,943	124,405	123,042	122,447	123,350	131,266	137,533
Taxable interest and dividends on investments
52,622	52,738	52,046	50,634	51,876	49,132	47,646	47,427	47,288	44,964	43,819	46,408	45,940	43,612	43,384	45,311	48,039	48,322	47,230	46,857	47,652	46,966	46,349	47,252	48,841	46,461	42,722	42,770	42,626	44,582	43,532	45,662	45,888	44,095	45,753	46,258	46,493	44,274	45,709	47,963	46,625	45,117	41,098
Non-taxable interest on investment securities
5,486	5,467	5,471	5,529	5,402	5,169	5,061	5,096	5,271	5,771	5,765	5,722	5,616	5,399	4,820	4,656	4,215	4,043	3,891	3,987	4,027	3,955	4,099	4,259	4,751	4,833	5,201	5,459	6,128	5,879	6,662	6,935	6,980	7,165	7,221	7,269	7,351	7,378	7,473	7,480	7,531	7,858	7,701
Loans held for sale
175	268	166	145	148	130	208	148	142	208	307	203	316	443	440	293	273	291	357	432	510	226	239	215	177	307	573	551	637	615	655	657	498	370	266	177	422	433	79	144	314	716	833
Total interest income
274,470	282,000	294,136	292,257	286,190	280,392	268,363	260,491	245,921	236,115	231,021	226,789	219,680	211,432	205,715	202,431	202,335	198,160	191,998	186,970	182,912	183,751	179,914	177,497	177,779	175,711	171,753	170,093	170,083	172,546	172,216	174,633	174,107	172,853	174,562	176,099	176,209	176,490	176,303	178,034	177,820	184,957	187,165
Interest Expense [Abstract]
Deposits
27,843	31,586	34,214	32,757	31,020	27,629	24,397	20,225	18,156	17,379	16,760	14,679	13,435	12,591	12,594	12,374	12,299	11,476	11,480	11,533	11,542	11,322	11,345	10,851	10,644	10,800	10,908	12,024	12,850	13,885	14,543	15,102	16,056	17,268	18,930	21,841	22,769	23,787	26,409	30,482	31,951	41,977	49,982
Securities sold under agreements to repurchase and other borrowings
3,730	4,726	6,571	3,904	2,752	2,769	3,084	3,998	3,640	3,395	3,847	3,583	3,540	3,529	3,447	3,379	4,173	4,150	4,138	4,186	4,387	4,514	4,587	5,082	5,205	5,278	5,283	5,184	5,055	5,646	5,594	5,360	4,434	4,449	4,384	3,777	3,562	3,728	4,048	4,121	4,003	-	-
Federal Home Loan Bank advances
6,869	8,932	6,910	7,772	7,785	10,024	7,685	8,471	7,281	7,777	6,894	8,156	7,493	7,516	6,979	7,291	7,247	6,759	5,949	5,329	4,821	4,857	4,203	4,002	3,847	3,930	3,753	4,007	4,539	4,010	3,943	4,426	4,564	4,151	3,551	3,295	3,355	3,781	4,682	4,747	4,418	-	-
Long-term debt
5,227	5,506	5,902	6,037	3,082	2,839	2,825	2,787	2,676	2,632	2,616	2,584	2,548	2,537	2,498	2,482	2,464	2,435	2,421	2,411	2,398	2,410	2,409	2,440	2,782	1,819	1,822	1,817	1,843	2,733	3,246	5,367	5,685	5,976	6,012	6,273	6,362	6,383	6,430	6,342	6,064	-	-
Borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,308	17,895
Total interest expense
43,669	50,750	53,597	50,470	44,639	43,261	37,991	35,481	31,753	31,183	30,117	29,002	27,016	26,173	25,518	25,526	26,183	24,820	23,988	23,459	23,148	23,103	22,544	22,375	22,478	21,827	21,766	23,032	24,287	26,274	27,326	30,255	30,739	31,844	32,877	35,186	36,048	37,679	41,569	45,692	46,436	58,285	67,877
Net interest income
230,801	231,250	240,539	241,787	241,551	237,131	230,372	225,010	214,168	204,932	200,904	197,787	192,664	185,259	180,197	176,905	176,152	173,340	168,010	163,511	159,764	160,648	157,370	155,122	155,301	153,884	149,987	147,061	145,796	146,272	144,890	144,378	143,368	141,009	141,685	140,913	140,161	138,811	134,734	132,342	131,384	126,672	119,288
Provision for credit losses
76,085	6,000	11,300	11,900	8,600	10,000	10,500	10,500	11,000	13,000	10,150	7,250	10,500	12,500	14,250	14,000	15,600	13,800	13,000	12,750	9,750	9,500	9,500	9,250	9,000	9,000	8,500	8,500	7,500	7,500	5,000	5,000	4,000	2,500	5,000	5,000	10,000	15,000	25,000	32,000	43,000	85,000	85,000
Net interest income after provision for credit losses
154,801	225,250	229,239	229,887	232,951	227,131	219,872	214,510	203,168	191,932	190,754	190,537	182,164	172,759	165,947	162,905	160,552	159,540	155,010	150,761	150,014	151,148	147,870	145,872	146,301	144,884	141,487	138,561	138,296	138,772	139,890	139,378	139,368	138,509	136,685	135,913	130,161	123,811	109,734	100,342	88,384	41,672	34,288
Noninterest Income [Abstract]
Deposit service fees
42,570	40,470	41,410	43,118	43,024	40,272	40,601	40,859	40,451	37,618	38,321	38,192	37,006	35,132	35,734	34,894	34,925	33,335	35,164	33,933	32,625	25,928	26,489	26,302	24,712	25,182	25,170	24,622	23,994	24,823	24,728	23,719	23,363	24,286	27,074	26,095	25,340	25,026	26,822	29,345	27,784	30,844	29,984
Loan and lease related fees
6,496	8,704	8,246	6,558	7,819	7,914	10,782	6,333	6,996	6,550	6,346	6,344	7,208	6,018	9,253	6,266	5,044	5,881	8,305	5,729	5,679	8,361	5,479	4,890	4,482	5,930	5,840	5,505	4,585	5,570	4,039	3,565	4,869	4,896	5,308	5,590	4,443	937	6,119	7,225	6,005	5,557	6,350
Wealth and investment services
8,739	8,476	8,496	8,309	7,651	8,105	8,412	8,456	7,870	8,155	7,750	7,877	7,273	6,970	7,593	7,204	7,195	8,052	7,761	8,784	7,889	8,517	8,762	8,829	8,838	9,990	8,095	8,920	7,766	7,859	7,186	7,249	7,221	5,759	6,486	7,454	6,722	6,652	6,220	6,218	5,835	6,160	6,081
Mortgage banking activities
2,893	2,286	2,133	932	764	740	1,305	1,235	1,144	1,899	2,421	3,351	2,266	3,300	4,322	3,753	3,260	2,276	1,441	2,517	1,561	977	1,805	513	775	2,775	665	5,888	7,031	8,515	6,515	3,624	4,383	1,094	1,324	1,234	1,253	2,222	1,658	427	-138	1,406	3,433
Increase in cash surrender value of life insurance policies
3,580	3,670	3,708	3,650	3,584	3,693	3,706	3,643	3,572	3,684	3,720	3,648	3,575	3,699	3,743	3,664	3,653	3,383	3,288	3,197	3,152	3,278	3,346	3,296	3,258	3,422	3,516	3,448	3,384	3,496	2,680	2,561	2,517	2,609	2,642	2,576	2,533	2,650	2,677	2,612	2,578	2,692	2,665
Gain on Sale of Investments
8	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on the sale of investment securities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-14	0	94	320	80	0	486	43	1,121	42	0	4,336	4	269	333	106	0	810	2,537	0	0	0	1,647	2,176	39	1,027	4,364	4,318	-4,728	-13,593
Impairment loss on securities recognized in earnings
-	-	-	-	-	-	-	-	-	-	0	126	-	0	0	0	149	28	82	0	0	899	85	73	88	7,277	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on exchange of trust preferreds for common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	24,336
Net loss on trading securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-1,799	-	1,205	8,584	-	-	-
Total other-than-temporary impairment loss on securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,137	5,314	3,054	8,214	1,545	27,110
Less: Portion of loss recognized in other comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,137	4,344	1,866	4,534	255	-
Net impairment loss recognized in earnings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	970	1,188	3,680	1,290	27,110
Other income
-	-	-	-	-	12,439	7,478	7,848	8,714	8,133	7,288	5,265	5,714	15,498	5,767	9,200	8,126	6,371	5,415	4,599	6,941	6,492	5,071	3,839	3,515	4,238	2,702	3,535	1,412	2,677	2,521	4,098	1,633	3,602	1,857	1,593	3,248	1,639	2,510	7,933	4,314	3,517	3,232
Other income
9,092	-	5,938	13,286	5,770	-	7,478	7,848	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total non-interest income
73,378	70,919	69,931	75,853	68,612	73,163	72,284	68,374	68,747	66,039	65,846	64,551	63,042	70,617	66,412	65,075	62,374	59,350	61,292	59,245	57,890	53,775	50,909	47,596	49,828	44,264	46,257	52,251	48,278	52,940	48,479	47,353	43,986	42,246	44,691	46,189	43,916	41,421	47,268	65,520	47,016	44,158	35,378
Noninterest Expense [Abstract]
Compensation and benefits
101,887	100,467	98,623	98,527	97,785	97,039	96,640	93,052	94,765	94,217	88,395	86,394	87,499	81,909	83,148	80,231	80,710	79,232	73,378	74,043	70,864	71,220	66,849	65,711	66,371	68,155	64,862	65,768	66,050	65,769	66,126	63,587	68,619	68,087	61,897	65,592	67,071	63,927	60,133	60,327	60,956	59,772	59,189
Occupancy
14,485	14,379	14,087	14,019	14,696	13,974	14,502	15,842	15,145	13,533	14,744	16,034	16,179	16,195	15,004	14,842	15,069	11,573	11,987	11,680	13,596	11,518	11,557	11,491	12,759	12,084	11,994	11,837	12,879	12,209	12,462	12,578	12,882	13,125	13,150	12,856	14,735	13,871	13,777	13,546	14,440	13,572	13,594
Technology and equipment
27,837	27,639	26,180	25,767	25,697	24,858	24,553	24,604	23,862	22,818	22,580	22,458	21,608	20,815	19,753	19,376	19,938	19,831	21,419	20,315	19,248	15,827	15,419	15,737	15,010	14,583	14,895	15,495	15,353	15,489	15,118	16,021	15,582	15,054	15,141	15,134	15,392	16,044	15,886	15,657	15,268	15,199	15,288
Intangible assets amortization
962	962	961	962	962	962	961	962	962	977	1,002	1,028	1,055	1,082	1,493	1,523	1,554	1,588	1,621	1,843	1,288	416	432	669	1,168	1,193	1,242	1,242	1,242	1,242	1,384	1,397	1,397	1,397	1,397	1,397	1,397	1,397	1,397	1,397	1,397	1,421	1,450
Marketing
3,502	3,957	4,758	4,243	3,328	4,345	4,052	4,889	3,552	3,320	4,045	4,615	5,441	5,488	4,622	4,669	4,924	3,533	4,099	4,245	4,176	3,918	4,032	4,249	3,180	3,225	3,649	3,817	4,811	3,104	4,529	5,094	4,100	4,540	4,144	4,252	5,520	4,317	4,634	5,226	4,791	3,802	3,196
Professional and outside services
5,663	4,674	5,024	5,634	6,048	6,201	4,930	4,381	4,788	5,045	4,030	3,507	4,276	3,441	4,795	3,754	2,811	2,932	2,896	2,875	2,453	1,855	2,470	1,269	2,702	3,601	2,254	1,527	2,150	2,479	2,790	3,387	2,692	2,835	3,125	2,813	2,430	4,515	4,038	3,566	2,602	3,628	3,394
Deposit insurance
4,725	4,662	4,409	4,453	4,430	4,651	9,694	13,687	6,717	5,948	6,344	6,625	6,732	6,410	6,177	6,633	6,786	6,242	6,067	5,492	6,241	5,856	5,938	5,565	5,311	5,116	5,300	5,524	5,174	5,642	5,675	5,723	5,709	4,756	4,472	5,918	5,781	5,407	5,882	7,161	6,085	5,942	5,959
Litigation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-9,755	-254	194	292	-	2,800	19,676	-	-	-
Other expense
19,775	22,990	25,852	27,035	22,740	22,729	23,451	23,042	21,824	25,191	20,683	23,758	20,994	26,531	21,105	21,750	20,653	18,846	18,470	17,044	16,224	19,554	17,801	17,784	17,962	18,332	18,085	18,394	17,876	16,991	15,803	19,392	16,832	26,533	20,146	23,905	16,507	18,484	21,174	21,111	28,085	23,750	28,007
Total non-interest expense
178,836	179,730	179,894	180,640	175,686	174,759	178,783	180,459	171,615	171,049	161,823	164,419	163,784	161,871	156,097	152,778	152,445	143,777	139,937	137,537	134,090	130,164	124,498	122,475	124,463	126,289	122,281	123,604	125,535	122,925	123,887	127,179	127,813	126,572	123,218	132,061	129,125	127,962	129,721	147,667	133,624	127,086	130,077
Income before income tax expense
49,343	116,439	119,276	125,100	125,877	125,535	113,373	102,425	100,300	86,922	94,777	90,669	81,422	81,505	76,262	75,202	70,481	75,113	76,365	72,469	73,814	74,759	74,281	70,993	71,666	62,859	65,463	67,208	61,039	68,787	64,482	59,552	55,541	54,183	58,158	50,041	44,952	37,270	27,281	18,195	1,776	-41,256	-60,411
Income tax expense
11,144	25,966	25,411	26,451	26,141	26,697	13,700	20,743	20,075	17,029	30,281	29,090	21,951	23,845	24,445	24,599	23,434	23,519	24,995	20,426	24,092	23,753	23,824	23,159	21,237	19,198	18,158	20,835	18,922	20,261	19,489	18,312	16,603	13,799	15,927	15,857	12,368	6,856	4,597	550	355	-22,014	-28,536
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	40,384	42,231	34,184	32,584	30,414	22,684	17,645	1,421	-19,242	-31,875
Income from discontinued operations, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,995	-	-	-	-	-	313
Net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	40,384	42,231	34,184	34,579	30,508	22,684	17,645	1,421	-19,242	-31,562
Less: Net loss attributable to non controlling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-1	-	-3	7	-	8	-
Net income
38,199	90,473	93,865	98,649	99,736	98,838	99,673	81,682	80,225	69,893	64,496	61,579	59,471	57,660	51,817	50,603	47,047	51,594	51,370	52,043	49,722	51,006	50,457	47,834	50,429	43,661	47,305	46,373	42,117	48,526	44,993	41,240	38,938	40,384	42,231	34,184	34,580	30,509	22,687	17,638	1,421	-19,250	-31,562
Preferred stock dividends and other
2,178	2,672	2,423	2,456	2,187	2,167	2,213	2,193	2,142	2,315	2,070	2,094	2,129	2,190	2,183	2,205	2,126	2,165	2,194	2,224	2,785	3,313	2,639	2,639	2,639	3,256	2,639	2,639	2,886	615	615	615	615	793	831	831	831	3,469	4,581	4,581	5,455	6,850	-48,361
Accretion of preferred stock discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,141	327	327	2,035	-	-
Net Income (Loss) Available to Common Stockholders, Basic, Total
36,021	87,801	91,442	96,193	97,549	96,671	97,460	79,489	78,083	67,578	62,426	59,485	57,342	55,470	49,634	48,398	44,921	49,429	49,176	49,819	46,937	47,693	47,818	45,195	47,790	40,405	44,666	43,734	39,231	47,911	44,378	40,625	38,323	39,591	41,400	33,353	33,749	22,899	17,779	12,730	-6,069	-26,100	16,799
Earnings Per Share, Basic and Diluted [Abstract]
Net income from continuing operations per common share, Basic (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.51	0.46	-	0.45	0.48	0.38	0.36	0.29	0.23	0.16	-0.08	-0.39	0.30
Basic
0.40	0.96	1.00	1.05	1.06	1.05	1.06	0.87	0.85	0.73	0.68	0.65	0.62	0.61	0.54	0.53	0.49	0.54	0.54	0.55	0.52	0.54	0.53	0.50	0.53	0.45	0.50	0.49	0.46	-	-	-	0.44	0.45	0.48	0.38	0.38	0.29	0.23	0.16	-0.08	-0.39	0.31
Net income from continuing operations per common share, Diluted (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.48	0.44	-	0.44	0.45	0.36	0.34	0.28	0.22	0.15	-0.08	-0.39	-0.66
Diluted
0.39	0.95	1.00	1.05	1.06	1.04	1.06	0.86	0.85	0.74	0.67	0.64	0.62	0.60	0.54	0.53	0.49	0.53	0.53	0.55	0.52	0.52	0.53	0.50	0.53	0.45	0.49	0.48	0.44	-	-	-	0.42	0.44	0.45	0.36	0.36	0.28	0.22	0.15	-0.08	-0.39	-0.65
Provision for credit losses
76,000	-	-	-	8,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-