Webster Financial (WBS)

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Webster Financial (WBS) - 2021 Q3 - Earnings Call Transcript
2021-10-21 18:56
Webster Financial Corporation (NYSE:WBS) Q3 2021 Earnings Conference Call October 21, 2021 9:00 AM ET Company Participants Kristen Manginelli - Director, IR John Ciulla - Chairman, President, and CEO Glenn MacInnes - CFO Conference Call Participants Chris McGratty - KBW Matthew Breese - Stephens, Inc. Brock Vandervliet - UBS David Chiaverini - Wedbush Securities Steven Duong - RBC Capital Markets Laurie Hunsicker - Compass Point Jared Shaw - Wells Fargo Securities Ken Zerbe - Morgan Stanley Operator Good mo ...
Webster Financial (WBS) - 2021 Q3 - Earnings Call Presentation
2021-10-21 13:49
Earnings Conference Call Third Quarter 2021 October 21, 2021 WEBSTER FINANCIAL CORPORATION Third Quarter 2021 Highlights | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------|-----------------------------------|-----------------------------------| | | REPORTED | ADJUSTED | | Solid financial results and a favorable credit profile | $133.2M PPNR | $139.1M PPNR | | Loan growth of 2.7% quarter over quarter excluding PPP loans; average lo ...
Webster Financial (WBS) - 2021 Q2 - Quarterly Report
2021-08-04 20:06
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________________ ______________________________________________________________________________FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ending June 30, 2021 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ____ to ___ ...
Webster Financial (WBS) - 2021 Q2 - Earnings Call Transcript
2021-07-22 15:39
Webster Financial Corporation (NYSE:WBS) Q2 2021 Earnings Conference Call July 22, 2021 9:00 AM ET Company Participants Kristen Manginelli - Director, IR John R. Ciulla - Chairman, President, and CEO Glenn I. MacInnes - CFO Conference Call Participants Matthew Breese - Stephens, Inc. David Chiaverini - Wedbush Securities Christopher McGratty - Keefe, Bruyette & Woods Brock Vandervliet - UBS Unidentified Analyst - Wells Fargo Securities Operator Good morning and welcome to the Webster Financial Corporation’s ...
Webster Financial (WBS) - 2021 Q2 - Earnings Call Presentation
2021-07-22 13:34
Earnings Conference Call Second Quarter 2021 July 22, 2021 WEBSTER FINANCIAL CORPORATION Second Quarter 2021 Highlights | --- | --- | --- | |----------------------------------------------------------------------------------------------------------------|-----------------------------------|------------------------------------| | | REPORTED | ADJUSTED | | Solid financial results and a favorable credit profile Loan growth of 3.2% quarter over quarter | $106.5M PPNR | $124.8M PPNR | | excluding PPP loans Positi ...
Webster Financial (WBS) - 2021 Q1 - Quarterly Report
2021-05-06 20:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________________ ______________________________________________________________________________FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ending March 31, 2021 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ____ to __ ...
Webster Financial (WBS) - 2021 Q1 - Earnings Call Transcript
2021-04-20 17:09
Financial Data and Key Metrics Changes - Webster reported net income of $106 million or $1.17 per share, up from $0.64 per share in the prior quarter, with adjusted net income at $112 million or $1.25 per share, resulting in a 14.6% return on average common equity and a 17.9% return on tangible common equity [39][40] - Tangible book value grew 1.3% linked quarter and 7.4% from the prior year [40] - Adjusted net interest income increased by $3 million linked quarter, driven largely by PPP fee accretion [40] Business Line Data and Key Metrics Changes - Adjusted NIM improved by four basis points linked quarter to 2.92%, attributed to lower funding costs and PPP fee accretion [41] - Loan originations, excluding PPP loans, totaled $1.3 billion, increasing $100 million from the prior year [41] - HSA Bank opened 264,000 new accounts and crossed the $10 billion mark in total footings [47] Market Data and Key Metrics Changes - Average loans declined $250 million or 1% from Q4, while average deposits grew $1 billion from Q4 or 4% [46] - Sterling reported adjusted EPS of $0.51, up from $0.49 in the fourth quarter, with tangible book value per share growing to $14.08 from $13.87 [49] Company Strategy and Development Direction - The merger aims to create a differentiated, commercially focused, high-performing franchise with strong market share from metro New York to metro Boston [7][10] - The combined company will focus on enhancing HSA Bank's proprietary technology and product offerings, leveraging scale for growth [16][30] - The strategy includes significant investments in technology solutions and risk management systems to support growth [9][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving high single-digit to 10% loan growth in a normalized demand environment, emphasizing the strength of the commercial loan portfolio [61][70] - The combined entity is well-positioned for rising interest rates, with 80% of the loan portfolio being commercial and 60% floating [65][66] - Management highlighted the importance of maintaining a strong culture and accountability within the combined organization to drive performance [22][36] Other Important Information - The merger is structured as a 100% stock merger of equals, with Sterling shareholders receiving a fixed exchange ratio of 0.463 shares of Webster for each share they own [23][26] - The transaction is expected to close in the fourth quarter of the year, with significant cost savings identified at $120 million pre-tax [27][28] Q&A Session Summary Question: Growth pro forma and combined growth rate - Management indicated that they expect high single-digit to 10% loan growth on an organic basis, with no significant repositioning required [61][62] Question: Rate positioning pro forma - The combined company is well-positioned for rising rates, with a significant portion of the loan portfolio being floating and adjustable [65][66] Question: Consumer portfolio impact on growth - Management clarified that while the consumer portfolio may not grow as quickly, the strong commercial bank portfolio will support overall loan growth [70] Question: HSA growth outlook - Management expressed optimism about HSA growth, anticipating normalized account growth as the pandemic settles [75] Question: Technology platforms and synergies - Management discussed the potential for significant IT synergies and the opportunity to enhance technology offerings through the merger [84][85]
Webster Financial (WBS) - 2021 Q1 - Earnings Call Presentation
2021-04-20 11:53
Earnings Conference Call First Quarter 2021 April 19, 2021 WEBSTER FINANCIAL CORPORATION First Quarter 2021 Highlights | --- | --- | --- | |--------------------------------------------------------------------------------------------------------|----------------------------|----------------------------| | | REPORTED | ADJUSTED | | Solid financial results and a favorable credit profile HSA Bank footings of $10.6 billion, an | $112.5M PPNR | $121.9M PPNR | | increase of 23.1% year-over-year Stable net interest ...
Webster Financial (WBS) - 2020 Q4 - Annual Report
2021-02-26 21:58
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________________ FORM 10-K _______________________________________________________________________________ ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2020 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period f ...
Webster Financial (WBS) - 2020 Q4 - Earnings Call Transcript
2021-01-21 18:03
Webster Financial Corporation (NYSE:WBS) Q4 2020 Results Conference Call January 21, 2021 9:00 AM ET Company Participants Terry Mangan - Director, IR John Ciulla - Chairman and CEO Glenn MacInnes - CFO Chad Wilkins - President, HSA Bank Jason Soto - Chief Credit Officer Conference Call Participants Steven Alexopoulos - JP Morgan Chris O'Connell - KBW Brock Vandervliet - UBS Mark Fitzgibbon - Piper Sandler Timur Braziler - Wells Fargo Laurie Hunsicker - Compass Point Steven Duong - RBC Capital Markets Willia ...