Webster Financial (US:WBS)2021-04-20 11:53Financial Highlights - Reported Pre-Provision Net Revenue (PPNR) was $112.5 million, while adjusted PPNR reached $121.9 million[2] - Income available to common shareholders was reported at $105.5 million, with an adjusted figure of $112.4 million[2] - Diluted Earnings Per Share (EPS) were $1.17 reported and $1.25 adjusted[2] - Return on Average Common Equity (ROACE) was 13.65% reported and 14.55% adjusted[2] - Return on Average Tangible Common Equity (ROATCE) was 16.79% reported and 17.88% adjusted[2] Strategic Initiatives & Expense Management - The company anticipates an 8-10% net reduction in operating expenses through strategic initiatives[5] - Net project savings of $13 million are forecasted for 4Q21, reflecting run-rate operating expense benefits[9] Balance Sheet & Loan Portfolio - HSA Bank footings increased by 23.1% year-over-year, reaching $10.6 billion[2] - Total loans experienced a year-over-year growth of 2.0%, but declined by 4.3% excluding PPP loans[12, 14] - Total deposits grew by 16.2% year-over-year, reaching $4.0 billion[15, 16] - The loan-to-deposit ratio improved to 74.8%[19, 48]