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WEBSTER FINL CP   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2020201920182017201620152014201320122011
Period End Date12/31/202012/31/201912/31/201812/31/201712/31/201612/31/201512/31/201412/31/201312/31/201212/31/2011
Loans------------511.61----486.88
Interest and fees on loans and leases789.72924.69842.45708.57621.03552.44--489.37484.96--
Loans and loans held for sale0.770.730.631.031.451.590.862.072.431.24
Securities and short-term investments--------------------
Taxable Interest and Dividends on Securities189.68207.29191.49181.13180.35190.06189.41174.58179.66182.60
Non-taxable Interest and Dividends on Securities21.8821.8720.6022.8719.0915.9517.0621.6226.4629.01
Total Interest Income1,002.051,154.581,055.17913.61821.91760.04718.94687.64693.50699.72
Deposits67.90129.5890.4162.2549.8646.0344.1646.5859.5980.81
Borrowings--------------------
Long-term debt18.0520.5311.1310.389.989.6710.047.3017.0324.62
Federal Home Loan Bank advances and other borrowings18.7731.4033.4630.3229.0322.8616.9116.2316.9414.35
Repurchase agreements and other short-term borrowings5.9417.9513.4914.3714.5316.8619.3920.8021.0316.17
Total Interest Expense110.66199.46148.49117.32103.4095.4290.5090.91114.59135.96
Net Interest Income891.39955.13906.68796.29718.51664.63628.44596.73578.91563.77
Provision for credit losses137.7537.8042.0040.9056.3549.3037.2533.5021.5022.50
Net interest income after provision for credit losses753.64917.33864.68755.39662.16615.33591.19563.23557.41541.27
Loan related fees29.1331.3332.0326.4526.5825.5923.2121.8618.0420.24
Wealth and investment services32.9232.9332.8431.0628.9632.4934.9534.7729.5226.42
Financial advisory services--------------------
Deposit service fees156.03168.02162.18151.14140.69135.06103.4398.9796.63102.80
Fees and service charges--------------------
Net gain on investment securities--------0.410.61----3.35(1.80)
Loss on write-down of securities available for sale to fair value--------------------
Net gain on securities transactions--------------------
Net loss on the sale of investment securities0.010.03--------5.500.71--3.82
Loss on sale of mortgage loans--------------------
Mortgage banking activities18.306.124.429.9414.647.804.0716.3623.044.91
Net gain on trading securities--------------------
Insurance revenue--------------------
Other income34.3432.2836.4826.4038.5923.3318.9211.8910.9310.30
Increase in cash surrender value of life insurance14.5614.6114.6114.6314.7613.0213.1813.7711.2510.36
Gain on sale of deposits--------------------
Gain on early extinguishment of subordinated notes--------------------
Gain on the exchange of trust preferred securities for common stock--------------------
Total other-than-temporary impairment losses on securities--------------------
Portion of the loss recognized in other comprehensive income--------------------
Impairment loss recognized in earnings------(0.13)(0.15)(0.11)(1.15)(7.28)----
Total Non-Interest Income285.28285.32282.57259.48264.48237.78202.11191.05192.76177.04
Compensation and benefits428.39395.40381.50356.51326.00297.52270.15264.84264.10262.65
Marketing14.1316.2916.8417.4219.7016.0515.3815.5016.8318.46
Occupancy71.0357.1859.4660.4961.1148.8447.3348.7950.1353.87
Deposit insurance18.3217.9534.7525.6526.01----21.11----
FDIC deposit insurance assessment----------24.0422.67--22.7520.93
Goodwill impairment--------------------
Intangible amortization------4.06------------
Intangible assets amortization4.163.853.85--5.656.342.694.925.425.59
Branch reconfiguration--------------------
Acquisition costs--------------------
Conversion and infrastructure costs--------------------
Furniture and Equipment--------------------
Professional services------16.8614.8011.16--9.5311.35--
Other expense78.2398.6291.0590.63----73.10----87.09
Outside services32.4221.3820.30------8.30----11.20
Other expenses--------90.0470.58--72.6969.02--
Debt prepayment expenses--------------------
Capital securities--------------------
Dividends on preferred stock of subsidiary corporation--------------------
Severance and other costs--------------------
Foreclosed and repossessed property expenses--------------------
Foreclosed and repossessed asset write-downs--------------------
Litigation reserve------------------(9.52)
Technology and equipment expense112.27105.2897.8889.4679.8880.8161.9960.3362.2160.72
Total Non-Interest expense758.95715.95705.62661.08623.19555.34501.60497.71501.80510.98
Income Before Income Taxes279.97486.69441.63353.79303.45297.76291.70256.57248.36207.33
Current: Federal--------73.1997.58--62.0452.3927.67
Income taxes59.35103.9781.2298.3596.3293.0391.9777.1174.6757.95
Deferred: Federal73.1784.4558.33--12.54(7.28)90.5410.7620.0128.50
Deferred: State and local--------5.16(8.23)--0.740.980.48
Current: State and local17.4218.6013.41--5.4310.976.593.571.281.30
Income from Continuing Operations------------------149.38
Loss from discontinued operations, net of tax------------------2.00
(Loss) income from discontinued operations, net of tax--------------------
Income before cumulative effect of change in accounting method--------------------
Extraordinary item - early extinguishment of debt--------------------
Cumulative effect of change in accounting method--------------------
Net (loss) income220.62382.72360.42255.44207.13204.73199.73179.46173.70151.38
Less: Net income attributable to non controlling interests------------------0.00
Net income attributable to Webster Financial Corporation--------------------
Preferred stock dividends9.159.748.728.618.709.3710.5610.802.463.29
Preferred stock dividends and accretion of discount--------------------
Accretion of preferred stock discount and gain on extinguishment--------------------
Less income allocated to participating securities------------0.670.62----
Net (loss) income applicable to common shareholders211.47372.99351.70246.83198.42195.36188.50168.04171.24148.09
Income from continuing operations------------------1.67
Income before cumulative effect of change in accounting method--------------------
Income (loss) from discontinued operations, net of tax per common share------------------0.02
Cumulative effect of change in accounting method--------------------
Extraordinary item - early extinguishment of debt--------------------
Net Earnings Per Share (Basic)2.354.073.832.682.172.152.101.901.961.69
Income from continuing operations------------------1.59
Income before cumulative effect of change in accounting method--------------------
Income (loss) from discontinued operations, net of tax per common share------------------0.02
Cumulative effect of change in accounting method--------------------
Extraordinary item - early extinguishment of debt--------------------
Net Earnings Per Share (Diluted)2.354.063.812.672.162.132.081.861.861.61
Weighted Average Shares Outstanding (Basic)89.9791.5691.9391.9791.3790.9789.9088.7187.2187.01
Weighted Average Shares Outstanding (Diluted)90.1591.8892.2392.3691.8691.5390.6290.2691.6591.69