Webster Financial Stock Price, News & Analysis

Republic First Bancorp, Inc. has appointed Thomas X. Geisel as CEO and Michael W. Harrington as CFO, effective immediately. Geisel brings over 20 years of banking experience from roles at Webster Bank, while Harrington has over 30 years in community banking, most recently at Bryn Mawr Trust. The new leadership aims to evaluate capital alternatives, restructure the balance sheet, and enhance customer experience through technology. Founder Harry Madonna will step down as Interim CEO but remain Chairman during this transition.

Webster Financial Corporation (NYSE: WBS) announced an increase in its prime lending rate from 7.00% to 7.50%, effective December 15, 2022. The company, headquartered in Stamford, CT, is a significant player in the Northeast banking sector, offering a variety of financial services through its banking and HSA divisions. With $69.1 billion in assets, the institution focuses on Commercial and Consumer Banking, as well as employee benefits solutions. This rate hike reflects the current economic landscape and may impact lending dynamics for customers.

Webster Financial Corporation (NYSE: WBS) announced on December 5, 2022, a definitive agreement to acquire StoneCastle Insured Sweep, LLC (interLINK). This technology-enabled deposit management platform oversees over $9 billion in deposits through cash sweep programs. The acquisition aims to enhance Webster's funding capabilities and improve its deposit gathering through technology. The deal is expected to close in Q1 2023. Financial terms were not disclosed, but the acquisition is positioned as a strategic move to increase liquidity and diversify funding sources.

Webster Financial Corporation (NYSE: WBS) has announced an increase in its prime lending rate from 6.25% to 7.00%, effective November 3, 2022. This decision reflects the company's strategic adjustments in response to market conditions. Webster, headquartered in Stamford, CT, operates with $69.1 billion in assets and offers a range of financial solutions through its Commercial Banking, Consumer Banking, and HSA Bank divisions. The increase in the prime rate indicates a potential shift in borrowing costs for consumers and businesses at a time of economic fluctuations.

Webster Financial Corporation (NYSE: WBS) announced a quarterly cash dividend of $0.40 per share on its common stock, payable on November 14, 2022, to shareholders of record as of November 4, 2022. Additionally, it declared dividends on Series F Preferred Stock of $328.125 per share, payable on December 15, 2022, and on Series G Preferred Stock of $16.25 per share, payable on January 15, 2023. The company manages $69.1 billion in assets and operates across the northeastern U.S.

Webster Financial Corporation (NYSE: WBS) reported net income of $229.8 million, or $1.31 per diluted share, for Q3 2022, surpassing $93.7 million, or $1.03 per diluted share, from Q3 2021. Excluding merger-related expenses of $36.8 million, earnings per diluted share would have been $1.46. Total revenue reached $664.6 million, with a loan balance of $47.8 billion and deposits of $54.0 billion. The bank emphasized ongoing integration post-merger with Sterling Bancorp, resulting in significant revenue growth across its divisions.

Webster Financial Corporation (NYSE: WBS) announced the details for its third quarter 2022 earnings release and conference call scheduled for October 20, 2022. The earnings release will be available at approximately 7:30 a.m. Eastern, followed by a conference call at 9:00 a.m. Eastern. Investors can access the call via telephone or webcast on Webster's Investor Relations website. A replay of the conference call will be available shortly after the call's completion for one week. Webster Financial is a leading commercial bank in the Northeast with $68 billion in assets.

Webster Financial Corporation (NYSE: WBS) has increased its prime lending rate from 5.50% to 6.25%, effective Sept. 22, 2022. This adjustment reflects the bank's response to current economic conditions. Headquartered in Stamford, CT, Webster offers a wide range of financial services across its divisions, including Commercial Banking and HSA Bank, which is a significant player in employee benefits solutions. With approximately $68 billion in assets, Webster aims to enhance its service offerings while navigating the evolving market landscape.

Webster Financial Corporation (NYSE: WBS) has announced an increase in its prime lending rate from 4.75% to 5.50%, effective from July 28, 2022. This decision reflects the bank's response to current economic conditions and is aimed at aligning its lending practices with the market. As a significant player in the Northeast financial landscape, Webster, with $68 billion in assets, continues to offer a wide range of financial solutions across its three main business lines: Commercial Banking, Consumer Banking, and HSA Bank division.