Webster Financial Corp. Reports Q4 Profit Growth, Exceeds Expectations

Webster Financial Corp. (NYSE: WBS) reported a 12% increase in fourth-quarter net income, reaching $150 million, surpassing analyst expectations of $140 million. The bank attributed the growth to higher interest income and improved loan performance. Total assets rose to $38 billion, up from $36 billion in the previous quarter. CEO John Smith commented, "Our strategic focus on core banking services and cost management has driven consistent profitability." Shares of Webster Financial Corp. closed at $25.50, up 3% on the day, reflecting investor confidence in the company's financial health and future prospects.