Webster Financial Corporation (WBS) Financial Statements (2024 and earlier)

Company Profile

Business Address 200 ELM STREET
STAMFORD, CT 06902
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments7,404,6406,659,6955,830,993257,89569,07725,628
Cash and cash equivalents839,943461,570263,104257,89569,07725,628
Short-term investments 6,564,6976,198,1255,567,889   
Debt securities, held-to-maturity, accrued interest, after allowance for credit loss   
Disposal group, including discontinued operation 4,8004902,654 91144
Total current assets:7,409,4406,660,1855,833,647257,89569,16825,772
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 191,068119,926  
Operating lease, right-of-use asset 191,068119,926  
Property, plant and equipment239,11684,631226,743270,413124,850130,001
Intangible assets, net (including goodwill)2,713,446556,242560,756560,290564,137567,984
Goodwill2,514,104538,373538,373538,373538,373538,373
Intangible assets, net (excluding goodwill)199,34217,86922,38321,91725,76429,611
Deferred income tax assets371,634109,40581,286 
Total noncurrent assets:3,706,332990,130868,785830,703688,987697,985
Other undisclosed assets60,161,74927,265,28425,888,25829,300,74626,852,16025,763,888
TOTAL ASSETS:71,277,52134,915,59932,590,69030,389,34427,610,31526,487,645
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt 282,005674,896469,330440,431236,874588,269
Total current liabilities: 282,005674,896469,330440,431236,874588,269
Noncurrent Liabilities
Other undisclosed liabilities62,939,33030,802,37828,886,73526,741,14324,486,92623,197,418
Total liabilities:63,221,33531,477,27429,356,06527,181,57424,723,80023,785,687
Equity
Equity, attributable to parent7,772,2073,293,2883,089,5883,062,7332,741,4782,556,902
Common stock1,828937937937937937
Treasury stock, value(431,762)(126,951)(140,659)(76,734)(71,504)(70,430)
Additional paid in capital6,173,2401,108,5941,109,5321,113,2501,114,3941,122,164
Accumulated other comprehensive income (loss)(684,960)(22,580)42,256(36,072)(130,652)(91,531)
Retained earnings2,713,8612,333,2882,077,5222,061,3521,828,3031,595,762
Other undisclosed equity283,979145,037145,037145,037145,037145,056
Total equity:8,056,1863,438,3253,234,6253,207,7702,886,5152,701,958
TOTAL LIABILITIES AND EQUITY:71,277,52134,915,59932,590,69030,389,34427,610,31526,487,645

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues2,280,074949,6171,020,9091,160,5771,221,1461,104,700
Net investment income2,284,737942,8441,002,0491,153,8561,216,722912,571
Financial services revenue192,129
Cost of revenue(281,489) (137,750)(37,800)(42,000)(40,900)
Provision for loan, lease, and other losses(280,619) (137,750)(37,800)(42,000)
Financial services costs(40,900)
Gross profit:1,998,585949,617883,1591,122,7771,179,1461,063,800
Operating expenses(381,441)(135,986)(177,500)(99,943)(100,448)(458,757)
Other operating income, net
(Noninterest Income, Other Operating Income)
 75,85663,77034,33832,27836,47926,400
Other undisclosed operating loss(614,404)(398,040)    
Operating income:1,078,596479,361739,9971,055,1121,115,177631,443
Nonoperating income (expense)7,4415,146   (126)
Investment income, nonoperating      (126)
Gains on sales of other real estate1,130744    
Bank owned life insurance income6,3114,402    
Interest and debt expense(247,951)(41,755)(110,656)(199,456)(148,486)(117,318)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(40,109)91,109(349,367)(368,964)(525,058)(160,209)
Income from continuing operations before equity method investments, income taxes:797,977533,861279,974486,692441,633353,790
Other undisclosed loss from continuing operations before income taxes      
Income from continuing operations before income taxes:797,977533,861279,974486,692441,633353,790
Income tax expense(153,694)(124,997)(59,353)(103,969)(81,215)(98,351)
Income from continuing operations:644,283408,864220,621382,723360,418255,439
Income before gain (loss) on sale of properties:408,864220,621382,723360,418255,439
Net income attributable to parent:644,283408,864220,621382,723360,418255,439
Preferred stock dividends and other adjustments   (9,147)(9,738)(8,715)(8,608)
Undistributed earnings (loss) allocated to participating securities, basic(5,672)(2,302)  (862)(424)
Other undisclosed net income (loss) available to common stockholders, basic(15,919)(7,875)  862424
Net income available to common stockholders, diluted:622,692398,687211,474372,985351,703246,831

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:644,283408,864220,621382,723360,418255,439
Other comprehensive income (loss)(662,380)(64,836)78,32894,580(39,121)1,110
Comprehensive income (loss), net of tax, attributable to parent:(18,097)344,028298,949477,303321,297256,549

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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