Webster Bank posts $51M Q2 profit

WEBSTER FINANCIAL CORP., the holding company for Waterbury, Conn.-based Webster Bank, reported net income of $50.7 million in the second quarter of 2020. / PBN FILE PHOTO
WATERBURY, Conn. – Webster Financial Corp., the parent company for Webster Bank, saw a 46.2% year-over-year cut to profits, ending the second quarter at $50.7 million in earnings, the company reported on Thursday. The slash to profits reflects a nearly fourfold increase of the company’s provision for credit losses - from $11.9 million a year…

Want More?

Subscribe or register with Providence Business News to keep reading.

for 2 more stories

Subscribe now for $1 for 4 weeks
Already a Subscriber? Login now

Purchase NowWant to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.

- Advertisement -

No posts to display