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…

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