Webster Bank posts $69M Q3 profit

WEBSTER FINANCIAL CORP., the holding company for Waterbury, Conn.-based Webster Bank, reported net income of $69.3 million in the third quarter of 2020. / PBN FILE PHOTO
WATERBURY, Conn. – Webster Financial Corp., the parent company for Webster Bank, reported a $69.3 million profit in the third quarter, the company announced on Thursday.   Year over year, quarterly earnings decreased 26.2%, which resulted in part from the near-doubling of quarterly provisions for credit losses. The $22.8 million allocated for losses from bad loans…

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