Webster Bank reports $221M profit in 2020

WEBSTER BANK's holding company reported a $220.6 million profit in 2020. /PBN FILE PHOTO
WATERBURY, Conn. – Webster Financial Corp., the parent company for Webster Bank, on Thursday reported a 42.4% drop in profits over the prior year, primarily driven by 264% increase in the money set aside for potential bad loans. The $220.6 million earnings for 2020 includes a $137,800 provision for credit losses, a 264% increase over…

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