Webster sees Q3 profits double after Sterling merger

Nancy Lavin

10/20/2022

WEBSTER FINANCIAL CORP. reported $229.8 million in third-quarter earnings on Thursday./ PBN FILE PHOTO

STAMFORD, Conn. – Webster Financial Corp. more than doubled its third-quarter profits over a year ago, reporting $229.8 million in earnings on Thursday. The Webster Bank parent company's balance sheet was boosted by a $10.3 billion merger with Sterling Bancorp that closed in January, along with interest rate hikes. Indeed, interest income nearly tripled year-over-year,…

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