Webster Financial Q4 net income increases

Webster Financial Corporation has reported that net income available to common shareholders for the fourth quarter ended December 31, 2012 was $47.91 million, or $0.52 per diluted share, compared to $39.59 million, or $0.43 per diluted share, for the same quarter ended December 31, 2011.

Net interest income for the fourth quarter ended December 31, 2012 was $146.27 million, compared to $141.01 million for the same quarter ended December 31, 2011.

Net income available to common shareholders for the year ended December 31, 2012 was $171.24 million, or $1.86 per diluted share, compared to $148.09 million, or $1.61 per diluted share, for the year ended December 31, 2011.

Net interest income for the year ended December 31, 2012 was $578.91 million, compared to $563.77 million for the year ended December 31, 2011.

James Smith, chairman and CEO, said: "Our record fourth quarter results cap a year of strong performance for Webster. Core net income reached an all-time high in the fourth quarter. Loan originations rose 40 percent in the fourth quarter from a year ago and 46 percent for the full year to set a new record, and our loans to businesses now comprise more than half of our total loan portfolio.

"Webster's solid capital position and earnings momentum will enable us to return capital to our shareholders over time by gradually increasing the dividend payout ratio and repurchasing additional common shares. We are deeper, stronger, and able to meet our customers' financial needs better than ever before."