Webster Financial reports Q4 adjusted EPS $1.60, consensus $1.66

Reports Q4 revenue $704.6M, consensus $595.48M. Q4 net charge-offs were $20.2M vs. $28.5M in the prior quarter, and ($1.2M) a year ago. The ratio of net charge-offs to average loans and leases on an annualized basis was 0.17% vs. 0.25% in the prior quarter, and (0.02%) a year ago. Tangible book value per common share was $29.07 from $30.22 at December 31, 2021. "With a continued focus on our clients, colleagues, and communities, we are pleased to report strong financial results in the quarter and for the full-year 2022," said CEO John Ciulla. "As pleased as we are with our financial performance, we are equally proud of the progress we have made from a culture and talent perspective." "Our continued investment in our businesses, including the acquisition of interLINK announced in the fourth quarter, provides further diversification in both our loan and deposit franchises," said CFO Glenn MacInnes. "We continue to develop our existing businesses while executing on operational efficiencies."