Webster Financial sees FY24 loan growth of 4% to 5%

Webster Financial’s 2024 full year outlook includes deposit growth of approximately 5%, full year net interest income of $2.32 billion to $2.34 billion, excluding ~$55 million of FTE adjustments, assuming 1 Fed funds rate cut in December. The company expects full year adjusted expenses to be in the range of $1.30 billion to $1.325 billion, with efficiency ratio in the mid 40% range. Webster sees FY24 common equity tier 1 ratio near-term target of 11%; long-term target of 10.5%, the company stated in Q2 earnings presentation slides.