Webster Financial sees Q4 NII $590M-$600M non-FTE

Assumes 25 basis point Fed funds rate cuts in November and December. Sees Q4 adjusted non-interest income $85M-$90M. Expects adjusted expenses of ~$335M and efficiency ratio in the mid-40% range. Sees linked quarter loan growth of 1% to 1.5%. Linked quarter deposits will decline ~1% primarily due to seasonality in public funds. Sees common equity tier 1 ratio near-term target 11% and long-term target of 10.5%. Comments taken from Q3 earnings conference call presentation slides.