February 10, 2012

Sign In

  3. Forgot Password? | New Account

Browse News by Topic

Data Products

To Do List

Awards & Events

Bookmark and Share

Webster income down $29M

07/22/08

Waterbury-based Webster Financial Corp., the holding company for Webster Bank, reported a Q2 2008 net loss of $28.9 million, compared to a net gaine of $35.5 million for the second quarter of 2007.

Total revenue was $119.9 million in the second quarter, compared to $185.9 million a year ago. The decline was a result of the $53.7 million in write-downs for other-than-temporary impairment of certain investment securities classified as available for sale and the $1.2 million write-down in direct investments.

Total assets were $17.5 billion on June 30, compared to $17 billion a year ago. Total deposits were $12.1 billion, a decrease of $0.7 billion from a year ago, as brokered certificates of deposits declined $231 million and other certificates of deposit declined $549 million from a year ago.

 
Comments | To post a comment, you must register. | View our Comment FAQ.

This article does not currently have any comments

Post A Comment
Returning User? Please login.
Forgot your password?

or

New to our site? Please create an account (Why?)
Security Code

Please enter the code shown below
(this helps us prevent spam)