The Green Bay, Wis., company's CEO predicted “mid-single-digit” annual loan growth after a third quarter that included a 10% increase in deposits and 4% rise in average loans.
The Connecticut company, which is nearing the threshold to become a systemically important financial institution, has bought three businesses in the past year.
The $36.3 billion-asset bank reported double-digit growth in C&I loans, commercial real estate loans and specialty loans to the private-equity, entertainment and energy industries in the third quarter.
Robust growth in net interest income, combined with a lower provision for loan losses, helped boost Webster Financial Corp.'s profits to a record $62.4 million in the third quarter, 26% higher than a year earlier.
Net income for the Oregon regional bank was $61.3 million, a slight decline from the same quarter last year. It earned 28 cents per share and fell short of analysts’ expectations,
TD Bank has pledged $3 million to provide credit counseling to small-business owners. The hope is that those owners will use commercial loans to replace personal credit cards and home equity as their primary forms of business funding.
