News Topic: Webster Bank

The slowdown in elective medical procedures caused by the coronavirus pandemic led to less spending from HSAs and a decline in interchange income for the Connecticut bank. ... Read full article

James Smith, who recently completed his gradual transition out of banking, was spearheading a public-private economic development plan for Connecticut when the coronavirus pandemic hit. The crisis made the need for the plan greater — and the job harder. ... Read full article

The banking industry has some work to do to improve its overall reputation, but the good news is that most customers have positive feelings about their own banks. Here are 10 banks that made big strides. ... Read full article

It’s the one consumer loan category where balances continue to fall, and disruption from nimbler fintechs is a big reason why. To win back market share, banks will need to beat the upstarts at their own game. ... Read full article

In a roundtable discussion, the heads of four banks called on Congress to move on CRA modernization and address the cannabis conundrum, while dismissing arguments that midsize banks need to merge to stay competitive. ... Read full article

John Ciulla, one year in as CEO of Webster Financial, discusses how he is preparing for the next downturn, picking his spots in tech spending, and remaining cautious about M&A. ... Read full article

Most big banks are launching robo-advisers to compete for a new breed of wealth management customer. The risk is that automated services will disappoint traditional customers. ... Read full article

The Waterbury, Conn., company also posted a double-digit gain in net interest income thanks to a 7% increase in commercial loan balances and a widening net interest margin. ... Read full article

James Smith said his late enrollment in the state’s Republican Party meant he would be ineligible to be a candidate in its August primary and that he did not want to disrupt the nomination process. ... Read full article

James Smith said he would decide soon whether he’ll seek the Republican nomination for governor. He said he was inspired partly by his recent work on a commission tasked with recommending fixes to the state’s fiscal and economic problems. ... Read full article

Since stepping down as CEO of Webster Bank last month, James Smith has spent much of his time co-chairing a panel tasked with solving his home state’s fiscal and economic woes. Banks, and perhaps even fintechs, could be a part of its comeback story, he ... Read full article

Webster Bank’s partnership with the national broker-dealer LPL is a reversal of its initial opposition to robo-advisers. It is the latest regional bank to enter a market first claimed by the biggest banks. ... Read full article

Net interest income has surged thanks to rising rates, but noninterest income has lagged as trading revenue has weakened, refi demand has softened and fees from deposit service charges have barely budged. Is this the new normal? ... Read full article

Some are in new roles or replacing legends, others are embracing new strategies or eyeing big deals and at least one is currently out of banking — but could soon resurface. Here are the industry executives to keep an eye on in 2018. ... Read full article

It’s good to be a business lender with a long contact list. Loan growth is weak and the talent pool has been shrinking, so banks big and small are paying top dollar to get an edge. ... Read full article

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. ... Read full article

The Connecticut bank's president, John Ciulla, will succeed longtime CEO Jim Smith, who is retiring after three decades on the job. ... Read full article

A jumble of security vendors and lack of cohesive planning weaken many banks’ cybersecurity defenses, experts say. ... Read full article