Webster Financial Corporation Reports Q1 2023 Net Income of $221 Million

Webster Financial Corporation,(WBS) a leading financial services provi der, has released its financial statements for the first quarter of 2023. The company reported a net income of $221 million, reflecting a significant improvement compared to the same period last year when it reported a loss of $16.7 million. Additionally, Webster Financial Corporation generated total revenue of $830.9 million during the first quarter of 2023.

Let's delve into the key financial data from the condensed consolidated balance sheets, statements of income, and statements of comprehensive income for the first quarter of 2023.

Condensed Consolidated Balance Sheets (In thousands, except share data)

The balance sheet highlights the company's assets and liabilities as of March 31, 2023, and compares them to December 31, 2022.