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WEBSTER FINANCIAL CORPORATION Third Quarter 2022 October 20, 2022Earnings Conference Call
WEBSTER FINANCIAL CORPORATION
October 20, 2022Earnings
Conference Call2 WEBSTER FINANCIAL CORPORATION•Reported results include merger/initiative related
charges of $37.2 million pre-tax
•Adjusted results highlight strong performance
◦Loan growth in diverse segments
◦Modest increase in deposit costs
◦LQ growth in NII of 13.2%
◦LQ growth in PPNR of 17.6%
◦Efficiency ratio of 41%
•NIM expanded 26 bps to 3.54%
•Balance sheet well positioned for rising rates
◦61% of loan portfolio is floating or periodic
◦Floating and periodic rate loans no longer
•Strong capital position; provides optionality
◦Repurchased $100 million WBS sharesThird Quarter 2022 Highlights
Note: Adjusted results are non-GAAP. See non-GAAP reconciliation on pages 8 and 30 through 31.REPORTED ADJUSTED
NET INCOME AVAILABLE TO COMMON NET INCOME AVAILABLE TO COMMON
DILUTED EPS DILUTED EPS
ROATCE ROATCE3 WEBSTER FINANCIAL CORPORATION•Continued progress on key integration milestones, with a sharp focus on executing "business as usual"
•On track to exceed key merger deliverables, including returns, efficiency, and loan growth
•Mid-2023 systems conversion and expense saves on target
•Core businesses are investing in additional front-line colleagues and bringing on new clientsMerger Integration Update
Third Quarter 2022 Accomplishments
•Combined commercial credit risk management system
•Rolled out consolidated commercial client pricing tools
•Corporate real estate consolidation >50% completeNext Steps
•Consolidation of cloud data centers
•Transition Consumer Banking wealth and investment
services operations to third-party provider
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