Webster Financial Corp.’s credit investment in Connecticut and New England companies lifted the Waterbury regional lender’s fourth-quarter and full-year net profits.
For three months ended Dec. 31, Webster Bank’s parent netted a record $48.4 million, or 53 cents a diluted share, after deducting preferred dividends, up from $41.1 million, or 45 cents a share, netted a year earlier.
For the full year, Webster netted $189.2 million, or $2.08 a diluted share, after preferred dividends, up from $168.7 million, or $1.86 a share, earned in 2013.
“Strong loan demand boosted revenue and profit in the fourth quarter and full year 2014,’’ Webster Chairman and CEO James C. Smith said. “Record lending to businesses once again led the way…”
