Webster net income drops

Webster Financial Corporation announced today a net income of $35 million, or $0.64 per share, for the third quarter of 2007. The results for the Waterbury-based company are relatively similar to the second quarter, when the net income was $35.5 million, or $0.63 per share. Webster Chairman and CEO James C. Smith said the company has increased its provision for credit losses because delinquency in September rose substantially.