Webster Financial CEO and President James C. Smith received a $2.8 million pay package in 2010, as the company showed signs of recovery from a difficult past few years.
Smith’s pay package included a $1.7 million salary paid in cash and stock and a $1.1 million stock compensation bonus.
The parent company to Waterbury-based Webster Bank reported a $25 million profit in the fourth quarter of 2010, beating Wall Street’s expectations and reversing a loss from the year ago period. The company also repaid its Troubled Asset Relief Funds, which placed compenstation restrictions on Smith and other top executives at the company.
