WBS » Topics » Net loss of $16.8 million or $.42 loss per diluted share includes:

This excerpt taken from the WBS 8-K filed Oct 21, 2008.

Net loss of $16.8 million or $.42 loss per diluted share includes:

 

   

Improvement in net interest income, net interest margin, deposit service fees and reduced noninterest expenses compared to the second quarter

 

   

Increased provision for credit losses to $45.5 million consisting of $29.9 million for the continuing portfolios and $15.6 million for the liquidating portfolio; the coverage for credit losses for the continuing portfolios increased to 136 basis points compared to 130 basis points in the second quarter

 

   

Charges of $35.6 million for other-than-temporary impairment ( “OTTI”) on certain investment securities and loss on sale of securities, and $2.5 million primarily related to the Company’s OneWebster initiative and other charges

 

   

Tangible equity ratio of 6.34 percent as of September 30, 2008; Tier 1 leverage ratio of 8.65 percent

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