WBS » Topics » Noninterest Income

This excerpt taken from the WBS 10-Q filed Nov 5, 2007.

Noninterest Income

Total noninterest income, was $60.2 million for the three months ended September 30, 2007, an increase of $53.4 million and for the nine months ended September 30, 2007 was $181.6 million, an increase of $62.5 million from the comparable period in the prior year. The quarterly and year to date increase when compared to the same periods in 2006 are primarily due to a prior year loss on the write-down of available for sale mortgage-backed securities of $48.9 million. Excluding the prior year write-down, total noninterest income for the three months ended September 30, 2007 increased $4.5 million, or 8.1%, from the comparable period in 2006. For the nine months ended September 30, 2007, excluding the prior year write-down, noninterest income increased $13.6 million, or 8.1% from the comparable period in 2006. The increase for the three months ended September 30, 2007 is primarily attributable to a $4.7 million increase in deposit service fees reflecting debit card interchange income and the implementation during the year of a new consumer fee structure and a $2.0 million increase in mortgage banking activities offset by a $1.8 million decrease in the gain on the sales of securities. The increase in noninterest income for the nine months ended September 30, 2007 when compared to the same period in 2006, was primarily due to increases in deposit service fees and a gain on the redemption of Webster Capital Trust I and II securities during the second quarter of 2007, in addition to increased fees from mortgage banking activities and the wealth and investment services lines of businesses partially offset by decreases in insurance revenue and the net gain on securities transactions.

This excerpt taken from the WBS 10-Q filed Aug 8, 2007.

Noninterest Income

Total noninterest income, was $64.0 million for the three months ended June 30, 2007, an increase of $6.9 million, or 12.1% from the comparable period in 2006, and for the six months ended June 30, 2007 was $121.4 million, an increase of $9.1 million, or 8.1%, from the comparable period in 2006. The increase for the three months ended June 30, 2007 is primarily attributable to a $4.6 million increase in deposit service fees reflecting growth in deposits and the recent implementation of a new consumer fee structure and a $2.1 million gain on the redemption of Webster Capital Trust I and II securities that had been held by Webster. The increase in noninterest income for the six months ended June 30, 2007 when compared to the same period in 2006, was primarily due to increases in deposit service fees and the gain on Webster Capital Trust I and II securities, as described above, in addition to increased fees from the wealth and investment services lines of business.

This excerpt taken from the WBS 10-Q filed May 4, 2007.

Noninterest Income

Total noninterest income, was $57.4 million for the three months ended March 31, 2007, an increase of $2.2 million, or 4.0% from the comparable period in 2006. The increase for the three months ended March 31, 2007 is attributable to a $3.5 million increase in deposit service fees partially offset by a decrease in mortgage banking activities reflecting a $700,000 write down in value of one residential construction loan in Florida classified as held for sale.

 

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