WBS » Topics » Other preliminary fourth quarter 2007 earnings information:

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

Other preliminary fourth quarter 2007 earnings information:

Webster previously disclosed that stock buyback activity in the fourth quarter coupled with recent Fed Funds rate reductions and higher levels of nonaccruals would reduce the net interest margin from the 3.38 percent reported for the third quarter of 2007. As a result, the company expects the net interest margin to decline by 12 basis points to 3.26 percent for the fourth quarter of 2007. While Webster is essentially neutral to interest rate shifts over a twelve-month period, recent reductions in the Fed Funds rate have resulted in faster downward re-pricing of loans versus deposits in the near term. Also, given the impact of the reserving decisions on fourth quarter earnings, Webster does not anticipate resuming stock buybacks in the near term. Webster repurchased 1.3 million shares in the fourth quarter of 2007.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki