Webster Financial Corp. in Waterbury, Conn., Friday announced that it posted earnings of $22.7 million in the third quarter, compared with a loss of $19.25 million a year earlier.
The $17.8 billion-asset company attributed the improvement to a reduction in credit costs. Webster reported a loan loss provision of $25 million, down 70% from a year earlier. The company's provision in the second quarter was $32 million.
Nonperforming assets were $311 million, or 2.85% of total assets, a reduction of $50 million from a year earlier and $6 million from the second quarter.