Financial institutions

Robust growth in net interest income, combined with a lower provision for loan losses, helped boost Webster Financial Corp.'s profits to a record $62.4 million in the third quarter, 26% higher than a year earlier.

The New York bank's total loans rose 8% to $31 billion from a mix of commercial real estate and specialty finance credits.

Net income for the Oregon regional bank was $61.3 million, a slight decline from the same quarter last year. It earned 28 cents per share and fell short of analysts’ expectations,

Growth in asset servicing offset declines in fees from foreign exchange and depositary receipt activity.

Profits at the custody bank rose 16%, but it announced a new streamlining program that is expected to generate yearly savings of $250 million by 2020.

The company, which plans to change its name to Hancock Whitney next year, reported increased profit that reflected balance sheet growth.

Frederick Waddell will retire as CEO of the Chicago custody bank at the end of 2017 but will remain chairman.

TD Bank has pledged $3 million to provide credit counseling to small-business owners. The hope is that those owners will use commercial loans to replace personal credit cards and home equity as their primary forms of business funding.

Wells Fargo was barred by California's treasurer from being hired for another year because of the bank's fraudulent account scandal, leaving the company largely cut off from underwriting work with one of the nation's biggest municipal-bond issuers.

The San Francisco bank hopes to win middle-market business from its new commercial offices in Cleveland and Dallas.