AcquisitionsApr 28, 2026, 04:23 PM
WBS Q1 EPS $1.50; Adjusted EPS $1.57; Banco Santander Acquisition Update
AI Summary
Webster Financial Corporation reported Q1 2026 net income of $239.3 million, or $1.50 per diluted share, with adjusted EPS of $1.57. The company also provided an update on its proposed acquisition by Banco Santander, S.A., a cash and stock transaction anticipated to close in the second half of 2026, subject to approvals. Webster will not conduct an earnings conference call due to the pending transaction.
Key Highlights
- Banco Santander to acquire WBS for $48.75 cash and 2.0548 Santander shares per WBS share.
- Transaction expected to close in H2 2026, subject to stockholder and regulatory approvals.
- Q1 2026 diluted EPS of $1.50, up from $1.30 in Q1 2025.
- Q1 2026 adjusted diluted EPS of $1.57.
- Q1 2026 revenue of $735.9 million.
- Period end loans and leases $57.2 billion, up 1.2% from prior quarter.
- Period end deposits $69.0 billion, up 0.4% from prior quarter.
- Net interest margin 3.36%, up 1 basis point from prior quarter.