Selected Quarterly Consolidated Financial Information

12 Months Ended

Dec. 31, 2011

Selected Quarterly Consolidated Financial Information [Abstract]

Selected Quarterly Consolidated Financial Information

NOTE 24: Selected Quarterly Consolidated Financial Information (Unaudited)

	2011
(In thousands, except per share data)	First Quarter (a)			Second Quarter (a)			Third Quarter (a)			Fourth Quarter
Interest income	$	176,209		$	176,099		$	174,562		$	172,853
Interest expense		36,048			35,186			32,877			31,844
Net interest income		140,161			140,913			141,685			141,009
Provision for loan and lease losses		10,000			5,000			5,000			2,500
Net gain on sale of investment securities		2,176			1,647			—			—
Net loss on trading securities		(1,799	)		—			—			—
Other non-interest income		43,539			44,542			44,691			42,246
Litigation		292			194			(254	)		(9,755	)
Other non-interest expense		128,833			131,867			123,472			136,327
Income from continuing operations before income tax expense		44,952			50,041			58,158			54,183
Income tax expense		12,368			15,857			15,927			13,799
Income from continuing operations		32,584			34,184			42,231			40,384
Income from discontinued operations, net of tax		1,995			—			—			—
Net income		34,579			34,184			42,231			40,384
Less: Net loss attributable to noncontrolling interests		(1	)		—			—			—
Net income attributable to Webster Financial Corporation		34,580			34,184			42,231			40,384
Preferred stock dividends		(831	)		(831	)		(831	)		(793	)
Net income available to common shareholders	$	33,749		$	33,353		$	41,400		$	39,591
Net income per common share:
Basic:
Income from continuing operations	$	0.36		$	0.38		$	0.48		$	0.45
Income from discontinued operations, net of tax		0.02			—			—			—
Net income available to common shareholders	$	0.38		$	0.38		$	0.48		$	0.45
Diluted:
Income from continuing operations	$	0.34		$	0.36		$	0.45		$	0.43
Income from discontinued operations, net of tax		0.02			—			—			—
Net income available to common shareholders	$	0.36		$	0.36		$	0.45		$	0.43

(a) Certain previously reported information has been corrected to reflect the deferrment of certain commercial loan fees. For more information refer to Note 1.

	2010
(In thousands, except per share data)	First Quarter (a)			Second Quarter (a)			Third Quarter (a)			Fourth Quarter (a)
Interest income	$	178,157		$	178,757		$	177,027		$	174,706
Interest expense		46,436			45,692			41,569			37,679
Net interest income		131,721			133,065			135,458			137,027
Provision for loan and lease losses		43,000			32,000			25,000			15,000
Net gain on sale of investment securities		4,318			4,364			1,027			39
Net impairment loss recognized in earnings		(3,680	)		(1,188	)		(970	)		—
Net gain on trading securities		—			8,584			1,205			2,256
Other non-interest income		45,265			52,099			45,185			42,721
Litigation		—			19,676			2,800			—
Other non-interest expense		133,624			127,991			126,921			127,962
Income from continuing operations before income tax expense		1,000			17,257			27,184			39,081
Income tax expense		200			378			4,561			7,219
Income from continuing operations		800			16,879			22,623			31,862
Income from discontinued operations, net of tax		—			—			—			94
Net income		800			16,879			22,623			31,956
Less: Net income (loss) attributable to noncontrolling interests		—			7			(3	)		(1	)
Net income attributable to Webster Financial Corporation		800			16,872			22,626			31,957
Preferred stock dividends		(5,455	)		(4,581	)		(4,581	)		(3,469	)
Accretion of preferred stock discount		(2,035	)		(327	)		(327	)		(4,141	)
Net (loss) income available to common shareholders	$	(6,690	)	$	11,964		$	17,718		$	24,347
Net income per common share:
Basic:
(Loss) income from continuing operations	$	(0.09	)	$	0.15		$	0.23		$	0.31
Income from discontinued operations, net of tax		—			—			—			—
Net (loss) income available to common shareholders	$	(0.09	)	$	0.15		$	0.23		$	0.31
Diluted:
(Loss) income from continuing operations	$	(0.09	)	$	0.14		$	0.22		$	0.29
Income from discontinued operations, net of tax		—			—			—			—
Net (loss) income available to common shareholders	$	(0.09	)	$	0.14		$	0.22		$	0.29

(a) Certain previously reported information has been corrected to reflect the deferrment of certain commercial loan fees. For more information refer to Note 1.