WATERBURY, Conn. (AP) – Webster Financial Corp. (WBS) on Tuesday reported fourth-quarter profit of $69.9 million.

The bank, based in Waterbury, Connecticut, said it had earnings of 73 cents per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 67 cents per
share.

The holding company for Webster Bank posted revenue of $271 million in the period.

For the year, the company reported profit of $255.4 million, or $2.67 per share.

Webster Financial shares have increased slightly more than 4 percent since the beginning of the year. The stock has risen 12 percent in the last 12 months.

(© Copyright 2018 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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