Please find something interesting about the balancesheet and income statement and explain.
WEBSTER FINANCIAL CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS December 31, 2019 2018 s 185,341 S 260,422 72,554 69,077 2,925,833 2,898,730 5,293,918 4,325,420 149,046 149,286 36,053 11,869 20,036,986 18,465,489 (209.096) (212.353) 19,827,890 18,253,136 61,975 96,516 270,413 124,850 538,373 538,373 21,917 25,764 550,651 543,616 455.380 313,256 S 30.389.344 S 27.610.315 A thorands. cregut share data hain) Assets: Cash and due from banks Interest-bearing deposits Investment securities available-for-sale, at fair value Investment securities held-to-maturity (fair value of 5,380,653 and 4,209,121) Federal Home Loan Bank and Federal Reserve Bank stock Loans held for sale (valued under fair value option 35,750 and 7,908) Loans and leases Allowance for loan and lease losses Loans and leases, net Deferred tax assets, net Premises and equipment, net Goodwill Other intangible assets, net Cash surrender value of life insurance policies Accrued interest receivable and other assets Total assets Liabilities and shareholders' equity: Deposits: Non-interest-bearing Interest-bearing Total deposits Securities sold under agreements to repurchase and other borrowings Federal Home Loan Bank advances Long-term debt Operating lease liabilities Accrued expenses and other liabilities Total liabilities Shareholders' equity Preferred stock, 0.01 par value: Authorized - 3,000,000 shares; Series F issued and outstanding (6,000 shares) Common stock, S0.01 par value: Authorized - 200,000,000 shares; Issued (93,686,311 shares) Paid-in capital Retained earnings Treasury stock, at cost (1,659,749 and 1,508,456 shares) Accumulated other comprehensive loss, net of tax Total shareholders' equity Total liabilities and shareholders' equity See accompanying Notes to Consolidated Financial Statements. $ 4,446,463 $ 4,162,446 18.878.283 17.696.399 23,324,746 21,858,845 1,040,431 581,874 1,948,476 1,826,808 540,364 226,021 174,396 153.161 230.252 27.181.574 24.723.800 145,037 145,037 937 937 1,113,250 1,114,394 2,061,352 1,828,303 (76,734) (71,504) (36,072) (130.652) 3,207,770 2.886,515 S 30.389.344 S 27.610.315 WEBSTER FINANCIAL CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME Years ended December 31, 2018 2019 2017 s 924,693 $ 842,449 $ 207,294 191,493 21,869 20,597 727 628 1.154,583 1.055.167 708,566 181,131 22,874 1,034 913.605 129,577 17,953 31,399 20.527 199.456 955,127 37.800 917.327 90,407 13,491 33,461 11.127 148.486 906,681 42.000 864681 62,253 14,365 30,320 10,380 117.318 796,287 40.900 755.387 168,022 31,327 32,932 6,115 14,612 29 162,183 32,025 32,843 4,424 14,614 151,137 26,448 31,055 9,937 14,627 in thousands. creat per share data) Interest Income: Interest and fees on loans and leases Taxable interest and dividends on securities Non-taxable interest on securities Loans held for sale Total interest income Interest Expense: Deposits Securities sold under agreements to repurchase and other borrowings Federal Home Loan Bank advances Long-term debt Total interest expense Net interest income Provision for loan and lease losses Net interest income after provision for loan and lease losses Non-interest Income: Deposit service fees Loan and lease related fees Wealth and investment services Mortgage banking activities Increase in cash surrender value of life insurance policies Gain on sale of investment securities, net Impairment loss on securities recognized in earnings Other income Total non-interest income Non-interest Expense: Compensation and benefits Occupancy Technology and equipment Intangible assets amortization Marketing Professional and outside services Deposit insurance Other expense Total non-interest expense Income before income tax expense Income tax expense Net income Preferred stock dividends and other Earnings applicable to common shareholders Earnings per common share: Basic Diluted See accompanying Notes to Consolidated Financial Statements. 32.278 285.315 36,479 282.568 (126) 26.400 259.478 395,402 57,181 105,283 3,847 16,286 21,380 17,954 98,617 715.950 486,692 103,969 382,723 (9.738) 372.985 S 381,496 59,463 97,877 3,847 16,838 20,300 34,749 91.046 705.616 441,633 81.215 360,418 (8.715) 351.703S 356,505 60,490 89,464 4,062 17,421 16,858 25,649 90.626 661,075 353,790 98.351 255,439 (8.608) 246,831 S S 4.07 $ 4.06 3.83 $ 3.81 2.68 2.67 WEBSTER FINANCIAL CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME in thousands Net income Other comprehensive income (loss), net of tax: Investment securities available-for-sale Derivative instruments Defined benefit pension and postretirement benefit plans Other comprehensive income (loss), net of tax Comprehensive income See accompanying Notes to Consolidated Financial Statements. Years ended December 31. 2019 2018 2017 $ 382,723 $ 360,418 $ 255,439 88,625 (43,427) (7,590) 129 5,703 4,565 5.826 (1.397 4.135 94.580 (39.121) 1.110 S 477,303 $ 321.297 $ 256,549 WEBSTER FINANCIAL CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS December 31, 2019 2018 s 185,341 S 260,422 72,554 69,077 2,925,833 2,898,730 5,293,918 4,325,420 149,046 149,286 36,053 11,869 20,036,986 18,465,489 (209.096) (212.353) 19,827,890 18,253,136 61,975 96,516 270,413 124,850 538,373 538,373 21,917 25,764 550,651 543,616 455.380 313,256 S 30.389.344 S 27.610.315 A thorands. cregut share data hain) Assets: Cash and due from banks Interest-bearing deposits Investment securities available-for-sale, at fair value Investment securities held-to-maturity (fair value of 5,380,653 and 4,209,121) Federal Home Loan Bank and Federal Reserve Bank stock Loans held for sale (valued under fair value option 35,750 and 7,908) Loans and leases Allowance for loan and lease losses Loans and leases, net Deferred tax assets, net Premises and equipment, net Goodwill Other intangible assets, net Cash surrender value of life insurance policies Accrued interest receivable and other assets Total assets Liabilities and shareholders' equity: Deposits: Non-interest-bearing Interest-bearing Total deposits Securities sold under agreements to repurchase and other borrowings Federal Home Loan Bank advances Long-term debt Operating lease liabilities Accrued expenses and other liabilities Total liabilities Shareholders' equity Preferred stock, 0.01 par value: Authorized - 3,000,000 shares; Series F issued and outstanding (6,000 shares) Common stock, S0.01 par value: Authorized - 200,000,000 shares; Issued (93,686,311 shares) Paid-in capital Retained earnings Treasury stock, at cost (1,659,749 and 1,508,456 shares) Accumulated other comprehensive loss, net of tax Total shareholders' equity Total liabilities and shareholders' equity See accompanying Notes to Consolidated Financial Statements. $ 4,446,463 $ 4,162,446 18.878.283 17.696.399 23,324,746 21,858,845 1,040,431 581,874 1,948,476 1,826,808 540,364 226,021 174,396 153.161 230.252 27.181.574 24.723.800 145,037 145,037 937 937 1,113,250 1,114,394 2,061,352 1,828,303 (76,734) (71,504) (36,072) (130.652) 3,207,770 2.886,515 S 30.389.344 S 27.610.315 WEBSTER FINANCIAL CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME Years ended December 31, 2018 2019 2017 s 924,693 $ 842,449 $ 207,294 191,493 21,869 20,597 727 628 1.154,583 1.055.167 708,566 181,131 22,874 1,034 913.605 129,577 17,953 31,399 20.527 199.456 955,127 37.800 917.327 90,407 13,491 33,461 11.127 148.486 906,681 42.000 864681 62,253 14,365 30,320 10,380 117.318 796,287 40.900 755.387 168,022 31,327 32,932 6,115 14,612 29 162,183 32,025 32,843 4,424 14,614 151,137 26,448 31,055 9,937 14,627 in thousands. creat per share data) Interest Income: Interest and fees on loans and leases Taxable interest and dividends on securities Non-taxable interest on securities Loans held for sale Total interest income Interest Expense: Deposits Securities sold under agreements to repurchase and other borrowings Federal Home Loan Bank advances Long-term debt Total interest expense Net interest income Provision for loan and lease losses Net interest income after provision for loan and lease losses Non-interest Income: Deposit service fees Loan and lease related fees Wealth and investment services Mortgage banking activities Increase in cash surrender value of life insurance policies Gain on sale of investment securities, net Impairment loss on securities recognized in earnings Other income Total non-interest income Non-interest Expense: Compensation and benefits Occupancy Technology and equipment Intangible assets amortization Marketing Professional and outside services Deposit insurance Other expense Total non-interest expense Income before income tax expense Income tax expense Net income Preferred stock dividends and other Earnings applicable to common shareholders Earnings per common share: Basic Diluted See accompanying Notes to Consolidated Financial Statements. 32.278 285.315 36,479 282.568 (126) 26.400 259.478 395,402 57,181 105,283 3,847 16,286 21,380 17,954 98,617 715.950 486,692 103,969 382,723 (9.738) 372.985 S 381,496 59,463 97,877 3,847 16,838 20,300 34,749 91.046 705.616 441,633 81.215 360,418 (8.715) 351.703S 356,505 60,490 89,464 4,062 17,421 16,858 25,649 90.626 661,075 353,790 98.351 255,439 (8.608) 246,831 S S 4.07 $ 4.06 3.83 $ 3.81 2.68 2.67 WEBSTER FINANCIAL CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME in thousands Net income Other comprehensive income (loss), net of tax: Investment securities available-for-sale Derivative instruments Defined benefit pension and postretirement benefit plans Other comprehensive income (loss), net of tax Comprehensive income See accompanying Notes to Consolidated Financial Statements. Years ended December 31. 2019 2018 2017 $ 382,723 $ 360,418 $ 255,439 88,625 (43,427) (7,590) 129 5,703 4,565 5.826 (1.397 4.135 94.580 (39.121) 1.110 S 477,303 $ 321.297 $ 256,549
