Webster Financial enters second quarter 2026 with $1.56 EPS ahead of Santander acquisition
Webster Financial reported net income of $249.4 million, or $1.56 per diluted share, for the second quarter ended June 30, 2026, compared to $1.52 per share a year ago. The company announced that its pending acquisition by Banco Santander—under which Webster shareholders will receive $48.75 in cash and 2.0548 Banco Santander ADRs per share—has cleared approvals from Webster's stockholders (May 26, 2026), the Office of the Comptroller of the Currency (June 12, 2026), and the European Central Bank (July 21, 2026), with closing expected in the second half of 2026 pending Federal Reserve approval. Webster withdrew forward-looking financial guidance in light of the transaction.
Key facts
- Earnings per diluted share of $1.56 for Q2 2026, compared to $1.52 for Q2 2025
- Transaction consideration: $48.75 in cash and 2.0548 Banco Santander ordinary shares (as ADRs) per Webster share
- Approvals received: Webster stockholders (May 26, 2026), OCC (June 12, 2026), European Central Bank (July 21, 2026)
- Transaction expected to close in second half of 2026, subject to Federal Reserve approval
- Loans and leases balance of $57.9 billion, up 7.8 percent year-over-year
- Deposits balance of $70.3 billion, up 6.0 percent year-over-year
- Net interest margin of 3.26 percent, compared to 3.44 percent in Q2 2025
- Non-performing loans and leases at 0.74 percent of total loans, down from 1.00 percent in Q2 2025
- Common equity tier 1 ratio of 11.69 percent (preliminary for June 30, 2026)
- Forward-looking financial outlook withdrawn due to pending transaction
Why it matters
The acquisition closes out Webster's independent operations and triggers the removal of its forward guidance; shareholders will receive a fixed cash-and-stock consideration pending final Federal Reserve clearance, eliminating future earnings upside or downside for current holders as the company approaches its orderly delisting from NYSE.
Share
Derived from 8-K filed 2026-07-21. Not investment advice. View the source filing on SEC.gov →