Webster Financial Corp. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net interest income was $153.88 million against $146.27 million a year ago. Income before income taxes was $62.51 million against $68.79 million a year ago. Net income attributable to the company was $43.75 million against $48.53 million a year ago. Net income available to common shareholders was $41.11 million against $47.91 million a year ago. Diluted earnings per share were $0.45 against $0.52 a year ago. Earnings per diluted share, excluding one-time items, would be $0.52. Return on average assets was 0.85% against 0.98% a year ago. Return on average tangible common shareholders' equity was 11.14% against 13.66% a year ago. Return on average common shareholders' equity was 8.06% against 9.74% a year ago. Excluding the other-than-temporary impairment (OTTI) charge, return on average assets and return on average tangible common equity were 0.94% and 12.38%, respectively, in the quarter compared to 0.98% and 13.66%, respectively, in the year ago quarter. Excluding the OTTI charge, return on average common shareholders' equity was 8.98% in the fourth quarter of 2013 compared to 9.74% a year ago.

For the year, the company reported net interest income was $596.73 million against $578.91 million a year ago. Income before income taxes was $256.22 million against $248.36 million a year ago. Net income attributable to the company was $179.55 million against $173.7 million a year ago. Net income available to common shareholders was $168.75 million against $171.24 million a year ago. Diluted earnings per share were $1.86 against $1.86 a year ago. Book value per share was $22.77.

The company reported net charge-offs were $14.0 million for the fourth quarter ended December 31, 2013.

The company expects effective tax rate on a non-FTE basis to be around 31%, 32% in the first quarter of 2014.