Webster Financial Corporation (NYSE:WBS) Q1 2024 Earnings Conference Call April 23, 2024 9:00 AM ET

Company Participants

Emlen Harmon - Director of IR
John Ciulla - CEO
Glenn MacInnes - CFO

Conference Call Participants

Matt Breese - Stephens
Chris McGratty - KBW
Mark Fitzgibbon - Piper Sandler
Steven Alexopoulos - JP Morgan
Casey Haire - Jefferies
Jared Shaw - Barclays.
Manan Gosalia - Morgan Stanley
Daniel Tamayo - Raymond James
Bernard von-Gizycki - Deutsche Bank
Laurie Hunsicker - Seaport Research Partners

Operator

Good morning, and welcome to the Webster Financial First Quarter 2024 Earnings Call. Please note, this event is being recorded. I’d now like to introduce Webster's Director of Investor Relations, Emlen Harmon to introduce the call. Mr. Harmon, please go ahead.

Emlen Harmon

Good morning. Before we begin our remarks, I want to remind you that the comments made by management may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to the Safe Harbor rules. Please review the forward-looking disclaimer and Safe Harbor language in today's press release and presentation for more information about risks and uncertainties, which may affect us. The presentation accompanying management's remarks can be found on the company's Investor Relations site at investors.websterbank.com. For the Q&A portion of the call, we ask that each participant ask just one question and one follow-up before returning to the queue.

I'll now turn it over to Webster Financial CEO and Chairman, John Ciulla.

John Ciulla

Thanks, Emlen. Good morning and welcome to Webster Financial Corporation's First Quarter 2024 Earnings Call. We appreciate you joining us this morning. I will provide remarks on our high level results and operations before turning it over to Glenn to cover our financial results in greater detail. We're off to a solid start this year, having achieved a number of significant accomplishments, both strategically and financially. I first want to provide some color around initiatives that solidify Webster's commitment to our clients, communities and colleagues, as these have been and continue to be core to our company values.

In the fourth quarter, Webster launched the You're Home program, a special purpose credit program offering down payment assistance and flexible credit requirements to help expand homeownership opportunities for low to moderate income first-time homebuyers. The You're Home program is the most recent component of our broad-community investment strategy, a multi-year commitment to expanding access to capital, providing loans, investments, technical assistance and financial services to individuals and small businesses in LMI neighborhoods.