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Webster Financial Corp. reported Tuesday that net income fell 30.5 percent in this year's first quarter as the provision for credit losses more than quintupled compared with a year ago.
The Waterbury-based bank holding company also announced it has a definitive agreement to sell Webster Risk Services, a third-party administrator of workers' compensation claims.
Webster Financial retained the unit when it sold its insurance business Feb. 1. Webster wouldn't disclose who's buying Webster Risk and said the deal is expected to be completed during the second quarter.