Monday, 26 January 1998 00:00
Connecticut's two largest remaining independent banks made major bucks in 1997. The Waterbury-based Webster Bank earned $53.8 million last year, or $3.89 a share - up a whopping 30 percent from 1996. On release of those earnings, Webster's stock rose $2.13 in trading on the NASDAQ exchange January 20 to close at $64.38. And People's Bank on January 15 announced that it too earned record profits during 1997. The Bridgeport-based bank reported net income