Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 168

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 168
---
$(556,383)Other comprehensive income before reclassifications96,966 7,752 — 104,718 Amounts reclassified from accumulated other comprehensive (loss)(385)2,372 277 2,264 Other comprehensive income, net of tax96,581 10,124 277 106,982 Balance, end of period$(423,737)$524 $(26,188)$(449,401)Three months ended March 31, 2024(In thousands)Investment Securities Available-for-SaleDerivative Financial InstrumentsDefined Benefit Pension and Other Postretirement Benefit PlansTotalBalance, beginning of period$(517,450)$(2,869)$(30,252)$(550,571)Other comprehensive (loss) income before reclassifications(42,591)(37,937)251 (80,277)Amounts reclassified from accumulated other comprehensive (loss)6,320 7,948 479 14,747 Other comprehensive (loss) income, net of tax(36,271)(29,989)730 (65,530)Balance, end of period$(553,721)$(32,858)$(29,522)$(616,101)The following table further summarizes the amounts reclassified from accumulated other comprehensive (loss):Accumulated Other Comprehensive (Loss) ComponentsThree months endedAssociated Line Item on the Condensed Consolidated Statements of IncomeMarch 31,20252024(In thousands)Investment securities available-for-sale:Net unrealized gains (losses) (1)$528 $(8,688)Non-interest income (2)Tax benefit(143)2,368 Income tax expenseNet of tax$385 $(6,320)Derivative financial instruments:Interest payments (3)$(3,255)$(10,492)Interest and fees on loans and leasesHedge terminations— (34)Long-term debt interest expensePremium amortization— (272)Interest and fees on loans and leasesTax benefit883 2,850 Income tax expenseNet of tax$(2,372)$(7,948)Defined benefit pension and other postretirement benefit plans:Actuarial net loss amortization$(380)$(657)Other expenseTax benefit103 178 Income tax expenseNet of tax$(277)$(479)(1)Reclassification adjustments for net unrealized gains (losses) on investment securities available-for-sale that were sold during the reporting period are determined by