Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 135

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 135
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 %$120,082 0.12 %Federal funds purchased— — 78,242 5.45 FHLB advances2,650,111 4.45 2,429,653 5.49 Long-term debt (1)885,773 4.35 887,528 3.55 Total average borrowings$3,646,889 4.31 %$3,515,505 4.82 %Six months ended June 30,20252024(Dollars in thousands)AverageBalanceAverage RateAverageBalanceAverage RateSecurities sold under agreements to repurchase$177,413 2.12 %$125,367 0.33 %Federal funds purchased— — 109,203 5.46 FHLB advances2,382,692 4.46 2,559,642 5.49 Long-term debt (1)886,003 4.35 920,520 3.60 Total average borrowings$3,446,108 4.31 %$3,714,732 4.85 %

(1)The average balance of long-term debt for the three and six months ended June 30, 2024, has been recast in connection with a change in presentation effective as of December 31, 2024. Additional information regarding this change in presentation can be found under the section captioned “Net Interest Income Analysis” contained elsewhere in this Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Additional information regarding period-end borrowings balances and rates can be found within Note 7: Borrowings in the Notes to Condensed Consolidated Financial Statements contained in Part I - Item 1. Financial Statements.

Federal Home Loan Bank and Federal Reserve Bank Stock. The Bank is a member of the FHLB System, which consists of 11 district FHLBs, each of which is subject to the supervision and regulation of the Federal Housing Finance Agency. An activity-based capital stock investment in the FHLB is required in order for the Bank to maintain its membership and access advances and other extensions of credit for sources of funds and liquidity purposes. The FHLB capital stock investment is restricted as there is no market for it, and it can only be redeemed by the FHLB. The Bank held FHLB capital stock of $139.9 million and $91.7 million at