Company: WBS-PG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0000801337-25-000104
Chunk: 111

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 111
---
 December 31, 2024, primarily due to additional HSA Bank account holders and an increase in investment account balances as a result of volatility in the equity markets during the nine months ended September 30, 2025.

13

Consumer Banking

Operating Results:Three months ended September 30,Nine months ended September 30,(In thousands)2025202420252024Net interest income$214,465 $202,122 $629,201 $610,578 Non-interest income24,909 28,299 75,704 86,669 Non-interest expense125,397 116,253 371,097 352,279 Pre-tax, pre-provision net revenue$113,977 $114,168 $333,808 $344,968 

Comparison to Prior Year Quarter

Consumer Banking’s PPNR decreased $0.2 million, or 0.2%, for the three months ended September 30, 2025, as compared to the three months ended September 30, 2024, due to a decrease in non-interest income and an increase in non-interest expense, partially offset by an increase in net interest income. The $12.3 million increase in net interest income is primarily due to higher average loan and deposit balances coupled with a higher interest rate spread on loans, partially offset by a lower interest rate spread on deposits. The $3.4 million decrease in non-interest income is primarily due to a gain on an investment portfolio sale in the third quarter of 2024 and lower investment services income. The $9.1 million increase in non-interest expense is primarily due to increased investments in technology, employee-related expenses, and loan-related expenses. 

Comparison to Prior Year to Date 

Consumer Banking’s PPNR decreased $11.2 million, or 3.2%, for the nine months ended September 30, 2025, as compared to the nine months ended September 30, 2024, due to a decrease in non-interest income and an increase in non-interest expense, partially offset by an increase in net interest income. The $18.6 million increase in net interest income is primarily due to higher average loan and deposit balances coupled with a higher interest rate spread on loans, partially offset by a lower interest rate spread on deposits. The $11.0 million decrease in non-interest income is primarily due to the net gain on sale of mortgage servicing rights in the first quarter of