Company: WBS-PG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0000801337-25-000104
Chunk: 104

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 104
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 MBS, Agency CMBS, and Corporate debt securities classified as available-for-sale for proceeds of $1.5 billion. The amounts presented in non-interest income include the portion of any losses that were not due to credit related factors.

Other income increased $15.5 million, or 29.0%, from $53.5 million for the nine months ended September 30, 2024, to $69.0 million for the nine months ended September 30, 2025, primarily due to a $16.0 million net loss on the sale of the factored receivables portfolio during the third quarter of 2024, increased client hedging activities, an increase in the credit valuation adjustment, higher direct investment gains, and a $4.0 million beneficial legal settlement, partially offset by an $11.7 million net gain on sale of mortgage servicing rights in the first quarter of 2024, bank owned life insurance events in the first quarter of 2024, and a $4.4 million net gain on sale of multi-family loans (securitization) in the third quarter of 2024.

9

Non-Interest ExpenseThree months ended September 30,Nine months ended September 30,(Dollars in thousands)2025202420252024Compensation and benefits$209,036 $194,736 $607,611 $570,126 Occupancy19,003 18,879 58,057 53,421 Technology and equipment47,520 56,696 141,171 147,835 Intangible assets amortization8,966 8,491 27,296 26,401 Marketing4,953 4,224 14,151 12,612 Professional and outside services17,815 16,001 53,435 43,048 Deposit insurance15,621 13,555 47,027 52,843 Other expense33,755 36,376 97,279 104,616 Total non-interest expense$356,669 $348,958 $1,046,027 $1,010,902 

Comparison to Prior Year Quarter 

Total non-interest expense increased $7.7 million, or 2.2%, from $349.0 million for the three months ended September 30, 2024, to $356.7 million for the three months ended September 30,