Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 150

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 150
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 — (4,387)Stock-based compensation— — (26,467)— 53,660 — 27,193 Common shares acquired from stock compensation plan activity— — — — (16,619)— (16,619)Common stock repurchase program— — — — (65,795)— (65,795)Balance at June 30, 2024$283,979 $1,828 $6,153,286 $3,534,351 $(536,277)$(627,899)$8,809,268 

See accompanying Notes to Condensed Consolidated Financial Statements.

37

WEBSTER FINANCIAL CORPORATION AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

 Six months ended June 30,(In thousands)20252024Operating Activities:Net income$485,765 $397,956 Adjustments to reconcile net income to net cash provided by operating activities:Provision for credit losses124,000 104,500 Deferred income tax expense19,669 7,908 Stock-based compensation29,132 27,193 Depreciation and amortization of property and equipment and intangible assets36,327 36,510 Net (accretion) and amortization of interest-earning assets and borrowings(80,485)(32,845)Amortization of low-income housing tax credit investments66,672 42,249 Reduction of ROU lease assets15,520 16,522 Net (gain) loss on sale of investment securities(220)59,741 Originations of loans held for sale(4,781)(31,259)Proceeds from sale of loans held for sale5,025 5,770 Net (gain) on sale of mortgage servicing rights— (11,655)(Increase) in cash surrender value of life insurance policies(17,164)(12,305)(Gain) from life insurance policies(1,492)(8,560)(Gain) on sale of alternative investments(5,748)— Other operating activities, net(2,927)(10,061)Net (increase) decrease in derivative contract assets and liabilities(147,889)39,768 Net (increase) decrease in prepaid expenses and other assets(76,566)241,426 Net (decrease) in accrued expenses and