Company: WBS-PG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0000801337-25-000104
Chunk: 110

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 110
---
 net revenue$72,853 $66,458 $213,743 $199,392 

Comparison to Prior Year Quarter 

Healthcare Financial Services’ PPNR increased $6.4 million, or 9.6%, for the three months ended September 30, 2025, as compared to the three months ended September 30, 2024, due to increases in net interest income and non-interest income, partially offset by an increase in non-interest expense. The $6.1 million increase in net interest income is primarily due to higher deposit balances, partially offset by lower deposit spreads. The $0.8 million increase in non-interest income is primarily due to higher interchange fees and medical fees. The $0.5 million increase in non-interest expense is primarily due to higher compensation and benefits costs, partially offset by lower service contract expenses.

Comparison to Prior Year to Date 

Healthcare Financial Services’ PPNR increased $14.4 million, or 7.2%, for the nine months ended September 30, 2025, as compared to the nine months ended September 30, 2024, due to increases in net interest income and non-interest income, partially offset by an increase in non-interest expense. The $22.3 million increase in net interest income is primarily due to higher deposit balances, partially offset by lower deposit spreads. The $0.3 million increase in non-interest income is primarily due to higher interchange fees and medical fees. The $8.2 million increase in non-interest expense is primarily due to higher compensation and benefits and technology costs, and a one-time lease termination benefit in the second quarter of 2024, partially offset by lower service contract expenses.

Selected Balance Sheet and Off-Balance Sheet Information:(In thousands)September 30,2025December 31,2024Deposits$10,305,213 $9,966,773 Assets under administration, through linked investment accounts (off-balance sheet)6,270,170 5,321,736 

Deposits increased $338.4 million, or 3.4%, at September 30, 2025, as compared to December 31, 2024, primarily due to additional HSA Bank and Ametros account holders.

Assets under administration, through linked investment accounts, increased $948.4 million, or 17.8%, at September 30, 2025, as compared to