Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 90

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 90
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 $1,140,036 Add: FTE adjustment13,870 14,315 27,481 30,194  Non-interest income94,657 42,298 187,263 141,651  Other income (1)10,528 7,802 21,560 15,428 Less: Operating lease depreciation9 560 25 1,223         Gain (loss) on sale of investment securities, net— (49,915)220 (59,741)Net gain on sale of mortgage servicing rights— — — 11,655 Adjusted income$740,228 $686,067 $1,469,433 $1,374,172 Efficiency ratio45.40 %46.22 %45.59 %45.74 %Non-interest expense as a percentage of total revenue (GAAP)48.29 %53.05 %48.52 %51.65 %

(1)Other income (non-GAAP) includes the taxable equivalent of net income generated from LIHTC investments.

4

Net Interest Income Analysis

The following tables summarize daily average balances, interest, and average yield/rate by major category, and net interest margin on an FTE basis: Three months ended June 30, 20252024(Dollars in thousands)AverageBalanceInterest Income/ExpenseAverage Yield/RateAverageBalanceInterest Income/ExpenseAverage Yield/RateAssetsInterest-earning assets:Loans and leases (1)$53,277,897 $786,808 5.85 %$51,434,799 $808,309 6.23 %Investment securities: (2)Taxable17,284,395 192,865 4.46 15,443,809 154,691 4.00 Non-taxable941,237 7,166 3.05 1,636,745 10,239 2.56 Total investment securities18,225,632 200,031 4.39 17,080,554 164,930 3.86 FHLB and FRB stock346,514 4,243 4.91 336,342 5,166 6.18 Interest-bearing deposits (3)2,096,578 23,368 4.41 483,947 6,603