Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 88

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 88
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 the Series G Preferred Stock for the most recent dividend period. The Series G Preferred Stock is perpetual and has no maturity date, and is not subject to any mandatory redemption, sinking fund, or other similar provisions. Except with respect to certain non-payment events and certain changes to the terms of the Series G Preferred Stock, holders have no voting rights, nor preemptive or conversion rights. The Series G Preferred Stock is not convertible or exchangeable for shares of any other class of Webster stock.Preferred Stock RedemptionsThe Company may redeem either the Series F Preferred Stock or the Series G Preferred Stock at its option, in whole or in part, subject to the approval of Federal Reserve Board, on any dividend payment date, or in whole but not in part, upon the occurrence of a regulatory capital treatment event, at a redemption price equal to the liquidation preference plus any declared and unpaid dividends, without accumulation of any undeclared dividends. The Company has no plans to redeem either its Series F Preferred Stock or its Series G Preferred stock, in whole or in part, as of the date of this Annual Report on Form 10-K.

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Note 13: Accumulated Other Comprehensive (Loss), Net of Tax

The following table summarizes the changes in each component of accumulated other comprehensive (loss) income, net of the related tax impact:(In thousands)Investment Securities Available- for-SaleDerivative Financial InstrumentsDefined Benefit Pension and Other Postretirement Benefit PlansTotalBalance at December 31, 2021$4,536 $6,070 $(33,186)$(22,580)Other comprehensive (loss) before reclassifications(640,656)(17,810)(13,350)(671,816)Amounts reclassified from accumulated other comprehensive income (loss)4,960 2,866 1,610 9,436 Other comprehensive (loss), net of tax(635,696)(14,944)(11,740)(662,380)Balance at December 31, 2022(631,160)(8,874)(44,926)(684,960)Other comprehensive income before reclassifications86,391 4,066 11,794 102,251 Amounts reclassified from accumulated other comprehensive (loss)27,319 1,939 2,880 32,138 Other comprehensive income, net of tax113,710 6,005 14,674 134,389 Balance at December 31, 2023(517