Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 131

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 131
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 funds, prepayments and other deposit inflows are influenced by economic conditions and prevailing interest rates, the timing of which are inherently uncertain. Additional sources of funds are provided by both short-term and long-term borrowings, and to a lesser extent, dividends received as part of the Bank’s membership with the FHLB and FRB.

Deposits. The Bank offers a wide variety of checking and savings deposit products designed to meet the transactional and investment needs of its consumer and business customers. The Bank’s deposit services include, but are not limited to, ATM and debit card use, direct deposit, ACH payments, mobile banking, internet-based banking, banking by mail, account transfers, and overdraft protection, among others. The Bank manages the flow of funds in its deposit accounts and interest rates consistent with FDIC regulations. The Bank’s Consumer and Digital Pricing Committee and its Commercial and Institutional Liability and Loan Pricing Committee both meet regularly to determine pricing and marketing initiatives. In addition, the Bank may use brokered certificates of deposit as a funding source, which are managed based on established limits set by the ALCO.

Total deposits were $66.3 billion and $64.8 billion at June 30, 2025, and December 31, 2024, respectively. The $1.5 billion net increase in total deposits was primarily due to an increase in money markets, particularly from interSYNC, which contributed to $1.4 billion of the change. The Company also experienced increases across all other deposit categories except for brokered certificates of deposit, which decreased primarily due to a change in short-term funding mix.

The following table summarizes daily average balances of deposits by type and the weighted-average rates paid thereon:Three months ended June 30,20252024(Dollars in thousands)AverageBalanceAverage RateAverageBalanceAverage RateNon-interest-bearing:Demand$10,109,928 — %$10,156,691 — %Interest-bearing:Checking9,772,340 1.74 9,424,687 1.90 Health savings accounts9,137,704 0.16 8,528,476 0.15 Money market21,645,531 3.54 18,658,148 4.16 Savings7,462,151 1.70 6,929,874 1.53 Certificates of deposit6,061,399 3.43 5,908,811