Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 6

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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ASH FLOWS (Unaudited), continued Three months ended March 31,(In thousands)20252024Financing Activities:Net increase (decrease) in deposits817,663 (26,850)Net increase in Federal Home Loan Bank advances799,903 1,299,912 Net (decrease) in securities sold under agreements to repurchase and federal funds purchased(260,773)(96,501)Repayment of long-term debt— (132,550)Payment of contingent consideration— (4,050)Dividends paid to common stockholders(68,545)(68,599)Dividends paid to preferred stockholders(4,163)(4,163)Common stock repurchase program(180,987)(20,403)Common shares acquired related to stock compensation plan activity(21,782)(13,496)Net cash provided by financing activities1,081,316 933,300 Net increase (decrease) in cash and cash equivalents437,842 (170,567)Cash and cash equivalents, beginning of period2,074,434 1,715,795 Cash and cash equivalents, end of period$2,512,276 $1,545,228 

See accompanying Notes to Condensed Consolidated Financial Statements.

33

WEBSTER FINANCIAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Note 1: Basis of Presentation and Accounting Standards Updates

Basis of PresentationThe unaudited Condensed Consolidated Financial Statements of the Company have been prepared in accordance with GAAP for interim financial information and Article 10 of Regulation S-X. Certain information and footnote disclosures required by GAAP for complete financial statements have been omitted or condensed. Therefore, the Condensed Consolidated Financial Statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. The Company’s financial condition, results of operations, and cash flows, for the three months ended March 31, 2025, as compared to 2024, are not necessarily indicative of the future results that may be attained for the entire year or other interim periods.In the opinion of management, all necessary adjustments have been reflected to present fairly the financial position, results of operations, and cash flows for the reporting periods presented. Intercompany transactions and balances have been eliminated in consolidation. Assets under administration or assets under management that the