Company: WBS-PG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0000801337-25-000104
Chunk: 191

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 191
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 2.98 %(1)Securities sold under agreements to repurchase have an original maturity date of one year or less for the periods presented.(2)There were no outstanding federal funds purchased at September 30, 2025, and December 31, 2024.The Company’s repurchase agreement counterparties are limited to primary dealers in government securities and commercial and municipal customers through the Corporate Treasury function. The Company has the right of offset with respect to repurchase agreement assets and liabilities with the same counterparty when master netting agreements are in place. Securities sold under agreements to repurchase are presented as gross transactions at September 30, 2025, and December 31, 2024, since only liabilities are outstanding. Agency MBS securities, which had an aggregate market value of $103.0 million and $358.4 million at September 30, 2025, and December 31, 2024, respectively, are pledged to secure repurchase agreements. These Agency MBS securities are subject to changes in market value and, therefore, the Company may increase or decrease the level of securities pledged as collateral based upon movements in market value.The following tables represent the offsetting of repurchase agreements that are subject to master netting agreements:September 30, 2025Gross Amounts of Recognized LiabilitiesGross Amounts Offset in the Statement of Financial PositionNet Amounts of Liabilities Presented in the Statement of Financial PositionGross Amounts Not Offset in the Statement of Financial Position(In thousands)Financial InstrumentsCash Collateral PledgedNet AmountRepurchase agreements$— $— $— $— $— $— December 31, 2024Gross Amounts of Recognized LiabilitiesGross Amounts Offset in the Statement of Financial PositionNet Amounts of Liabilities Presented in the Statement of Financial PositionGross Amounts Not Offset in the Statement of Financial Position(In thousands)Financial Instruments (1)Cash Collateral PledgedNet AmountRepurchase agreements$209,961 $— $209,961 $209,961 $— $— (1)Amounts disclosed are limited to the balance of securities sold under agreements to repurchase reported on the accompanying Condensed Consolidated Balance Sheets that are subject to master netting agreements and, accordingly, exclude excess collateral pledged. At December 31, 2024, Agency MBS with a carrying amount of $220.6 million was pledged as collateral against such