Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 89

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 89
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,450)(2,869)(30,252)(550,571)Other comprehensive (loss) income before reclassifications(104,628)(7,223)2,397 (109,454)Amounts reclassified from accumulated other comprehensive (loss)101,760 492 1,390 103,642 Other comprehensive (loss) income, net of tax(2,868)(6,731)3,787 (5,812)Balance at December 31, 2024$(520,318)$(9,600)$(26,465)$(556,383)The following table further summarizes the amounts reclassified from accumulated other comprehensive (loss) income:Years ended December 31,Accumulated Other Comprehensive (Loss) Income Components202420232022Associated Line Item in the Consolidated Statements Of Income(In thousands)Investment securities available-for-sale:Net unrealized (losses)$(138,794)$(37,356)$(6,751)(Loss) on sale of investment securities (1)Tax benefit 37,034 10,037 1,791 Income tax expenseNet of tax$(101,760)$(27,319)$(4,960)Derivative financial instruments:Hedge terminations$(34)$(310)$(306)Interest expensePremium amortization(533)(2,349)(3,626)Interest incomeTax benefit75 720 1,066 Income tax expenseNet of tax$(492)$(1,939)$(2,866)Defined benefit pension and other postretirement benefit plans:Actuarial net loss amortization$(1,907)$(2,083)$(2,210)Other expenseOther— (1,869)— Other expenseTax benefit517 1,072 600 Income tax expenseNet of tax$(1,390)$(2,880)$(1,610)(1)Losses realized on sale of investment securities available-for-sale are generally included as a component of non-interest income on the accompanying Consolidated Statements of Income unless any portion or all of the loss is due to credit related factors, in which the amount is then included in the Provision for credit losses. During the years ended December 31, 2024, and 2023, $2.6 million and $3.8 million, respectively, of the total losses realized on sale of investment securities available-for-sale were included in the Provision for credit losses. There were no losses realized