Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 142

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 142
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 market conditions and the Company’s targeted balance sheet composition strategy, the Company intends to hold its available-for-sale securities with unrealized loss positions through the anticipated recovery period. The issuers of these available-for-sale securities have not, to the Company’s knowledge, established any cause for default. Market prices are expected to approach par as the securities approach maturity.Contractual MaturitiesThe following table summarizes the amortized cost and fair value of available-for-sale securities by contractual maturity:March 31, 2025(In thousands)Amortized CostFair ValueMaturing within 1 year$6,017 $6,006 After 1 year through 5 years225,321 221,780 After 5 through 10 years756,816 706,129 After 10 years8,953,223 8,426,182 Total available-for-sale$9,941,377 $9,360,097 Available-for-sale securities that are not due at a single maturity date have been categorized based on the maturity date of the underlying collateral. Actual principal cash flows may differ from this categorization as borrowers have the right to prepay their obligations with or without prepayment penalties.Sales of Available-for Sale SecuritiesThe following table summarizes information related to sales of available-for-sales securities:Three months ended March 31,(In thousands)20252024Proceeds from sales$14,880 $331,690 Gross realized gains$332 $2,240 Gross realized losses (1)(112)(14,636)(1)For the three months ended March 31, 2024, $2.6 million of the gross losses realized on sale of available-for-sale securities was due to credit related factors and, therefore, was included in the Provision for credit losses on the accompanying Condensed Consolidated Statements of Income. There were no gross losses realized on sale of available-for-sale securities due to credit related factors for the three months ended March 31, 2025. The net amounts presented as a component of non-interest income for the three months ended March 31, 2025 and 2024, include the portion of any gross losses that were not due to credit related factors. 

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Other InformationThe following table summarizes the carrying value of available-for-sale securities pledged for deposits, borrowings, and other purposes:(In thousands)March 31, 2025December 31, 2024Pledged for deposits$1,972,495$1,596