Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 70

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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 is initially deferred and subsequently amortized into other income ratably over the estimated life expectancy of the member. During the three months ended March 31, 2025, and 2024, $0.5 million and $0.3 million, respectively, of such deferred revenue was recognized in Other income.Contract Balances and Deferred CostsContracts with customers generated accounts receivable, deferred costs, and deferred revenue of $3.0 million, $3.8 million, and $23.3 million, respectively, at March 31, 2025, and $2.7 million, $3.0 million and $22.8 million, respectively at December 31, 2024. All of these balances pertain to contracts with customers from the acquired Ametros business.

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Note 17: Commitments and Contingencies

Credit-Related Financial InstrumentsIn the normal course of business, the Company offers financial instruments with off-balance sheet risk to meet the financing needs of its customers. These transactions include commitments to extend credit, standby letters of credit, and commercial letters of credit, which involve, to varying degrees, elements of credit risk.The following table summarizes the outstanding amounts of credit-related financial instruments with off-balance sheet risk:(In thousands)March 31,2025December 31, 2024Commitments to extend credit$11,951,465 $11,630,765 Standby letters of credit582,193 578,912 Commercial letters of credit38,658 28,287 Total credit-related financial instruments with off-balance sheet risk$12,572,316 $12,237,964 The Company enters into contractual commitments to extend credit to its customers (i.e., revolving credit arrangements, term loan commitments, and short-term borrowing agreements), generally with fixed expiration dates or other termination clauses and that require payment of a fee. Substantially all of the Company’s commitments to extend credit are contingent upon its customers maintaining specific credit standards at the time of loan funding, and are often secured by real estate collateral. Since the majority of the Company’s commitments typically expire without being funded, the total contractual amount does not necessarily represent the Company’s future payment requirements.Standby letters of credit are written conditional commitments issued by the Company to guarantee its customers’ performance to a third party. In the event the customer does not perform in accordance with the terms of its agreement with a third-party, the Company would be required to fund the