Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 89

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 89
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Additional information regarding the Company’s provision for credit losses on loans and leases and the related ACL can be found under the sections captioned “Loans and Leases” through “Allowance for Credit Losses on Loans and Leases” contained elsewhere in this Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Non-Interest Income Three months ended March 31,(In thousands)20252024Deposit service fees$38,895 $42,589 Loan and lease related fees17,621 19,767 Wealth and investment services7,789 7,924 Cash surrender value of life insurance policies7,992 5,946 Gain (loss) on sale of investment securities, net 220 (9,826)Other income20,089 32,953 Total non-interest income$92,606 $99,353 

Total non-interest income decreased $6.8 million, or 6.8%, from $99.4 million for the three months ended March 31, 2024, to $92.6 million for the three months ended March 31, 2025, primarily due to decreases in Other income and Deposit services fees, partially offset by the change in Net gains (losses) on sale of investment securities.

Deposit service fees decreased $3.7 million, or 8.7%, from $42.6 million for the three months ended March 31, 2024, to $38.9 million for the three months ended March 31, 2025, primarily due to higher revenue share costs and lower customer account service fees, partially offset by higher ATM surcharges.

Net gains (losses) on sale of investment securities changed $10.0 million, or 102.2%, from net (losses) of $9.8 million for the three months ended March 31, 2024, to net gains of $0.2 million for the three months ended March 31, 2025. During the three months ended March 31, 2025, the Company sold $14.7 million of Corporate debt securities classified as available-for-sale for proceeds of $14.9 million. During the three months ended March 31, 2024 the Company sold $344.1 million of Agency MBS, Corporate debt securities, and Municipal bonds and notes classified as available-for-sale for proceeds of $331.