Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 0

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 0
---
ITEM 1. FINANCIAL STATEMENTS

WEBSTER FINANCIAL CORPORATION AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETSMarch 31, 2025December 31, 2024(In thousands, except share and par value data)(Unaudited)Assets:Cash and due from banks$421,124 $388,060 Interest-bearing deposits2,091,152 1,686,374 Investment securities available-for-sale, at fair value (1)9,360,097 9,006,600 Investment securities held-to-maturity, net of allowance for credit losses of $109 and $171 (2)8,297,927 8,444,191 Loans held for sale (3)63,849 27,634 Loans and leases53,056,223 52,505,168 Allowance for credit losses on loans and leases(713,321)(689,566)Loans and leases, net52,342,902 51,815,602 Federal Home Loan Bank and Federal Reserve Bank stock350,702 321,343 Deferred tax assets, net249,395 316,856 Premises and equipment, net422,425 406,963 Goodwill2,868,068 2,868,068 Other intangible assets, net325,064 334,301 Cash surrender value of life insurance policies1,255,074 1,251,622 Accrued interest receivable and other assets2,231,971 2,157,459 Total assets$80,279,750 $79,025,073 Liabilities and stockholders’ equity:Deposits:Non-interest-bearing$10,139,131 $10,316,501 Interest-bearing55,436,098 54,436,579 Total deposits65,575,229 64,753,080 Securities sold under agreements to repurchase and federal funds purchased83,395 344,168 Federal Home Loan Bank advances2,910,011 2,110,108 Long-term debt907,410 909,185 Accrued expenses and other liabilities1,599,551 1,775,318 Total liabilities71,075,596 69,891,859 Stockholders’ equity:Preferred stock, $0.01 par value: Authorized—3,000,000 shares;Series