Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 201

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 201
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 30, 2025 and zero at December 31, 2024, for liability derivatives. Interest rate swaps that are centrally-cleared through clearing houses are “settled-to-market” and considered a single unit of account. In accordance with their rule books, clearing houses record the variation margin transferred for settled-to-market derivatives as a legal settlement of the derivative contract (i.e., the variation margin legally settles the outstanding exposure, but does not result in any other change or reset of the contractual terms of the derivative). The fair values of the Company’s settled-to-market interest rate swaps are presented net on the accompanying Condensed Consolidated Balance Sheets and approximated zero. (2)Other derivatives not designated in hedge relationships include foreign currency forward contracts related to lending arrangements, a Visa equity swap transaction, and risk participation agreements. Notional amounts of risk participation agreements were $265.4 million at June 30, 2025, and $294.5 million at December 31, 2024, for asset derivatives, and $712.6 million at June 30, 2025, and $796.6 million at December 31, 2024, for liability derivatives, all of which had immaterial related fair values.

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The following tables represent the off-setting derivative financial instruments that are subject to master netting agreements:June 30, 2025Gross Amounts of Recognized Assets/LiabilitiesGross Amounts Offset in the Statement of Financial PositionNet Amounts of Assets/Liabilities Presented in the Statement of Financial PositionGross Amounts Not Offset in the Statement of Financial Position(In thousands)Financial InstrumentsCash Collateral PledgedNet AmountAsset derivatives$174,505 $59,898 $114,607 $— $114,607 $— Liability derivatives76,369 59,898 16,471 — 15,860 611 December 31, 2024Gross Amounts of Recognized Assets/LiabilitiesGross Amounts Offset in the Statement of Financial PositionNet Amounts of Assets/Liabilities Presented in the Statement of Financial PositionGross Amounts Not Offset in the Statement of Financial Position(In thousands)Financial InstrumentsCash Collateral PledgedNet AmountAsset derivatives$283,185 $31,881 $251,304 $— $251,212 $92 Liability derivatives32,218 31,881 337 — 80 257 Derivative