Company: WBS-PG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0000801337-25-000104
Chunk: 9

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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Note 1: Basis of Presentation and Accounting Standards Updates

Basis of PresentationThe unaudited Condensed Consolidated Financial Statements of the Company have been prepared in accordance with GAAP for interim financial information and Article 10 of Regulation S-X. Certain information and footnote disclosures required by GAAP for complete financial statements have been omitted or condensed. Therefore, the Condensed Consolidated Financial Statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. The Company’s financial condition, results of operations, and cash flows, for the three and nine months ended September 30, 2025, as compared to 2024, are not necessarily indicative of the future results that may be attained for the entire year or other interim periods.In the opinion of management, all necessary adjustments have been reflected to present fairly the financial position, results of operations, and cash flows for the reporting periods presented. Intercompany transactions and balances have been eliminated in consolidation. Assets under administration or assets under management that the Company holds or manages in a fiduciary or agency capacity for customers are not included in the Condensed Consolidated Financial Statements.Certain prior period amounts disclosed in Note 9: Accumulated Other Comprehensive (Loss), Net of Tax have been reclassified to conform to the current period presentation. These reclassifications did not have a material impact on the Company’s Condensed Consolidated Financial Statements.Use of EstimatesThe preparation of the Condensed Consolidated Financial Statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.Supplemental Cash Flow InformationThe following table summarizes supplemental disclosures of cash flow information and non-cash investing and financing activities:Nine months ended September 30,(In thousands)20252024Supplemental disclosure of cash flow information:Interest paid$1,156,922 $1,234,838 Income taxes paid74,960 110,302 Non-cash investing and financing activities:Transfer of loans held for investment to foreclosed properties and repossessed assets$6,353 $2,305 Transfer of returned finance lease equipment to assets held for sale1,739 4,942 Transfer of loans held for investment to loans held for sale364,281 652,823 Change