Company: WBS-PG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0000801337-25-000104
Chunk: 193

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 193
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3 (4)77,320 77,320 Total senior and subordinated debt1,245,056 899,071 Discount on senior fixed-rate notes(348)(423)Debt issuance cost on senior fixed-rate notes(936)(1,137)Premium on subordinated floating-rate notes and subordinated fixed-to-floating rate notes10,087 11,674 Discount on fixed-rate reset subordinated notes(2,611)— Debt issuance cost on fixed-rate reset subordinated notes(1,636)— Long-term debt (5)$1,249,612 $909,185 (1)The Company de-designated its fair value hedging relationship on these senior fixed-rate notes in 2020. A basis adjustment of $18.7 million and $22.8 million at September 30, 2025, and December 31, 2024, respectively, is included in the carrying value and is being amortized over the remaining life of the senior fixed-rate notes.(2)The interest rate on the 2029 subordinated floating-rate notes varies quarterly based on 3-month term SOFR plus 253 basis points, which yielded 6.51% at September 30, 2025, and 6.84% at December 31, 2024.(3)On September 23, 2025, the Company delivered formal notice of its election to redeem all outstanding 3.875% subordinated fixed-to-floating rate notes due 2030 on November 1, 2025. Additional information regarding this redemption of long-term debt can be found within Note 18: Subsequent Events.(4)The interest rate on the Webster Statutory Trust I floating-rate notes varies quarterly based on 3-month SOFR plus a credit spread adjustment plus a market spread of 2.95%, which yielded 7.23% at September 30, 2025, and 7.56% at December 31, 2024.(5)The classification of debt as long-term is based on the initial term of greater than one year as of the date of issuance.

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2035 Subordinated Notes. On September 11, 2025, the Company issued $350.0 million in aggregate principal amount of 5.784% fixed-rate reset subordinated notes due on September 11, 2035 (the 2035 subordinated notes). The 2035 subordinated notes are not convertible or exchangeable, and