Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 187

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 187
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 thousands)June 30,2025December 31,20244.100%Senior fixed-rate notes due March 25, 2029 (1)$320,074 $322,751 Subordinated floating-rate notes due December 30, 2029 (2)274,000 274,000 3.875%Subordinated fixed-to-floating rate notes due November 1, 2030225,000 225,000 Junior subordinated debt Webster Statutory Trust I floating-rate notes due September 17, 2033 (3)77,320 77,320 Total senior and subordinated debt896,394 899,071 Discount on senior fixed-rate notes(373)(423)Debt issuance cost on senior fixed-rate notes(1,003)(1,137)Premium on subordinated fixed-to-floating rate notes10,616 11,674 Long-term debt (4)$905,634 $909,185 (1)The Company de-designated its fair value hedging relationship on these senior fixed-rate notes in 2020. A basis adjustment of $20.1 million and $22.8 million at June 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 6.82% at June 30, 2025, and 6.84% at December 31, 2024.(3)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 7.52% at June 30, 2025, and 7.56% at December 31, 2024.(4)The classification of debt as long-term is based on the initial term of greater than one year as of the date of issuance.Additional information regarding the Company’s long-term debt can be found within Note 11: Borrowings in the Notes to Consolidated Financial Statements contained in Part II - Item 8. Financial Statements and Supplementary Data of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

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Note 8: Stock