Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 14

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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 joint venture’s operations. Accordingly, the $242.2 million of commercial non-mortgage loans identified, in aggregate, were reclassified and transferred from Loans and leases to Loans held for sale on the accompanying Condensed Consolidated Balance Sheets. The $1.3 million difference between the lower of the amortized cost basis of the loans and their fair value at the time of transfer was charged-off and recognized in the Provision for credit losses on the accompanying Condensed Consolidated Statements of Income. The seed portfolio loans are included in Commercial Banking for segment reporting purposes.

In July 2025, the Company sold a portion of the seed portfolio loans. The transfer met the requisite criteria to be accounted for as a sale in accordance with ASC 860, Transfers and Servicing. In connection with the sale, the Company derecognized $33.3 million from Loans held for sale and recognized an immaterial gain. The remainder of the seed portfolio loans are expected to be sold later in the third quarter of 2025.

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Note 3: Investment Securities

Available-for-SaleThe following tables summarize the amortized cost and fair value of available-for-sale securities by major type: June 30, 2025(In thousands)AmortizedCost (1)UnrealizedGainsUnrealizedLossesAllowance for Credit LossesFair ValueGovernment agency debentures$222,808 $— $(30,372)$— $192,436 Municipal bonds and notes117,562 — (13,754)— 103,808 Agency CMO29,439 — (2,326)— 27,113 Agency MBS4,980,846 36,060 (185,301)— 4,831,605 Agency CMBS3,558,974 5,201 (339,977)— 3,224,198 CMBS791,930 1,054 (2,852)— 790,132 Corporate debt435,483 264 (31,507)(867)403,373 Private label MBS42,571 — (4,207)— 38,364 Other9,868 — (543)— 9,325 Total available-for-sale$10,189,481 $42,579 $(610,839)$(867)$9,620,354 December 31, 2024(In thousands)AmortizedCost