Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 46

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 46
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7,453,123 Held-to-maturity securities that are not due at a single maturity date have been categorized based on the maturity date of the underlying collateral. Actual principal cash flows may differ from this categorization as borrowers have the right to prepay their obligations with or without prepayment penalties.

90

Credit Quality InformationThe Company monitors the credit quality of held-to-maturity securities through credit ratings provided by Standard & Poor’s Rating Services, Moody’s Investor Services, Fitch Ratings, Inc., Kroll Bond Rating Agency, or DBRS Inc. Credit ratings express opinions about the credit quality of a security and are updated at each quarter end. Investment grade securities are rated BBB- or higher by S&P, or Baa3 or higher by Moody’s, and are generally considered by the rating agencies and market participants to be of low credit risk. Conversely, securities rated below investment grade, which are labeled as speculative grade by the rating agencies, are considered to have distinctively higher credit risk than investment grade securities. At December 31, 2024, and 2023, there were no speculative grade held-to-maturity securities. Held-to-maturity securities that are not rated are collateralized with U.S. Treasury obligations.The following tables summarize the amortized cost of held-to-maturity securities based on their lowest publicly available credit rating:At December 31, 2024Investment Grade(In thousands)AaaAa1Aa2Aa3A1A3Not RatedAgency CMOs$— $19,847 $— $— $— $— $— Agency MBS— 3,109,411 — — — — — Agency CMBS— 4,357,505 — — — — — Municipal bonds and notes341,187 158,327 230,986 128,692 13,761 4,165 14,791 CMBS65,690 — — — — — — Total held-to-maturity$406,877 $7,645,090 $230,986 $128,692 $13,761 $4,165 $14,791 At December 31, 2023Investment Grade(In thousands)AaaAa1Aa2Aa3A1A3Not RatedAgency CMOs$— $23,470 $— $