Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 100

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 100
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2024, to $19.1 million for the three months ended June 30, 2025, primarily due to higher direct investment gains and medical fees, partially offset by the credit valuation adjustment.

Comparison to Prior Year to Date

Total non-interest income increased $45.6 million, or 32.2%, from $141.7 million for the six months ended June 30, 2024, to $187.3 million for the six months ended June 30, 2025, primarily due to the change in Net gains (losses) on sale of investment securities and an increase in the Cash surrender value of life insurance policies, partially offset by decreases in Other income, Loan and lease related fees, and Deposit service fees.

Deposit service fees decreased $3.8 million, or 4.5%, from $83.6 million for the six months ended June 30, 2024, to $79.8 million for the six months ended June 30, 2025, primarily due to higher revenue share costs and lower cash management fees, partially offset by higher interchange income and ATM surcharges.

Loan and lease related fees decreased $3.8 million, or 9.8%, from $39.1 million for the six months ended June 30, 2024, to $35.3 million for the six months ended June 30, 2025, primarily due to lower loan servicing and syndication fees, partially offset by lower mortgage servicing rights amortization.

The Cash surrender value of life insurance policies increased $4.9 million, or 39.5%, from $12.3 million for the six months ended June 30, 2024, to $17.2 million for the six months ended June 30, 2025, primarily due to bank-owned life insurance events in the first quarter of 2024, which resulted in a lower cash surrender value in the prior year to date.

Net gains (losses) on sale of investment securities changed $60.0 million, or 100.4%, from net (losses) of $59.7 million for the six months ended June 30, 2024, to net gains of $0.2 million for the six months ended June 30, 2025. During the six months ended June 30, 2025, the Company sold $14.7 million of Corporate debt securities classified