Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 94

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 94
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Common stockholders’ equity8,985,554 8,462,886 Total stockholders’ equity9,269,533 8,746,865 Total liabilities and stockholders’ equity$79,895,926 $75,634,549 Net interest income (FTE)$1,260,855 $1,170,230 Less: FTE adjustment (4)(27,481)(30,194)Net interest income$1,233,374 $1,140,036 Net interest margin (FTE) (5)3.46 %3.40 %

(1)Non-accrual loans have been included in the computation of average balances.

(2)In order to provide the users of the Company’s financial statements with a more transparent view of the actual consolidated average balances that are used in the calculation of net interest margin, the Company has recast, in the tables above, certain consolidated average balances for the three and six months ended June 30, 2024, to reflect a change in presentation being applied retrospectively. Specifically, adjustments were made to exclude average unsettled trades of $130.2 million and $119.5 million, respectively, and average available-for-sale unrealized losses of $828.6 million and $783.1 million, respectively, from investment securities, and to exclude an average basis adjustment of $26.1 million and $26.7 million, respectively, from long-term debt related to a de-designated fair value hedge. Rather, effective as of December 31, 2024, these amounts are being presented in average non-interest-earning assets and average non-interest-bearing liabilities, respectively. There were no changes to the related yields/rates or net interest income that had been previously disclosed. 

(3)Interest-bearing deposits are a component of Cash and cash equivalents on the Condensed Consolidated Statements of Cash Flows included in Part I - Item 1. Financial Statements.

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(4)FTE adjustments on loans and leases and investment securities are determined assuming a statutory federal income tax rate of 21%. Items computed on an FTE basis are considered non-GAAP financial measures, and are used by management to evaluate the comparability of the Company’s revenue arising from both taxable and non-taxable sources.

(5)Effective as of the first quarter of 2025, the Company changed its methodology used to annualize net interest income in its quarterly and year to