Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 104

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 104
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 months ended June 30, 2024, primarily reflects the recognition of a $10.9 million discrete tax expense in that period, which impacted the effective tax rate by 2.1 percentage points.

On July 4, 2025, the One Big Beautiful Bill Act was signed into law, which includes a broad range of tax reform provisions with varying effective dates. The Company is currently evaluating the changes in tax law to determine the impact on its consolidated financial statements; however, the impact is not expected to be material.

Additional information regarding the Company’s income taxes, including its deferred tax assets, can be found within Note 9: Income Taxes 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.

11

Segment Reporting

The Company’s operations are organized into three reportable segments that represent its differentiated lines of business: Commercial Banking, Healthcare Financial Services, and Consumer Banking. Additional information regarding the Company’s reportable segments and its segment reporting methodology can be found within Note 15: Segment Reporting in the Notes to Condensed Consolidated Financial Statements contained in Part I -  Item 1. Financial Statements of this report, and within Note 21: Segment Reporting 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.

Commercial Banking

Operating Results:Three months ended June 30,Six months ended June 30,(In thousands)2025202420252024Net interest income$318,518 $337,588 $637,641 $679,530 Non-interest income30,628 34,510 59,586 68,790 Non-interest expense108,372 104,588 214,954 210,813 Pre-tax, pre-provision net revenue$240,774 $267,510 $482,273 $537,507 

Comparison to Prior Year Quarter 

Commercial Banking’s PPNR decreased $26.7 million, or 10.0%, for the three months ended June 30, 2025, as compared to the three months ended June 30, 2024 due to decreases in net interest income and non-interest income, and an increase in non-interest expense. The $19.0