Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 51

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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 Statement of Financial PositionGross Amounts Not Offset in the Statement of Financial position(In thousands)Financial InstrumentsCash Collateral PledgedNet AmountAsset derivatives$212,510 $44,248 $168,262 $— $168,060 $202 Liability derivatives54,077 44,248 9,829 — 8,940 889 December 31, 2024Gross Amounts of Recognized Assets/LiabilitiesGross Amounts Offset in the Statement of Financial PositionNet Amounts of Assets/Liabilities Presented in the Statement of Financial PositionGross Amounts Not Offset in the Statement of Financial position(In thousands)Financial InstrumentsCash Collateral PledgedNet AmountAsset derivatives$283,185 $31,881 $251,304 $— $251,212 $92 Liability derivatives32,218 31,881 337 — 80 257 Derivative ActivityThe following table summarizes the income statement effect of derivatives designated in hedge relationships: Recognized InThree months ended March 31,(In thousands)Net Interest Income20252024Fair value hedges:Interest rate derivativesDeposits interest expense$— $(1,320)Hedged itemDeposits interest expense— — Net recognized on fair value hedges (1)$— $1,320 Cash flow hedges:Interest rate derivativesLong-term debt interest expense$— $34 Interest rate derivativesInterest and fees on loans and leases(3,255)(10,764)Net recognized on cash flow hedges$(3,255)$(10,798)(1)The Company de-designated its fair value hedging relationship on $400.0 million of deposits, which pertained to a portion of Ametros’ member deposits, in 2023. The $1.3 million basis adjustment included in the carrying amount of deposits at December 31, 2023, was recognized in interest expense in January 2024 upon the acquisition of Ametros.The following table summarizes the income statement effect of derivatives not designated in hedge relationships:Recognized InThree months ended March 31,(In thousands)Non-interest Income20252024Interest rate derivativesOther income$(2,824)$1,290 Mortgage banking derivativesMortgage banking activities(13)(22)OtherOther income(987)1,277 Total not designated as hedging instruments$(3,824)$2,545 Derivative Exposure