Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 246

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 246
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ed “Loans and Leases” through “Allowance for Credit Losses on Loans and Leases” contained elsewhere in this Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.

38

Non-Interest Income  Years ended December 31,(In thousands)202420232022Deposit service fees$161,144 $169,318 $198,472 Loan and lease related fees76,384 84,861 102,987 Wealth and investment services33,234 28,999 40,277 Cash surrender value of life insurance policies27,712 26,228 29,237 (Loss) on sale of investment securities, net (136,224)(33,620)(6,751)Other income89,649 38,551 76,561 Total non-interest income$251,899 $314,337 $440,783 

Total non-interest income decreased $62.4 million, or 19.9%, from $314.3 million for the year ended December 31, 2023, to $251.9 million for the year ended December 31, 2024, primarily due to Net losses on sale of investment securities and  decreases in Deposit service fees and Loan and lease related fees, partially offset by an increase in Other income.

Deposit service fees decreased $8.2 million, or 4.8%, from $169.3 million for the year ended December 31, 2023, to $161.1 million for the year ended December 31, 2024, primarily due to a decrease in overdraft and account service fees, partially offset by an increase in cash management fees.

Loan and lease related fees decreased $8.5 million, or 10.0%, from $84.9 million for the year ended December 31, 2023, to $76.4 million for the year ended December 31, 2024, primarily due to a decrease in loan servicing fees, partially offset by increases in amendment and letter of credit fees, and lower mortgage servicing rights amortization.

Net losses on sale of investment securities increased $102.6 million, or 305.2%, from $33.6 million for the year ended December 31, 2023, to $136.2 million for the year ended December 31, 2024. During the year ended December 31,