Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 232

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 232
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Table of Contents

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis provides information that management believes is necessary to understand the Company’s consolidated financial condition, results of operations, and cash flows for the year ended December 31, 2024, as compared to 2023. This information should be read in conjunction with the Company’s Consolidated Financial Statements, and the accompanying Notes thereto, contained in Part II - Item 8. Financial Statements and Supplementary Data, as well as other information set forth throughout this report. For discussion and analysis of the Company’s 2023 results, as compared to 2022, refer to Part II - Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the SEC on February 27, 2024. The Company’s consolidated financial condition and operating results for the year ended December 31, 2024, are not necessarily indicative of the consolidated financial condition or operating results that may be attained in future periods.

Results of Operations

The following table summarizes selected financial highlights and key performance indicators:At or for the years ended December 31,(In thousands, except per share data)202420232022Income and performance ratios:Net income$768,707 $867,840 $644,283 Net income available to common stockholders752,057 851,190 628,364 Earnings per diluted common share4.37 4.91 3.72 Return on average assets1.00 %1.18 %0.99 %Return on average tangible common stockholders’ equity (non-GAAP)14.35 16.95 13.34 Return on average common stockholders’ equity8.71 10.59 8.44 Non-interest income as a percentage of total revenue9.72 11.85 17.81 Asset quality:ACL on loans and leases$689,566 $635,737 $594,741 Non-performing assets (1)461,751 218,600 206,136 ACL on loans and leases / total loans and leases1.31 %1.25 %1.20 %Net charge-offs / average loans and leases0.32 0.21 0.15