Company: WBS-PG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0000801337-25-000104
Chunk: 138

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 138
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 as a source of funding, but also for interest rate risk management purposes. FHLB advances totaled $2.6 billion and $2.1 billion at September 30, 2025, and December 31, 2024, respectively. The $0.5 billion increase is primarily due to a change in short-term funding mix.

Long-term debt consists of senior notes maturing in 2029, subordinated notes maturing in 2029, 2030, and 2035, and junior subordinated notes maturing in 2033. Long-term debt totaled $1.2 billion and $0.9 billion at September 30, 2025 and December 31, 2024, respectively. The $0.3 billion increase is primarily due to the issuance of 5.784% fixed-rate reset subordinated notes due 2035 on September 11, 2025.

The Bank had additional borrowing capacity from the FHLB of $8.3 billion and $8.7 billion at September 30, 2025, and December 31, 2024, respectively. The Bank also had additional borrowing capacity from the FRB of $16.7 billion and $13.3 billion at September 30, 2025, and December 31, 2024, respectively. Unencumbered investment securities of $0.6 billion at September 30, 2025 could have been used for collateral on borrowings or to increase borrowing capacity by either $0.4 billion with the FHLB or $0.6 billion with the FRB.

27

The following table summarizes daily average balances of borrowings by type and the weighted-average rates paid thereon:Three months ended September 30,20252024(Dollars in thousands)AverageBalanceAverage RateAverageBalanceAverage RateSecurities sold under agreements to repurchase$139,567 1.77 %$125,738 0.12 %FHLB advances2,602,949 4.45 2,535,497 5.43 Long-term debt (1)960,497 4.53 887,090 3.56 Total average borrowings$3,703,013 4.37 %$3,548,325 4.77 %Nine months ended September 30,