Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 259

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 259
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 to purchases exceeding paydown activities, particularly across the Agency MBS and Agency CMBS categories. The average FTE yield on the held-to-maturity portfolio was 3.75% for the year ended December 31, 2024, as compared to 2.99% for the year ended December 31, 2023. The 76 basis point increase is primarily due to higher interest rates on recent securities purchases, as compared to interest rates on securities with paydown activities. 

At December 31, 2024, and 2023, gross unrealized losses on held-to-maturity securities were $1.0 billion and $0.8 billion, respectively. The $0.2 billion increase is primarily due to increases in market rates. Held-to-maturity securities are evaluated for credit losses on a quarterly basis under the CECL methodology. At both December 31, 2024, and 2023, the ACL on held-to-maturity securities was $0.2 million.

The following table summarizes the maturity distribution of investment securities by the earlier of either contractual maturity or call date, as applicable, along with their respective weighted-average yields:At December 31, 20241 Year or Less1 - 5 Years5 - 10 YearsAfter 10 YearsTotal(In thousands)AmountWeighted-AverageYield (1)AmountWeighted-AverageYield (1)AmountWeighted-AverageYield (1)AmountWeighted-AverageYield (1)AmountWeighted-AverageYield (1)Available-for-sale:Government agency debentures$— — %$— — %$32,576 2.42 %$153,851 3.43 %$186,427 3.25 %Municipal bonds and notes6,234 2.91 856 4.32 27,521 2.24 76,265 2.17 110,876 2.25 Agency CMO88 2.98 — — 1,904 3.47 27,051 2.87 29,043 2.91 Agency MBS— — 3,926 1.28 880 3.86 4,514,979 4.70 4,519,785 4.70 Agency CMBS— — 102,852 4.72