Company: WBS-PG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0000801337-25-000104
Chunk: 45

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 secure FHLB advances, which includes certain residential, multi-family, and commercial real estate loans, home equity lines of credit, Agency MBS, and Agency CMO. The Bank was in compliance with its FHLB collateral requirements at September 30, 2025, and December 31, 2024.Long-term DebtThe following table summarizes long-term debt: (Dollars in thousands)September 30,2025December 31,20244.100%Senior fixed-rate notes due March 25, 2029 (1)$318,736 $322,751 Subordinated floating-rate notes due December 30, 2029 (2)274,000 274,000 3.875%Subordinated fixed-to-floating rate notes due November 1, 2030 (3)225,000 225,000 5.784%Fixed-rate reset subordinated notes due September 11, 2035350,000 — Junior subordinated debt Webster Statutory Trust I floating-rate notes due September 17, 2033 (4)77,320 77,320 Total senior and subordinated debt1,245,056 899,071 Discount on senior fixed-rate notes(348)(423)Debt issuance cost on senior fixed-rate notes(936)(1,137)Premium on subordinated floating-rate notes and subordinated fixed-to-floating rate notes10,087 11,674 Discount on fixed-rate reset subordinated notes(2,611)— Debt issuance cost on fixed-rate reset subordinated notes(1,636)— Long-term debt (5)$1,249,612 $909,185 (1)The Company de-designated its fair value hedging relationship on these senior fixed-rate notes in 2020. A basis adjustment of $18.7 million and $22.8 million at September 30, 2025, and December 31, 2024, respectively, is included in the carrying value and is being amortized over the remaining life of the senior fixed-rate notes.(2)The interest rate on the 2029 subordinated floating-rate notes varies quarterly based on 3-month term SOFR plus 253 basis points, which yielded 6.51% at September 30, 2025, and 6.84% at December 31, 2024.(3)On September 23, 2025, the Company delivered formal notice of its election to redeem all