Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 134

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 134
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 477 Other liabilities5,876 8,123 Total liabilities930,681 1,070,113 Stockholders’ equity9,133,214 8,689,996 Total liabilities and stockholders’ equity$10,063,895 $9,760,109 CONDENSED STATEMENTS OF INCOME        Years ended December 31,(In thousands)202420232022Income:Dividend income from bank subsidiary$600,000 $600,000 $475,000 Interest income on securities and interest-bearing deposits11,606 11,259 5,955 Alternative investments income7,580 1,272 6,416 Other non-interest income198 908 112 Total income619,384 613,439 487,483 Expense:Interest expense on borrowings32,253 37,933 34,284 Merger-related expenses— 2,111 40,314 Other non-interest expense24,988 31,600 22,592 Total expense57,241 71,644 97,190 Income before income taxes and equity in undistributed earnings of subsidiaries562,143 541,795 390,293 Income tax benefit10,021 15,106 20,799 Equity in undistributed earnings of subsidiaries196,543 310,939 233,191 Net income$768,707 $867,840 $644,283 CONDENSED STATEMENTS OF COMPREHENSIVE INCOME        Years ended December 31,(In thousands)202420232022Net income$768,707 $867,840 $644,283 Other comprehensive (loss) income, net of tax:Derivative instruments25 229 226 Other comprehensive (loss) income of subsidiaries(5,837)134,160 (662,606)Other comprehensive (loss) income, net of tax(5,812)134,389 (662,380)Comprehensive income (loss)$762,895 $1,002,229 $(18,097)

148

CONDENSED STATEMENTS OF CASH FLOWS       Years ended December 31,(In thousands)202420232022Operating activities:Net income$768,707 $867,840 $644,283 Adjustments to reconcile net income to net cash provided by operating activities:Equity in undistributed earnings of subsidiaries(196