Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 86

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 86
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$361,295 2.15 %64,479,324 $384,111 2.39 %Non-interest-bearing liabilities (2)1,809,884 2,093,449 Total liabilities70,019,939 66,572,773 Preferred stock283,979 283,979 Common stockholders’ equity8,961,051 8,476,013 Total stockholders’ equity9,245,030 8,759,992 Total liabilities and stockholders’ equity$79,264,969 $75,332,765 Net interest income (FTE)$625,803 $583,618 Less: FTE adjustment (4)(13,611)(15,879)Net interest income$612,192 $567,739 Net interest margin (FTE) (5)3.48 %3.41 %

(1)Non-accrual loans have been included in the computation of average balances.

(2)In order to provide the users of the Company’s financial statements with a more transparent view of the actual consolidated average balances that are used in the calculation of net interest margin, the Company has recast, in the above table, certain consolidated average balances for the three months ended March 31, 2024, to reflect a change in presentation being applied retrospectively. Specifically, adjustments were made to exclude average unsettled trades of $108.8 million and average available-for-sale unrealized losses of $737.7 million, from investment securities, and to exclude an average basis adjustment of $27.4 million from long-term debt related to a de-designated fair value hedge. Rather, effective as of December 31, 2024, these amounts are being presented in average non-interest-earning assets and average non-interest-bearing liabilities, respectively. There was no change to the related yields/rates or net interest income that had been previously disclosed.

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(3)Interest-bearing deposits are a component of Cash and cash equivalents on the Condensed Consolidated Statements of Cash Flows included in Part I - Item 1. Financial Statements.

(4)FTE adjustments on loans and leases and investment securities are determined assuming a statutory federal income tax rate of 21%. Items computed on an FTE basis are considered non-GAAP financial measures, and are used by management to evaluate the comparability of the Company’s revenue arising from both taxable and non-taxable sources.

(5)