Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 185

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 185
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 PurchasedThe following table summarizes securities sold under agreements to repurchase and federal funds purchased:June 30, 2025December 31, 2024(Dollars in thousands)Total OutstandingRateTotal OutstandingRateSecurities sold under agreements to repurchase (1)$372,806 3.66 %$344,168 2.98 %Securities sold under agreements to repurchase and federal funds purchased (2)$372,806 3.66 %$344,168 2.98 %(1)Securities sold under agreements to repurchase have an original maturity date of one year or less for the periods presented.(2)There were no outstanding federal funds purchased at June 30, 2025, and December 31, 2024.The Company’s repurchase agreement counterparties are limited to primary dealers in government securities and commercial and municipal customers through the Corporate Treasury function. The Company has the right of offset with respect to repurchase agreement assets and liabilities with the same counterparty when master netting agreements are in place. Securities sold under agreements to repurchase are presented as gross transactions at June 30, 2025, and December 31, 2024, since only liabilities are outstanding. Agency MBS securities, which had an aggregate market value of $389.4 million and $358.4 million at June 30, 2025, and December 31, 2024, respectively, are pledged to secure repurchase agreements. These Agency MBS securities are subject to changes in market value and, therefore, the Company may increase or decrease the level of securities pledged as collateral based upon movements in market value.The following tables represent the offsetting of repurchase agreements that are subject to master netting agreements:June 30, 2025Gross Amounts of Recognized LiabilitiesGross Amounts Offset in the Statement of Financial PositionNet Amounts of Liabilities Presented in the Statement of Financial PositionGross Amounts Not Offset in the Statement of Financial Position(In thousands)Financial Instruments (1)Cash Collateral PledgedNet AmountRepurchase agreements$302,306 $— $302,306 $302,306 $— $— December 31, 2024Gross Amounts of Recognized LiabilitiesGross Amounts Offset in the Statement of Financial PositionNet Amounts of Liabilities Presented in the Statement of Financial PositionGross Amounts Not Offset in the Statement of Financial Position(In thousands)Financial Instruments (