Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 188

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 188
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 Home Loan Bank Advances and Long-Term Debt. The fair value of FHLB advances and long-term debt is estimated using a discounted cash flow methodology in which discount rates are matched with the time period of the expected cash flows and adjusted for associated credit risks, as appropriate. FHLB advances and long-term debt are classified within Level 2 of the fair value hierarchy.The following table summarizes the carrying amounts, estimated fair values, and classifications within the fair value hierarchy of selected financial instruments: March 31, 2025December 31, 2024(In thousands)CarryingAmountFairValueCarryingAmountFairValueAssets:Level 1Cash and cash equivalents$2,512,276 $2,512,276 $2,074,434 $2,074,434 Level 2Held-to-maturity investment securities, net8,297,927 7,404,724 8,444,191 7,453,123 Level 3Loans and leases, net52,342,902 50,536,923 51,815,602 50,245,305 Liabilities:Level 2Deposit liabilities$58,052,837 $58,052,837 $56,518,126 $56,518,126 Time deposits7,522,392 7,495,259 8,234,954 8,211,582 Securities sold under agreements to repurchase and federal funds purchased83,395 83,385 344,168 344,166 FHLB advances2,910,011 2,907,940 2,110,108 2,107,790 Long-term debt (1)907,410 906,286 909,185 860,200 (1)Any unamortized premiums/discounts, debt issuance costs, or basis adjustments to long-term debt, as applicable, are excluded from the determination of fair value.

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Note 15: Segment Reporting

The Company’s operations are organized into three reportable segments that represent its differentiated lines of business: Commercial Banking, Healthcare Financial Services, and Consumer Banking. The Company’s CODM is the Chairman and Chief Executive Officer. The CODM uses income before income taxes and the provision for credit losses, referred to as PPNR, to allocate resources, including financial and capital resources, employees, and property, for each segment predominantly in the annual budget and forecasting process. The CODM