Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 101

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 101
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 as available-for-sale for proceeds of $14.9 million. During the six months ended June 30, 2024, the Company sold $1.3 billion of Municipal bonds and notes, Agency MBS, and Corporate debt securities classified as available-for-sale for proceeds of $1.2 billion. The amounts presented in non-interest income include the portion of any losses that were not due to credit related factors.

Other income decreased $10.7 million, or 21.4%, from $49.9 million for the six months ended June 30, 2024, to $39.2 million for the six months ended June 30, 2025, primarily due to the net gain on sale of mortgage servicing rights in the first quarter of 2024, the credit valuation adjustment, and bank-owned life insurance events in the first quarter of 2024, partially offset by higher direct investment gains and medical fees.

9

Non-Interest ExpenseThree months ended June 30,Six months ended June 30,(Dollars in thousands)2025202420252024Compensation and benefits$199,930 $186,850 $398,575 $375,390 Occupancy19,337 15,103 39,054 34,542 Technology and equipment45,932 45,303 93,651 91,139 Intangible assets amortization9,093 8,716 18,330 17,910 Marketing5,171 4,107 9,198 8,388 Professional and outside services18,394 14,066 35,620 27,047 Deposit insurance15,061 15,065 31,406 39,288 Other expense32,796 36,811 63,524 68,240 Total non-interest expense$345,714 $326,021 $689,358 $661,944 

Comparison to Prior Year Quarter 

Total non-interest expense increased $19.7 million, or 6.0%, from $326.0 million for the three months ended June 30, 2024, to $345.7 million for the three months ended June 30, 2025, primarily due to increases in Compensation and benefits, Professional and outside services, and Occupancy, partially offset by a decrease in Other expense.

Compensation and benefits increased $13.0 million, or 7