Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 241

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 241
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 $0.9 billion for the year ended December 31, 2024, primarily due the maturity of its 4.375% senior notes in February 2024. At December 31, 2024, and 2023, average long-term debt comprised 1.4% and 1.6% of average total interest-bearing liabilities, respectively. The average rate on average long-term debt decreased 12 basis points from 3.69% for the year ended December 31, 2023, to 3.57% for the year ended December 31, 2024, also primarily due to the maturity of its 4.375% senior notes in February 2024.

Average federal funds purchased decreased $113.2 million, or 67.6%, from $167.5 million for the year ended December 31, 2023, to $54.3 million for the year ended December 31, 2024, primarily due to the paydown of overnight funding and change in short-term borrowings mix. At December 31, 2024, and 2023, average federal funds purchased comprised 0.1% and 0.3% of average total interest-bearing liabilities, respectively. The average rate on average federal funds purchased increased 85 basis points from 4.70% for the year ended December 31, 2023, to 5.55% for the year ended December 31, 2024, primarily due to increases in market rates.

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The following table summarizes daily average balances, interest, and average yield/rate by major category, and net interest margin on an FTE basis: Years ended December 31, 202420232022(In thousands)AverageBalanceInterest Income/ExpenseAverageYield/RateAverageBalanceInterest Income/ExpenseAverageYield/RateAverageBalanceInterest Income/ExpenseAverageYield/RateAssets:Interest-earning assets:Loans and leases (1)$51,597,443 $3,224,653 6.25 %$50,637,569 $3,113,709 6.15 %$43,751,112 $1,967,761 4.50 %Investment securities: (2)Taxable15,823,052 651,507 4.12 13,057,669 423,289 3.22 12,424,967 295,158