Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 164

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 164
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168 2.98 %(1)Securities sold under agreements to repurchase have an original maturity of one year or less for the periods presented. 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 March 31, 2025, and December 31, 2024, since only liabilities are outstanding. Agency MBS securities, which had an aggregate market value of $85.8 million and $358.4 million at March 31, 2025, and December 31, 2024, respectively, are pledged to secure repurchase agreements. These Agency MBS securities are subject to changes in market value and, therefore, the Company may increase or decrease the level of securities pledged as collateral based upon movements in market value.The following tables represent the offsetting of repurchase agreements that are subject to master netting agreements:March 31, 2025Gross Amounts of Recognized LiabilitiesGross Amounts Offset in the Statement of Financial PositionNet Amounts of Liabilities Presented in the Statement of Financial PositionGross Amounts Not Offset in the Statement of Financial position(In thousands)Financial InstrumentsCash Collateral PledgedNet AmountRepurchase agreements$— $— $— $— $— $— 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 InstrumentsCash Collateral PledgedNet AmountRepurchase agreements$209,961 $— $209,961 $220,588 $— $(10,627)FHLB AdvancesThe following table summarizes information for FHLB advances:March 31, 2025December 31, 2024(Dollars in thousands)Total OutstandingWeighted-Average Contractual Coupon RateTotal OutstandingWeighted-Average Contractual Coupon RateMaturing within 1 year$2,900,000 4.46 %$2,100,000 4.50 %After 1 but within 2 years— — — —