Company: WBS-PG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0000801337-25-000104
Chunk: 154

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 154
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 — (206,621)Series F preferred stock dividends—$984.38 per share— — — (5,906)— — (5,906)Series G preferred stock dividends—$48.75 per share— — — (6,581)— — (6,581)Stock-based compensation— — (13,603)— 55,156 — 41,553 Common shares acquired from stock compensation plan activity— — — — (16,869)— (16,869)Common stock repurchase program— — — — (65,791)— (65,791)Balance at September 30, 2024$283,979 $1,828 $6,166,150 $3,654,363 $(535,027)$(373,243)$9,198,050 

See accompanying Notes to Condensed Consolidated Financial Statements.

36

WEBSTER FINANCIAL CORPORATION AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

 Nine months ended September 30,(In thousands)20252024Operating Activities:Net income$746,982 $590,941 Adjustments to reconcile net income to net cash provided by operating activities:Provision for credit losses168,000 158,500 Deferred income tax expense (benefit)31,347 (5,495)Stock-based compensation41,879 41,553 Depreciation and amortization of property and equipment and intangible assets54,693 52,628 Net (accretion) and amortization of interest-earning assets and borrowings(122,842)(59,789)Amortization of low-income housing tax credit investments89,834 63,844 Reduction of ROU lease assets22,943 23,910 Net (gain) loss on sale of investment securities(220)79,338 Originations of loans held for sale(6,762)(5,236)Proceeds from sale of loans held for sale7,031 6,660 Net loss on sale of factored receivables portfolio— 15,977 Net (gain) on sale of mortgage servicing rights— (11,655)(Increase) in cash surrender value of life insurance policies(24,699)(20,325)(Gain) from life insurance policies(