Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 73

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 73
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202636,103202731,516202827,780202923,408Thereafter64,338Total operating lease payments216,366Present value adjustment(23,178)Total operating lease liabilities$193,188

107

Note 8: Goodwill and Other Intangible Assets

GoodwillThe following table summarizes changes in the carrying amount of goodwill:At December 31,(In thousands)20242023Balance, beginning of period$2,631,465 $2,514,104 Ametros acquisition (1)236,603 — interLINK acquisition— 143,216 Bend acquisition (2)— (294)Sterling merger (2)— (25,561)Balance, end of period$2,868,068 $2,631,465 (1)Reflects the $228.2 million of goodwill recorded in connection with the Ametros acquisition in January 2024, and $8.4 million of other adjustments. The allocation of the purchase price and goodwill calculation for the Ametros acquisition was final as of December 31, 2024.(2)The 2023 changes reflect adjustments recorded within the one-year measurement period, which were identified as a result of extended information gathering and new information that arose from integration activities. The allocation of the purchase price and goodwill calculations for both the Sterling merger and Bend acquisition were final as of March 31, 2023.Information regarding goodwill by reportable segment can be found within Note 21: Segment Reporting.Other Intangible AssetsThe following table summarizes other intangible assets: At December 31,20242023(In thousands)Gross CarryingAmountAccumulatedAmortizationNet CarryingAmountGross CarryingAmountAccumulatedAmortizationNet CarryingAmountCore deposits (1)$328,837 $76,795 $252,042 $146,037 $53,986 $92,051 Customer relationships (2)122,063 47,186 74,877 151,000 43,116 107,884 Non-competition agreement4,000 1,600 2,400 4,000 800 3,200 Trade name (1)6,100 1,118 4,982 — — — Other intangible assets$461,000 $126,699 $334,301 $301,037 $97,902 $