Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 95

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 95
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 at December 31, 2024, to $80.3 billion at March 31, 2025. The change in total assets was primarily attributed to the following items, which experienced changes greater than $100 million:

•Cash and cash equivalents increased $0.4 billion, primarily due to an increase in interest-bearing deposits held at the FRB as a result of management’s strategic decision to hold higher levels of on-balance sheet liquidity;

•Total investment securities, net increased $0.2 billion, reflecting a $0.3 billion increase in the available-for-sale portfolio, partially offset by a $0.1 billion decrease in the held-to-maturity portfolio. The net increase in total investment securities was primarily due to purchases exceeding paydown activities, particularly across the Agency MBS, Agency CMBS, and CMBS categories;

•Loans and leases increased $0.6 billion, primarily due to $2.7 billion of originations during the three months ended March 31, 2025, particularly across the commercial non-mortgage, commercial real estate, and residential mortgages, partially offset by net principal paydowns;

Total liabilities increased $1.2 billion, or 1.7%, from $69.9 billion at December 31, 2024, to $71.1 billion at March 31, 2025. The change in total liabilities was primarily attributed to the following items:

•Total deposits increased $0.8 billion, primarily reflecting a $1.0 billion increase in interest-bearing deposits, partially offset by a $0.2 billion decrease in non-interest-bearing deposits. The net increase in total deposits was primarily due to an increase in money market deposits, particularly from interLINK, and growth in savings and health savings accounts, partially offset by decreases in brokered certificates of deposit and non-interest-bearing demand.

•Securities sold under agreements to repurchase decreased $0.3 billion, primarily due to a change in short-term funding mix;

•FHLB advances increased $0.8 billion, also primarily due to a change in short-term funding mix;

•Accrued expenses and other liabilities decreased $0.2 billion. Notable drivers of the change included decreases in accrued compensation due to bonus payouts in March 2025, treasury derivative liabilities, and accrued interest payable, partially offset by an increase in unfunded commitments for LIHT