Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 178

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 178
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2025, and $796.6 million at December 31, 2024, for liability derivatives, all of which had insignificant related fair values.

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The following tables represent the off-setting derivative financial instruments that are subject to master netting agreements:March 31, 2025Gross Amounts of Recognized Assets/LiabilitiesGross Amounts Offset in the Statement of Financial PositionNet Amounts of Assets/Liabilities Presented in the Statement of Financial PositionGross Amounts Not Offset in the Statement of Financial position(In thousands)Financial InstrumentsCash Collateral PledgedNet AmountAsset derivatives$212,510 $44,248 $168,262 $— $168,060 $202 Liability derivatives54,077 44,248 9,829 — 8,940 889 December 31, 2024Gross Amounts of Recognized Assets/LiabilitiesGross Amounts Offset in the Statement of Financial PositionNet Amounts of Assets/Liabilities Presented in the Statement of Financial PositionGross Amounts Not Offset in the Statement of Financial position(In thousands)Financial InstrumentsCash Collateral PledgedNet AmountAsset derivatives$283,185 $31,881 $251,304 $— $251,212 $92 Liability derivatives32,218 31,881 337 — 80 257 Derivative ActivityThe following table summarizes the income statement effect of derivatives designated in hedge relationships: Recognized InThree months ended March 31,(In thousands)Net Interest Income20252024Fair value hedges:Interest rate derivativesDeposits interest expense$— $(1,320)Hedged itemDeposits interest expense— — Net recognized on fair value hedges (1)$— $1,320 Cash flow hedges:Interest rate derivativesLong-term debt interest expense$— $34 Interest rate derivativesInterest and fees on loans and leases(3,255)(10,764)Net recognized on cash flow hedges$(3,255)$(10,798)(1)The Company de-designated its fair value hedging relationship on $400.0 million of deposits, which pertained to a portion of Ametros’ member deposits, in 2023. The $1.3 million basis adjustment included in the carrying amount of deposits at December 31, 2023, was recognized in interest expense in January 2024 upon the acquisition of Ametros