Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 212

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 212
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 debt are classified within Level 2 of the fair value hierarchy.The following table summarizes the carrying amounts, estimated fair values, and classifications within the fair value hierarchy of selected financial instruments: June 30, 2025December 31, 2024(In thousands)CarryingAmountFairValueCarryingAmountFairValueAssets:Level 1Cash and cash equivalents$2,993,919 $2,993,919 $2,074,434 $2,074,434 Level 2Held-to-maturity investment securities, net8,192,720 7,291,244 8,444,191 7,453,123 Level 3Loans and leases, net52,949,913 51,416,732 51,815,602 50,245,305 Liabilities:Level 2Deposit liabilities$58,394,540 $58,394,540 $56,518,126 $56,518,126 Time deposits7,919,885 7,895,161 8,234,954 8,211,582 Securities sold under agreements to repurchase and federal funds purchased372,806 372,858 344,168 344,166 FHLB advances3,339,914 3,337,057 2,110,108 2,107,790 Long-term debt (1)905,634 909,945 909,185 860,200 (1)Any unamortized premiums/discounts, debt issuance costs, or basis adjustments to long-term debt, as applicable, are excluded from the determination of fair value.

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Note 15: Segment Reporting

The Company’s operations are organized into three reportable segments that represent its differentiated lines of business: Commercial Banking, Healthcare Financial Services, and Consumer Banking. The Company’s CODM is the Chairman and Chief Executive Officer. The CODM uses income before income taxes and the provision for credit losses, referred to as PPNR, to allocate resources, including financial and capital resources, employees, and property, for each segment predominantly in the annual budget and forecasting process. The CODM considers budget-to-actual variances on a monthly basis when making decisions about allocating resources to the segments. The CODM also uses PPNR to assess the performance of each segment and in the compensation of certain employees.Commercial Banking delivers financial solutions both nationally and regionally to a wide range of companies, investors