Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 92

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 92
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 non-interest income, and an increase in non-interest expense. The $22.8 million decrease in net interest income is primarily due to lower loan yields, partially offset by loan growth and lower deposit costs. The $5.3 million decrease in non-interest income is primarily due to lower direct investment gains, interest rate hedging activities, cash management fees, and factoring income. The $0.4 million increase in non-interest expense is primarily due to increased investments in human capital, operational process improvements, and technology to support growth of the Commercial Banking segment.

Selected Balance Sheet and Off-Balance Sheet Information:(In thousands)March 31,2025December 31,2024Loans and leases$40,790,670 $40,616,156 Deposits16,572,502 16,251,850 Assets under administration / management (off-balance sheet)2,957,462 2,965,624 

Loans and leases increased $0.2 billion, or 0.4%, at March 31, 2025, as compared to December 31, 2024, primarily due to growth in commercial non-mortgage loans, partially offset by net principal paydowns in commercial real estate and equipment financing loans. Total portfolio originations for the three months ended March 31, 2025, and 2024, were $2.1 billion and $2.2 billion, respectively. The $0.1 billion decrease was primarily due to decreased commercial real estate originations, partially offset by increased commercial non-mortgage and equipment financing originations.

Deposits increased $0.3 billion, or 2.0%, at March 31, 2025, as compared to December 31, 2024, primarily due to higher savings and money market accounts balances resulting from seasonal net inflows, partially offset by decreases in checking and non-interest bearing demand deposits.

Assets under administration and assets under management, in aggregate, remained relatively flat at approximately $3.0 billion at both March 31, 2025 and December 31, 2024, as the impact due to lower valuations in the equity markets was offset by net investment fund inflows.

9

Healthcare Financial Services

Operating Results:Three months ended March 31,(In thousands)20252024Net interest income$96,361 $86,138 Non-interest income29,390 31,061 Non-interest expense55,720 52