Company: WBS-PG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0000801337-25-000104
Chunk: 137

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 137
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 upon consolidation, and collateralized deposits are secured by other means. As of the date of this Quarterly Report on Form 10-Q, the Company’s uninsured deposits as a percentage of total deposits, adjusted for affiliate deposits and collateralized deposits, is consistent with the percentage reported at September 30, 2025.

The following table summarizes the portion of U.S. time deposits in excess of the FDIC insurance limit and time deposits otherwise uninsured by contractual maturity:(In thousands)September 30, 2025Portion of U.S. time deposits in excess of insurance limit$597,825Time deposits otherwise uninsured with a maturity of:3 months or less$286,371Over 3 months through 6 months218,236Over 6 months through 12 months92,014Over 12 months1,204

Additional information regarding period-end deposit balances and rates can be found within Note 6: Deposits in the Notes to Condensed Consolidated Financial Statements contained in Part I - Item 1. Financial Statements.

Borrowings. The Bank’s primary borrowing sources include securities sold under agreements to repurchase, federal funds purchased, FHLB advances, and long-term debt. Total borrowings were $3.9 billion and $3.4 billion at September 30, 2025, and December 31, 2024, respectively, and represented 4.7% and 4.3% of total assets, respectively. The $0.5 billion net increase is primarily due to increases of $0.4 billion in FHLB advances and $0.3 billion in long-term debt, partially offset by a decrease of $0.2 billion in securities sold under agreements to repurchase.

Securities sold under agreements to repurchase are generally a form of short-term funding for the Bank in which it sells securities to counterparties with an agreement to buy them back in the future at a fixed price. Securities sold under agreements to repurchase totaled $101.7 million and $344.2 million at September 30, 2025, and December 31, 2024, respectively. The $0.2 billion decrease is primarily due to a change in short-term funding mix.

The Bank may also purchase term and overnight federal funds to meet its short-term liquidity needs. There were no federal funds purchased at September 30, 2025 and December 31, 2024.

FHLB advances are not only utilized