Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 36

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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982,554 Time deposits7,522,392 8,234,954 Total interest-bearing$55,436,098 $54,436,579 Total deposits$65,575,229 $64,753,080 Time deposits, money market, and interest-bearing checking obtained through brokers (1)$2,311,841 $3,181,298 Aggregate amount of time deposit accounts that exceeded the FDIC limit (2)1,436,038 1,407,077 Deposit overdrafts reclassified as loan balances4,486 7,146 (1)Excludes money market sweep deposits received through interLINK of $8.0 billion at March 31, 2025, and $7.3 billion at December 31, 2024.(2)Excludes time deposit accounts that were at the FDIC limit of $25.0 million at March 31, 2025, and $16.8 million at December 31, 2024.The following table summarizes the scheduled maturities of time deposits:(In thousands)March 31,2025Remainder of 2025$6,765,026 2026670,820 202737,100 202818,951 202918,312 Thereafter12,183 Total time deposits$7,522,392 

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Note 7: Borrowings

Securities Sold Under Agreements to Repurchase and Federal Funds PurchasedThe following table summarizes securities sold under agreements to repurchase and federal funds purchased:March 31, 2025December 31, 2024(Dollars in thousands)Total OutstandingRateTotal OutstandingRateSecurities sold under agreements to repurchase (1)$83,395 0.12 %$344,168 2.98 %Federal funds purchased— — — — Securities sold under agreements to repurchase and federal funds purchased$83,395 0.12 %$344,168 2.98 %(1)Securities sold under agreements to repurchase have an original maturity of one year or less for the periods presented. The Company’s repurchase agreement counterparties are limited to primary dealers in government securities and commercial and municipal customers through the Corporate Treasury function. The Company has the right of offset with respect to repurchase agreement assets and liabilities with the same counterparty when master netting agreements are in place. Securities sold under agreements to