Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 7

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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 Company holds or manages in a fiduciary or agency capacity for customers are not included in the Condensed Consolidated Financial Statements.Certain prior period amounts disclosed in Note 9: Accumulated Other Comprehensive (Loss), Net of Tax have been reclassified to conform to the current period presentation. These reclassifications did not have a material impact on the Company’s Condensed Consolidated Financial Statements.Use of EstimatesThe preparation of the Condensed Consolidated Financial Statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.Supplemental Cash Flow InformationThe following table summarizes supplemental disclosures of cash flow information and non-cash investing and financing activities:Three months ended March 31,(In thousands)20252024Supplemental disclosure of cash flow information:Interest paid$393,822 $416,290 Income taxes paid3,790 11,240 Non-cash investing and financing activities:Transfer of loans held for investment to foreclosed properties and repossessed assets$310 $742 Transfer of returned finance lease equipment to assets held for sale727 1,524 Transfer of loans held for investment to loans held for sale59,948 284,806 Deposit overdrafts reclassified as loan balances4,486 12,251 ROU lease assets obtained in exchange for operating lease liabilities24,261 4,143 Approved commitments to fund LIHTC investments 70,753 158,654 Acquisition of Ametros:Tangible assets acquired$— $256,957 Goodwill and other intangible assets— 417,085 Liabilities assumed (1)— 299,507 Forgiveness of long-term debt— 12,875 Pre-existing equity interest— 2,200 (1)Reflects the sum of the $293.7 million of liabilities assumed from Ametros and the $5.8 million liability assumed for the Seller’s transaction expenses, which was included as part of the purchase price consideration and paid by the Company at closing.

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Relevant Accounting Standards Issued But Not Yet AdoptedASU No. 2023-09—Income Taxes (Topic 740)—Improvements to Income Tax DisclosuresIn December 2023, the FASB issued ASU No.