Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 244

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 244
---
FTE)3.42 %3.52 %3.49 %

(1)Non-accrual loans have been included in the computation of average balances.

(2)In order to provide the users of the Company’s financial statements with a more transparent view of the actual consolidated average balances that are used in the calculation of net interest margin, the Company has recast, in the above table, certain consolidated average balances for the years ended December 31, 2023, and 2022, to reflect a change in presentation being applied retrospectively. Specifically, adjustments were made to exclude average unsettled trades of $108.9 million and $70.9 million, respectively, and average available-for-sale unrealized losses of $895.8 million and $507.7 million, respectively, from investment securities, and to exclude an average basis adjustment of $30.8 million and $36.1 million, respectively, from long-term debt related to a de-designated fair value hedge. Rather, effective as of December 31, 2024, these average balances are being presented in average non-interest-earning assets and average non-interest-bearing liabilities, respectively. There was no change to the related yields/rates, net interest income, or net interest margin that had been previously disclosed.

(3)Interest-bearing deposits are a component of cash and cash equivalents on the Consolidated Statements of Cash Flows included in Part II - Item 8. Financial Statements and Supplementary Data.

37

The following table summarizes the change in net interest income attributable to changes in rate and volume, and reflects net interest income on an FTE basis:Years ended December 31,2024 vs. 2023Increase (decrease) due to2023 vs. 2022Increase (decrease) due to(In thousands)Rate (1)VolumeTotalRate (1)VolumeTotalChange in interest on interest-earning assets:Loans and leases$78,816$32,128$110,944$833,430$312,518$1,145,948Investment securities (2)160,50052,269212,769116,54115,355131,896FHLB and FRB stock(1,406)(4,746)(6,152)12,4023,60816,010Interest-bearing deposits110(43,244)(43,134)55,18415,64070,824Loans held for sale13,743(566