Company: WBS-PG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0000801337-25-000104
Chunk: 91

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 91
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Tangible book value per common share represents stockholders’ equity, less preferred stock and goodwill and other intangible assets (tangible common equity), divided by common shares outstanding at the end of the reporting period. The tangible common equity ratio represents tangible common equity divided by total assets, less goodwill and other intangible assets (tangible assets). Both of these measures are used by management to evaluate the Company’s capital position. The annualized return on average tangible common stockholders’ equity is calculated using net income less preferred stock dividends, adjusted for the annualized tax-effected amortization of intangible assets, as a percentage of average tangible common equity. This measure is used by management to assess the Company’s performance against its peer financial institutions. The efficiency ratio, which represents the costs expended to generate a dollar of revenue, is calculated excluding certain non-operational items in order to measure how well the Company is managing its recurring operating expenses.

These non-GAAP financial measures should not be considered a substitute for GAAP-basis financial measures. Because non-GAAP financial measures are not standardized, it may not be possible to compare these with other companies that present financial measures having the same or similar names.

The following tables reconcile non-GAAP financial measures to the most comparable financial measures defined by GAAP:September 30,(Dollars and shares in thousands, except per share data)20252024Tangible book value per common share:Stockholders’ equity$9,462,677 $9,198,050 Less: Preferred stock283,979 283,979          Goodwill and other intangible assets3,175,747 3,212,050 Tangible common stockholders’ equity$6,002,951 $5,702,021 Common shares outstanding164,817 171,428 Tangible book value per common share$36.42 $33.26 Book value per common share (GAAP)$55.69 $52.00 Tangible common equity ratio:Tangible common stockholders’ equity$6,002,951 $5,702,021 Total assets$83,192,652 $79,453,900 Less: Goodwill and other intangible assets3,175,747 3,212,050 Tangible assets$80,016,905 $76,241,850 Tangible common equity ratio7.50 %7.48 %Common stockholders’ equity to total assets (GAAP)