Company: WBS-PG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0000801337-25-000104
Chunk: 18

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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1,468,615 (32,528)1,540,263 (333,185)1853,008,878 (365,713)CMBS— — 457,423 (6,008)32457,423 (6,008)Corporate debt— — 426,805 (43,755)59426,805 (43,755)Private label MBS— — 39,219 (4,862)339,219 (4,862)Other— — 9,205 (650)29,205 (650)Total$4,094,196 $(64,068)$4,043,216 $(661,832)751$8,137,412 $(725,900)The $152.9 million decrease in gross unrealized losses of available-for-sale securities from December 31, 2024, to September 30, 2025, is primarily due to lower market interest rates. The Company assesses each available-for-sale security that is in an unrealized loss position on a quarterly basis to determine whether the decline in fair value below the amortized cost basis is a result of any credit related factors. There was no ACL recorded on available-for-sale securities at September 30, 2025. At December 31, 2024, the ACL on available-for-sale securities was $0.9 million, which related to a single Corporate debt security. Each of the Company’s available-for-sale securities in an unrealized loss position at September 30, 2025 are investment grade, current as to principal and interest, and their price changes are consistent with interest and credit spreads when adjusting for duration, convexity, rating, and industry differences.Based on current market conditions and the Company’s targeted balance sheet composition strategy, the Company intends to hold its available-for-sale securities with unrealized loss positions through the anticipated recovery period. The issuers of these available-for-sale securities have not, to the Company’s knowledge, established any cause for default. Market prices are expected to approach par as the securities approach maturity.Contractual MaturitiesThe following table summarizes the amortized cost and fair value of available-for-sale securities by contractual maturity:September 30, 2025(In thousands)Amortized CostFair ValueMaturing within 1 year$615 $614 After 1 year through 5 years281,681 278,074 After 5 through