Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 58

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 derivative financial instruments that are subject to master netting agreements:June 30, 2025Gross Amounts of Recognized Assets/LiabilitiesGross Amounts Offset in the Statement of Financial PositionNet Amounts of Assets/Liabilities Presented in the Statement of Financial PositionGross Amounts Not Offset in the Statement of Financial Position(In thousands)Financial InstrumentsCash Collateral PledgedNet AmountAsset derivatives$174,505 $59,898 $114,607 $— $114,607 $— Liability derivatives76,369 59,898 16,471 — 15,860 611 December 31, 2024Gross Amounts of Recognized Assets/LiabilitiesGross Amounts Offset in the Statement of Financial PositionNet Amounts of Assets/Liabilities Presented in the Statement of Financial PositionGross Amounts Not Offset in the Statement of Financial Position(In thousands)Financial InstrumentsCash Collateral PledgedNet AmountAsset derivatives$283,185 $31,881 $251,304 $— $251,212 $92 Liability derivatives32,218 31,881 337 — 80 257 Derivative ActivityThe following table summarizes the income statement effect of derivatives designated in hedge relationships: Recognized inThree months ended June 30,Six months ended June 30,(In thousands)Net Interest Income2025202420252024Fair value hedges:Interest rate derivativesDeposits interest expense$— $— $— $(1,320)Net recognized on fair value hedges (1)$— $— $— $1,320 Cash flow hedges:Interest rate derivativesLong-term debt interest expense$— $— $— $34 Interest rate derivativesInterest and fees on loans and leases(2,689)(11,847)(5,944)(22,611)Net recognized on cash flow hedges (2)$(2,689)$(11,847)$(5,944)$(22,645)(1)The Company de-designated its fair value hedging relationship on $400.0 million of deposits, which pertained to a portion of Ametros’ member deposits, in 2023. The $1.3 million basis adjustment included in the carrying amount of deposits at December 31, 2023, was recognized in interest expense in January 2024 upon the acquisition of Ametros.(2)Additional information