Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 128

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 128
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804)80,933 Total non-interest income$125,265 $88,113 $114,851 $(13,892)$314,337 Year ended December 31, 2022(In thousands)CommercialBankingHealthcare Financial ServicesConsumer BankingCorporate andReconcilingConsolidatedTotalNon-interest Income:Deposit service fees$23,449 $97,654 $75,567 $1,802 $198,472 Loan and lease related fees (1)21,498 — — — 21,498 Wealth and investment services11,350 — 28,957 (30)40,277 Other— 6,932 1,493 — 8,425 Revenue from contracts with customers56,297 104,586 106,017 1,772 268,672 Other sources of non-interest income107,747 — 21,067 43,297 172,111 Total non-interest income$164,044 $104,586 $127,084 $45,069 $440,783 (1)A portion of loan and lease related fees is comprised of income generated from factored receivables and payroll financing activities that is within the scope of ASC Topic 606. These Commercial Banking revenue streams were new to the Company in 2022 due to the businesses acquired in connection with the Sterling merger.(2)Effective as of the fourth quarter of 2022, the wealth and investment services revenue stream for Consumer Banking was impacted by the restructuring of a process in which the Company offers brokerage, investment advisory, and certain insurance-related services to customers. The staff providing these services, who had previously been employees of the Bank, are now employees of a third-party service provider. As a result, the Company now recognizes income from this program on a net basis, which thereby reduces gross reported wealth and investment services non-interest income and the related compensation and benefits non-interest expense on the accompanying Consolidated Statements of Income.(3)Other income included in the Corporate and Reconciling category that is in scope of ASC Topic 606 is comprised entirely of insignificant fee revenue from contracts with customers attributable to interLINK. This revenue stream was new to the Company in 2023 due to the operations acquired in connection with the interLINK acquisition.(4)The increase in other income for Healthcare Financial Services from prior periods is primarily related to the Ametros business, which was acquired in January