Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 38

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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%$2,110,108 4.49 %Aggregate market value of assets pledged as collateral$16,544,661 $16,581,133 Remaining borrowing capacity at FHLB7,889,282 8,670,348 The Bank may borrow up to a discounted amount of eligible loans and securities that have been pledged as collateral to secure FHLB advances, which includes certain residential, multi-family, and commercial real estate loans, home equity lines of credit, Agency MBS, and Agency CMO. The Bank was in compliance with its FHLB collateral requirements at both March 31, 2025, and December 31, 2024.

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Long-term DebtThe following table summarizes long-term debt: (Dollars in thousands)March 31,2025December 31,20244.100%Senior fixed-rate notes due March 25, 2029 (1)$321,413 $322,751 Subordinated floating-rate notes due December 30, 2029 (2)274,000 274,000 3.875%Subordinated fixed-to-floating rate notes due November 1, 2030225,000 225,000 Junior subordinated debt Webster Statutory Trust I floating-rate notes due September 17, 2033 (3)77,320 77,320 Total senior and subordinated debt897,733 899,071 Discount on senior fixed-rate notes(398)(423)Debt issuance cost on senior fixed-rate notes(1,070)(1,137)Premium on subordinated fixed-to-floating rate notes11,145 11,674 Long-term debt (4)$907,410 $909,185 (1)The Company de-designated its fair value hedging relationship on these senior fixed-rate notes in 2020. A basis adjustment of $21.4 million and $22.8 million at March 31, 2025, and December 31, 2024, respectively, is included in the carrying value and is being amortized over the remaining life of the senior fixed-rate notes.(2)The interest rate on the 2029 subordinated floating-rate notes varies quarterly based on 3-month term SOFR plus 253 basis points, which yielded 6.83% at March 31, 2025, and 6.84% at December 31, 2024.(3)The interest rate on the Webster Stat