Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 252

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 252
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 market and savings, partially offset by lower account balances in non-interest-bearing demand and checking.

Assets under administration and assets under management, in aggregate, increased $54.3 million, or 1.9%, at December 31, 2024, as compared to December 31, 2023, primarily due to an increase in investment account balances as a result of higher valuations in the equity markets, partially offset by net outflows during the year.

42

Healthcare Financial Services

Operating Results:Years ended December 31,(In thousands)202420232022Net interest income$366,927 $302,856 $218,149 Non-interest income110,207 88,113 104,586 Non-interest expense214,089 168,160 151,329 Pre-tax, pre-provision, net revenue$263,045 $222,809 $171,406 

Healthcare Financial Services’ PPNR increased $40.2 million, or 18.1%, for the year ended December 31, 2024, as compared to the year ended December 31, 2023, due to increases in net interest income and non-interest income, partially offset by an increase in non-interest expense. The $64.0 million increase in net interest income is primarily due to the acquisition of Ametros, and increase in HSA net deposit spread, and HSA deposit growth. The $22.1 million increase in non-interest income is primarily due to incremental fee income related to the acquired Ametros business and higher interchange fee activity in 2024, partially offset by a decrease in customer account and other fees. The $45.9 million increase in non-interest expense is primarily due to incremental expenses related to the acquired Ametros business, higher employee compensation and benefits costs, and an increase in service contract expenses related to account growth, partially offset by a decrease in occupancy expenses.

Selected Balance Sheet and Off-Balance Sheet Information:At December 31,(In thousands)20242023Deposits$9,966,773 $8,287,705 Assets under administration, through linked investment accounts (off-balance sheet)5,321,736 4,641,830 

Deposits increased $1.7 billion, or 20.3%, at December 31, 2024, as compared to at December 31, 2023, primarily due to the acquisition of Ametros, additional HSA account holders