Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 110

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 110
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downs and the transfer of loans from portfolio to held for sale, particularly as it relates to joint venture activities in the second quarter of 2025, as mentioned in the above paragraph;

•Accrued interest receivable and other assets increased $229.7 million. Notable drivers of the change included increases in treasury derivative assets, LIHTC investments, other alternative investments, and other assets.

Total liabilities increased $2.7 billion, or 3.8%, from $69.9 billion at December 31, 2024, to $72.6 billion at June 30, 2025. The change in total liabilities was primarily attributed to the following items:

•Total deposits increased $1.5 billion, primarily reflecting a $1.5 billion increase in interest-bearing deposits and an immaterial increase in non-interest-bearing deposits. The net increase in total deposits was primarily due to an increase in money markets, particularly from interSYNC, which contributed to $1.4 billion of the change. The Company also experienced increases across all other deposit categories except for brokered certificates of deposit, which decreased primarily due to a change in short-term funding mix;

•FHLB advances increased $1.2 billion, also primarily due to a change in short-term funding mix;

•Accrued expenses and other liabilities decreased $0.1 billion. Notable drivers of the change included decreases in treasury derivative liabilities, accrued compensation due to bonus payouts in March 2025, unfunded commitments for LIHTC investments, and accrued interest payable, partially offset by increases in operating lease liabilities and other liabilities.

Total stockholders’ equity increased $0.2 billion, or 2.2%, from $9.1 billion at December 31, 2024, to $9.3 billion at June 30, 2025. The change in total stockholders’ equity was attributed to the following items: 

•Net income of $485.8 million;

•Other comprehensive income, net of tax, of $118.1 million;

•Dividends paid to common and preferred stockholders of $136.2 million and $8.3 million, respectively;

•Stock-based compensation expense of $29.1 million; 

•Repurchases of common stock of $261.9 million under the Company’s common stock repurchase program and $22.2 million related to employee