Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 87

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 87
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Effective as of the first quarter of 2025, the Company changed its methodology used to annualize net interest income in its quarterly net interest margin calculation. Net interest margin for the prior period has been recast. There were no changes to the related yields/rates or net interest income that had been previously disclosed. 

The following table summarizes the change in net interest income attributable to changes in rate and volume, and reflects net interest income on an FTE basis:Three months ended March 31,2025 vs. 2024Increase (decrease) due to(In thousands)Rate (1)VolumeTotalChange in interest on interest-earning assets:Loans and leases$(56,668)$21,192 $(35,476)Investment securities32,471 10,693 43,164 FHLB and FRB stock(145)(253)(398)Interest-bearing deposits(4,818)16,964 12,146 Loans held for sale— (67)(67)Total interest income$(29,160)$48,529 $19,369 Change in interest on interest-bearing liabilities:Health savings accounts$109 $260 $369 Interest-bearing checking(2,485)2,031 (454)Money market(34,720)31,075 (3,645)Savings5,288 1,310 6,598 Certificates of deposit(10,453)2,896 (7,557)Brokered certificates of deposits (3,027)(1,872)(4,899)Securities sold under agreements to repurchase1,355 150 1,505 Federal funds purchased— (1,937)(1,937)FHLB advances(5,757)(8,021)(13,778)Long-term debt1,593 (611)982 Total interest expense$(48,097)$25,281 $(22,816)Net change in net interest income$18,937 $23,248 $42,185 

(1)The change attributable to mix, a combined impact of rate and volume, is included with the change due to rate.

Net interest income increased $44.5 million, or 7.8%, from $567.7 million for the three months ended March 31, 2024, to $612.2 million for the three months ended March 31, 2025. Net interest margin increased