Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 41

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 months ended March 31, 2024(In thousands)Investment Securities Available-for-SaleDerivative Financial InstrumentsDefined Benefit Pension and Other Postretirement Benefit PlansTotalBalance, beginning of period$(517,450)$(2,869)$(30,252)$(550,571)Other comprehensive (loss) income before reclassifications(42,591)(37,937)251 (80,277)Amounts reclassified from accumulated other comprehensive (loss)6,320 7,948 479 14,747 Other comprehensive (loss) income, net of tax(36,271)(29,989)730 (65,530)Balance, end of period$(553,721)$(32,858)$(29,522)$(616,101)The following table further summarizes the amounts reclassified from accumulated other comprehensive (loss):Accumulated Other Comprehensive (Loss) ComponentsThree months endedAssociated Line Item on the Condensed Consolidated Statements of IncomeMarch 31,20252024(In thousands)Investment securities available-for-sale:Net unrealized gains (losses) (1)$528 $(8,688)Non-interest income (2)Tax benefit(143)2,368 Income tax expenseNet of tax$385 $(6,320)Derivative financial instruments:Interest payments (3)$(3,255)$(10,492)Interest and fees on loans and leasesHedge terminations— (34)Long-term debt interest expensePremium amortization— (272)Interest and fees on loans and leasesTax benefit883 2,850 Income tax expenseNet of tax$(2,372)$(7,948)Defined benefit pension and other postretirement benefit plans:Actuarial net loss amortization$(380)$(657)Other expenseTax benefit103 178 Income tax expenseNet of tax$(277)$(479)(1)Reclassification adjustments for net unrealized gains (losses) on investment securities available-for-sale that were sold during the reporting period are determined by reference to the unrealized gain or loss reported in the previous reporting period.(2)Gains and losses realized on sale of investment securities available-for-sale are generally included as a component of non-interest income on the accompanying Condensed Consolidated Statements of Income unless any portion or all of the loss is due to credit related factors, in which the amount is then included in the Provision for credit losses. Additional information regarding the presentation of gains and losses realized on sale of investment