Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 133

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 133
---
3,449,054)         Collateralized deposits(4,428,242)Uninsured deposits, after exclusions$13,986,253Immediately available liquidity (1)$26,155,156Uninsured deposits coverage187.0%

(1)Reflects $7.6 billion and $16.1 billion of additional borrowing capacity from the FHLB and the FRB, respectively, and $2.5 billion of interest-bearing deposits held at FRB.

Uninsured deposits, after adjusting for affiliate deposits and collateralized deposits, represented 21.1% of total deposits at June 30, 2025. Management believes that this presentation provides a more accurate view of deposits at risk given that affiliate deposits are not customer-facing, and therefore are eliminated upon consolidation, and collateralized deposits are secured by other means. As of the date of this Quarterly Report on Form 10-Q, the Company’s uninsured deposits as a percentage of total deposits, adjusted for affiliate deposits and collateralized deposits, is consistent with the percentage reported at June 30, 2025.

The following table summarizes the portion of U.S. time deposits in excess of the FDIC insurance limit and time deposits otherwise uninsured by contractual maturity:(In thousands)June 30, 2025Portion of U.S. time deposits in excess of insurance limit$574,072Time deposits otherwise uninsured with a maturity of:3 months or less$117,539Over 3 months through 6 months277,439Over 6 months through 12 months178,100Over 12 months994

Additional information regarding period-end deposit balances and rates can be found within Note 6: Deposits in the Notes to Condensed Consolidated Financial Statements contained in Part I - Item 1. Financial Statements.

Borrowings. The Bank’s primary borrowing sources include securities sold under agreements to repurchase, federal funds purchased, FHLB advances, and long-term debt. Total borrowings were $4.6 billion and $3.4 billion at June 30, 2025, and December 31, 2024, respectively, and represented 5.6% and 4.3% of total assets, respectively. The $1.2 billion net increase is primarily due to increases of $1.2 billion in FHLB advances and $28.6 million in securities sold under agreements to repurchase.

Securities sold under agreements to repurchase