Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 40

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 of common shares acquired outside of the Company’s common stock repurchase program related to stock compensation plan activity during the three months ended March 31, 2025, and 2024, respectively.Common Stock Repurchase ProgramThe Company maintains a common stock repurchase program, which was approved by the Board of Directors on October 24, 2017, that permits management to repurchase shares of Webster common stock in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the SEC, subject to the availability and trading price of stock, general market conditions, alternative uses for capital, regulatory considerations, and the Company’s financial performance. During the three months ended March 31, 2025, the Company repurchased 3,569,454 shares under the repurchase program at a weighted-average price of $50.70 per share, totaling $181.0 million. At March 31, 2025, the Company’s remaining repurchase authority was $47.0 million. On April 30, 2025, the Board of Directors increased the Company’s authority to repurchase shares of Webster common stock under the repurchase program by $700.0 million. Preferred StockInformation regarding the Company’s preferred stock can be found within Note 12: Stockholders’ Equity in the Notes to Consolidated Financial Statements contained in Part II - Item 8. Financial Statements and Supplementary Data of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

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Note 9: Accumulated Other Comprehensive (Loss), Net of Tax

The following tables summarize the change in each component of accumulated other comprehensive (loss), net of the related tax impact:Three months ended March 31, 2025(In thousands)Investment Securities Available-for-SaleDerivative Financial InstrumentsDefined Benefit Pension and Other Postretirement Benefit PlansTotalBalance, beginning of period$(520,318)$(9,600)$(26,465)$(556,383)Other comprehensive income before reclassifications96,966 7,752 — 104,718 Amounts reclassified from accumulated other comprehensive (loss)(385)2,372 277 2,264 Other comprehensive income, net of tax96,581 10,124 277 106,982 Balance, end of period$(423,737)$524 $(26,188)$(449,401)Three