Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 65

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 65
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ings Prior to the Adoption of ASU 2022-02The following table summarizes loans and leases modified as TDRs by class and modification type:Year ended December 31, 2022Number ofContractsRecordedInvestment (1)(Dollars in thousands)Commercial non-mortgage:Extended maturity5$291Maturity / rate combined8765Other (2)1952,070Asset-based:Other (2)123,298Equipment financing:Other (2)31,692Residential:Extended maturity21,185Maturity / rate combined2133Other (2)83,158Home equity:Adjusted interest rate174Maturity / rate combined212,623Other (2)372,134Total TDRs107$87,423(1)Post-modification balances approximate pre-modification balances. The aggregate amount of charge-offs due to restructurings was not significant.(2)Other includes covenant modifications, forbearance, discharges under Chapter 7 bankruptcy, or other concessions.The portion of TDRs deemed to be uncollectible and charged-off during the year ended December 31, 2022, were $14.7 million for the commercial portfolio, and $0.3 million for the consumer portfolio.

During the year ended December 31, 2022, there were three commercial non-mortgage, two residential mortgages, and two other consumer loans with an aggregate amortized cost of $3.6 million, $0.6 million, and $0.3 million, respectively, that were modified as TDRs within the previous twelve months and for which there was a payment default. 

102

Note 5: Transfers and Servicing of Financial Assets

Gains and losses on sales of loans are included in Other income on the accompanying Consolidated Statements of Income. During the year ended December 31, 2024, the Company recognized net (losses) on sales of loans of $(11.8) million, which included the impact from the write-off of the factored receivables customer relationship intangible asset in connection with the sale of the factored receivables portfolio, as discussed below. Excluding this charge, the Company recognized net gains on sale of loans of $7.9 million during the year ended December 31, 2024. During the years ended December 31, 2023, and 2022, the Company recognized net gains on sales of loans of $2.0 million,