Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 6

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 6
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 and $2,610 at December 31, 2023.

See accompanying Notes to Consolidated Financial Statements.

66

WEBSTER FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOMEYears ended December 31,(In thousands, except per share data)202420232022Interest income:Interest and fees on loans and leases$3,182,466 $3,071,378 $1,946,558 Taxable interest on investment securities636,177 396,681 269,233 Non-taxable interest on investment securities38,758 54,207 50,442 Loans held for sale13,911 734 78 Other interest and dividends55,974 105,260 18,426 Total interest income3,927,286 3,628,260 2,284,737 Interest expense:Deposits1,427,204 1,021,418 138,552 Securities sold under agreements to repurchase and federal funds purchased 4,113 9,102 19,059 Federal Home Loan Bank advances125,329 222,537 58,557 Long-term debt32,253 37,934 34,283 Total interest expense1,588,899 1,290,991 250,451 Net interest income2,338,387 2,337,269 2,034,286 Provision for credit losses222,000 150,747 280,619 Net interest income after provision for credit losses2,116,387 2,186,522 1,753,667 Non-interest income:Deposit service fees161,144 169,318 198,472 Loan and lease related fees76,384 84,861 102,987 Wealth and investment services33,234 28,999 40,277 Cash surrender value of life insurance policies27,712 26,228 29,237 (Loss) on sale of investment securities, net (136,224)(33,620)(6,751)Other income89,649 38,551 76,561 Total non-interest income251,899 314,337 440,783 Non-interest expense:Compensation and benefits762,794 711,752 723,620 Occupancy72,161 77,520 113,899 Technology and equipment195,017 197,