Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 68

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 68
---
 money market accounts, reflects the amount payable on demand at the reporting date. Deposit liabilities are classified within Level 2 of the fair value hierarchy.

76

Time Deposits. The fair value of fixed-maturity certificates of deposit is estimated using rates that are currently offered for deposits with similar remaining maturities. Time deposits are classified within Level 2 of the fair value hierarchy.Securities Sold Under Agreements to Repurchase and Federal Funds Purchased. The fair value of securities sold under agreements to repurchase and federal funds purchased that mature within 90 days approximates their carrying value. The fair value of securities sold under agreements to repurchase and federal funds purchased that mature after 90 days is estimated using a discounted cash flow methodology based on current market rates and adjusted for associated credit risks, as appropriate. Securities sold under agreements to repurchase and federal funds purchased are classified within Level 2 of the fair value hierarchy.Federal Home Loan Bank Advances and Long-Term Debt. The fair value of FHLB advances and long-term debt is estimated using a discounted cash flow methodology in which discount rates are matched with the time period of the expected cash flows and adjusted for associated credit risks, as appropriate. FHLB advances and long-term debt are classified within Level 2 of the fair value hierarchy.The following table summarizes the carrying amounts, estimated fair values, and classifications within the fair value hierarchy of selected financial instruments: June 30, 2025December 31, 2024(In thousands)CarryingAmountFairValueCarryingAmountFairValueAssets:Level 1Cash and cash equivalents$2,993,919 $2,993,919 $2,074,434 $2,074,434 Level 2Held-to-maturity investment securities, net8,192,720 7,291,244 8,444,191 7,453,123 Level 3Loans and leases, net52,949,913 51,416,732 51,815,602 50,245,305 Liabilities:Level 2Deposit liabilities$58,394,540 $58,394,540 $56,518,126 $56,518,126 Time deposits7,919,885 7,895,161 8,234,954 8,211,582 Securities sold under agreements to repurchase and federal funds purchased372,806 372,858 344,168 344,166 FHLB advances