Company: WBS-PG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0000801337-25-000104
Chunk: 105

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 105
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 2025, primarily due to increases in Compensation and benefits and Deposit insurance, partially offset by decreases in Technology and equipment and Other expense.

Compensation and benefits increased $14.3 million, or 7.3%, from $194.7 million for the three months ended September 30, 2024, to $209.0 million for the three months ended September 30, 2025, primarily due to higher compensation resulting from investments in human capital and risk management infrastructure and performance-based incentives, partially offset by a decrease in severance.

Technology and equipment decreased $9.2 million, or 16.2%, from $56.7 million for the three months ended September 30, 2024, to $47.5 million for the three months ended September 30, 2025, primarily due to a decrease in technology contract termination costs.

Deposit insurance increased $2.1 million, or 15.2%, from $13.6 million for the three months ended September 30, 2024, to $15.6 million for the three months ended September 30, 2025, primarily due to the impact from an increase in the Company’s deposit insurance assessment base.

Other expense decreased $2.6 million, or 7.2%, from $36.4 million for the three months ended September 30, 2024, to $33.8 million for the three months ended September 30, 2025, primarily due to the impairment loss on the payroll finance customer relationship intangible asset in the third quarter of 2024 and individually immaterial decreases in various other expense items.

Comparison to Prior Year to Date 

Total non-interest expense remained relatively flat at approximately $1.0 billion for the nine months ended September 30, 2025, and 2024. Although the financial statement caption as a whole did not change significantly, notable fluctuations were experienced in Compensation and benefits, Occupancy, Technology and equipment, Professional and outside services, Deposit insurance, and Other expense.

Compensation and benefits increased $37.5 million, or 6.6%, from $570.1 million for the nine months ended September 30, 2024, to $607.6 million for the nine months ended September 30, 2025, primarily due to higher compensation resulting from investments in human capital and risk management infrastructure, performance-based incentives, and employee benefits, partially offset