Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 90

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 90
---
7 million. The amounts presented in non-interest income include the portion of any losses that were not due to credit related factors.

Other income decreased $12.9 million, or 39.0%, from $33.0 million for the three months ended March 31, 2024, to $20.1 million for the three months ended March 31, 2025, primarily due to the $11.7 million net gain on sale of mortgage servicing rights in the first quarter of 2024, the credit valuation adjustment, and bank-owned life insurance events in the first quarter of 2024, partially offset by higher direct investment income.

7

Non-Interest Expense Three months ended March 31,(In thousands)20252024Compensation and benefits$198,645 $188,540 Occupancy19,717 19,439 Technology and equipment47,719 45,836 Intangible assets amortization9,237 9,194 Marketing4,027 4,281 Professional and outside services17,226 12,981 Deposit insurance16,345 24,223 Other expense30,728 31,429 Total non-interest expense$343,644 $335,923 

Total non-interest expense increased $7.7 million, or 2.3%, from $335.9 million for the three months ended March 31, 2024, to $343.6 million for the three months ended March 31, 2025, primarily due to increases in Compensation and benefits and Professional and outside services, partially offset by a decrease in Deposit insurance.

Compensation and benefits increased $10.1 million, or 5.4%, from $188.5 million for the three months ended March 31, 2024, to $198.6 million for the three months ended March 31, 2025, primarily due to higher compensation, performance-based incentives, and employee benefits.

Professional and outside services increased $4.2 million, or 32.7%, from $13.0 million for the three months ended March 31, 2024, to $17.2 million for the three months ended March 31, 2025, primarily due to an increase in technology consulting fees.

Deposit insurance decreased $7.9 million, or 32.5%, from $24.2 million for the three months ended March 31