Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 4

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 4
---
 performance testing of the PD and LGD model and EAD method by comparing them to relevant Company-specific metrics and trends and the applicable industry practices;

•assessing the conceptual soundness and performance of the PD and LGD model by inspecting the model documentation to determine whether the model is suitable for the intended use;

•evaluating the selection of the economic forecast scenario and underlying macroeconomic variables by comparing them to the Company’s business environment and relevant industry practices; and 

•evaluating the methodology and assumptions used to develop the qualitative factors and the effect of those factors on the Commercial Allowance compared with credit trends and identified limitations of the underlying quantitative model.

We also assessed the sufficiency of the audit evidence obtained related to the Commercial Allowance estimate by evaluating the cumulative results of the audit procedures and potential bias in the accounting estimate.

/s/ KPMG LLP (185)

We have served as the Company’s auditor since 2013.

New York, New York

March 3, 2025

65

WEBSTER FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETSDecember 31,(In thousands, except share and par value data)20242023Assets:Cash and due from banks$388,060 $429,323 Interest-bearing deposits1,686,374 1,286,472 Investment securities available-for-sale, at fair value (1)9,006,600 8,959,729 Investment securities held-to-maturity, net of allowance for credit losses of $171 and $209 (2)8,444,191 7,074,588 Loans held for sale (3)27,634 6,541 Loans and leases52,505,168 50,726,052 Allowance for credit losses on loan and leases(689,566)(635,737)Loans and leases, net51,815,602 50,090,315 Federal Home Loan Bank and Federal Reserve Bank stock321,343 326,882 Deferred tax assets, net316,856 369,212 Premises and equipment, net406,963 429,561 Goodwill2,868,068 2,631,465 Other intangible assets, net334,301 203,135 Cash surrender value of life insurance policies1,251,622 1,247,938 Accrued interest receivable and other assets2,157,459 1,890,