Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 134

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 134
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 are generally a form of short-term funding for the Bank in which it sells securities to counterparties with an agreement to buy them back in the future at a fixed price. Securities sold under agreements to repurchase totaled $372.8 million and $344.2 million at June 30, 2025, and December 31, 2024, respectively. The $28.6 million increase is primarily due to a change in short-term funding mix.

The Bank may also purchase term and overnight federal funds to meet its short-term liquidity needs. There were no federal funds purchased at June 30, 2025 and December 31, 2024.

FHLB advances are not only utilized as a source of funding, but also for interest rate risk management purposes. FHLB advances totaled $3.3 billion and $2.1 billion at June 30, 2025, and December 31, 2024, respectively. The $1.2 billion increase is primarily due to a change in short-term funding mix.

Long-term debt consists of senior notes maturing in 2029, subordinated notes maturing in 2029 and 2030, and junior subordinated notes maturing in 2033. Long-term debt remained flat at $0.9 billion at June 30, 2025 and December 31, 2024, respectively.

The Bank had additional borrowing capacity from the FHLB of $7.6 billion and $8.7 billion at June 30, 2025, and December 31, 2024, respectively. The Bank also had additional borrowing capacity from the FRB of $16.1 billion and $13.3 billion at June 30, 2025, and December 31, 2024, respectively. Unencumbered investment securities of $1.5 billion at June 30, 2025 could have been used for collateral on borrowings or to increase borrowing capacity by either $1.0 billion with the FHLB or $1.1 billion with the FRB.

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The following table summarizes daily average balances of borrowings by type and the weighted-average rates paid thereon:Three months ended June 30,20252024(Dollars in thousands)AverageBalanceAverage RateAverageBalanceAverage RateSecurities sold under agreements to repurchase$111,005 0.78