Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 45

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 45
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21,742 $— $23,470 Agency MBS2,409,521 1,141 (284,776)2,125,886 — 2,409,521 Agency CMBS3,625,627 18,586 (514,534)3,129,679 — 3,625,627 Municipal bonds and notes916,104 2,440 (24,877)893,667 209 915,895 CMBS100,075 — (6,426)93,649 — 100,075 Total held-to-maturity$7,074,797 $22,167 $(832,341)$6,264,623 $209 $7,074,588 (1)Accrued interest receivable on held-to-maturity securities of $30.5 million and $24.9 million at December 31, 2024, and 2023, respectively, is excluded from amortized cost and is included in Accrued interest receivable and other assets on the accompanying Consolidated Balance Sheets.An ACL on held-to-maturity securities is recorded for certain Municipal bonds and notes to account for expected lifetime credit losses. Agency securities represent obligations issued by a U.S. government-sponsored enterprise or other federally related entity and are either explicitly or implicitly guaranteed, and therefore, assumed to be zero loss. Held-to-maturity securities with gross unrealized losses and no ACL are considered to be high credit quality, and therefore, zero credit loss has been recorded. The following table summarizes the activity in the ACL on held-to-maturity securities:Years ended December 31,(In thousands)202420232022Balance, beginning of period$209$182$214(Benefit) provision for credit losses(38)27(32)Balance, end of period$171$209$182Contractual MaturitiesThe following table summarizes the amortized cost and fair value of held-to-maturity securities by contractual maturity:At December 31, 2024(In thousands)Amortized CostFair ValueMaturing within 1 year$49,231 $49,217 After 1 year through 5 years158,778 149,418 After 5 years through 10 years241,456 233,792 After 10 years7,994,897 7,020,696 Total held-to-maturity$8,444,362 $