Company: WBS-PG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000801337-25-000083
Chunk: 109

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 109
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 billion, respectively. The $0.4 billion increase was primarily due to increased residential mortgage originations, partially offset by decreased small business commercial loan originations.

Deposits increased $456.9 million, or 1.7%, at June 30, 2025, as compared to December 31, 2024, primarily due to growth in online savings deposit accounts.

Assets under administration decreased $451.2 million, or 5.6%, at June 30, 2025, as compared to December 31, 2024, primarily due to the sale of two investment portfolios and volatility in the equity markets during the six months ended June 30, 2025.

14

Financial Condition

Total assets increased $2.9 billion, or 3.7%, from $79.0 billion at December 31, 2024, to $81.9 billion at June 30, 2025. The change in total assets was primarily attributed to the following items, which experienced changes greater than $100 million:

•Cash and cash equivalents increased $0.9 billion, primarily due to an increase in interest-bearing deposits held at the FRB as a result of management’s strategic decision to hold higher levels of on-balance sheet liquidity;

•Total investment securities, net increased $0.3 billion, reflecting a $0.6 billion increase in the available-for-sale portfolio, partially offset by a $0.3 billion decrease in the held-to-maturity portfolio. The net increase in total investment securities was primarily due to purchases exceeding paydown activities, particularly across the Agency MBS, Agency CMBS, and CMBS categories;

•Loans held for sale increased $250.8 million, primarily due to the transfer of $242.2 million of commercial non-mortgage loans from portfolio to held for sale in June 2025 in connection with activities related to the joint venture with Marathon Asset Management. Additional information regarding joint venture activities can be found within Note 2: Business Developments in the Notes to Condensed Consolidated Financial Statements contained in Part I - Item 1. Financial Statements;

•Loans and leases increased $1.2 billion, primarily due to $6.5 billion of originations during the six months ended June 30, 2025, particularly across the commercial non-mortgage, commercial real estate, and residential mortgages categories, partially offset by net principal pay