Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 104

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 104
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 Multi-family12.5 %87.5 %100.0 %13.3 %86.7 %100.0 %March 31, 2025December 31, 2024Property Type:Owner OccupiedNon-Owner OccupiedTotalOwner OccupiedNon-Owner OccupiedTotalMulti-family 0.4 %35.5 %35.9 %0.4 %34.3 %34.7 %Industrial & Warehouse3.0 15.0 18.0 3.1 14.6 17.7 Retail0.5 8.2 8.7 0.5 8.1 8.6 Construction0.1 5.8 5.9 0.1 7.7 7.8 Healthcare & Senior Living3.4 1.7 5.1 4.3 1.9 6.2 Medical Office0.1 4.4 4.5 0.1 4.2 4.3 Traditional Office— 3.7 3.7 — 3.8 3.8 Hotel— 2.1 2.1 — 2.1 2.1 Other5.0 11.1 16.1 4.8 10.0 14.8 Total Commercial real estate & Multi-family12.5 %87.5 %100.0 %13.3 %86.7 %100.0 %

The weighted-average LTV ratio for non-owner occupied commercial real estate and multi-family loans at both March 31, 2025, and December 31, 2024, was 57%. The Company calculates its LTV ratios primarily using appraisals at origination unless a full appraisal is subsequently required based on deal-specific events.

Given the foundational change in office demand driven by the acceptance of remote work options, the commercial real estate market has continued to experience an increase in office property vacancies. As such, commercial real estate performance across the United States related to the traditional office sector continues to be an area of uncertainty. At March 31, 2025, the outstanding principal balance of traditional office commercial real estate loans was approximately $0.8 billion, which had reserves of $41.7 million established against it. While the Company does anticipate ongoing