WEBSTER FINANCIAL CORP

Listed Company

WBS-PGCIK 0000801337NYSELarge AcceleratedNational Commercial BanksDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.90B

Net Income

$1.00B

Total Assets

—

Equity

—

Shares Out

162.03M

Op. Cash Flow

$1.06B

Business

WEBSTER FINANCIAL CORP is a bank holding company that operates a commercial bank providing financial products and services to businesses, individuals, and families. It offers deposit, lending, treasury management, wealth management, capital markets, commercial real estate, private banking, HSA and benefits administration, medical claim settlement custody and administration (CareGuard), direct lending via a private credit joint venture, and digital banking services. Operations are organized into three reportable segments: Commercial Banking, Healthcare Financial Services (including HSA Bank and Ametros), and Consumer Banking. The company primarily serves customers across the U.S. Northeast through a branch network, national commercial channels, joint ventures, and digital platforms.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans and leases	3,119	3,182	3,071	1,947	763
Taxable interest on investment securities	765	636	397	269	156
Non-taxable interest on investment securities	29	39	54	50	21
Loans held for sale	4	14	734,000	78,000	246,000
Other interest and dividends	105	56	105	18	3
Total interest income	4,022	3,927	3,628	2,285	943
Deposits	1,366	1,427	1,021	139	20
Securities sold under agreements to repurchase and federal funds purchased	3	4	9	19	3
Federal Home Loan Bank advances	111	125	223	59	2
Long-term debt	43	32	38	34	17
Total interest expense	1,524	1,589	1,291	250	42
Net interest income	2,498	2,338	2,337	2,034	901
Provision for credit losses	210	222	151	281	−55
Net interest income after provision for credit losses	2,288	2,116	2,187	1,754	956
Deposit service fees	158	161	169	198	163
Loan and lease related fees	71	76	85	103	37
Wealth and investment services	31	33	29	40	40
Cash surrender value of life insurance policies	33	28	26	29	14
Gain (loss) on sale of investment securities, net	220,000	−136	−34	−7	0
Other income	109	90	39	77	64
Total non-interest income	402	252	314	441	323
Compensation and benefits	822	763	712	724	420
Occupancy	77	72	78	114	55
Technology and equipment	191	195	198	186	113
Intangible assets amortization	36	36	36	32	5
Marketing	21	19	19	16	12
Professional and outside services	75	58	107	118	47
Deposit insurance	51	69	98	27	16
Other expense	156	139	169	180	77
Total non-interest expense	1,429	1,351	1,416	1,396	745
Income before income taxes	1,260	1,017	1,085	798	534
Income tax expense	257	248	217	154	125
Net income	1,003	769	868	644	409
Preferred stock dividends	17	17	17	16	—
Income allocated to participating securities	11	8	8	—	—
Net income available to common stockholders	975	744	843	628	—
Basic (in dollars per share)	5.91	4.38	4.91	3.72	4.43
Diluted (in dollars per share)	5.9	4.37	4.91	3.72	4.42

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	371	388	429	264	137
Interest-bearing deposits	2,079	1,686	1,286	576	324
Investment securities available-for-sale, at fair value	10,010	9,007	8,960	7,893	4,235
Investment securities held-to-maturity, net of allowance for credit losses of $171 and $209	7,970	8,444	7,075	6,565	6,198
Loans held for sale	15	28	7	2	5
Loans and leases	56,597	52,505	50,726	—	—
Allowance for credit losses on loan and leases	−719	−690	−636	−595	−301
Loans and leases, net	55,878	51,816	50,090	—	—
Federal Home Loan Bank and Federal Reserve Bank stock	356	321	327	446	72
Deferred tax assets, net	196	317	369	372	109
Premises and equipment, net	432	407	430	—	—
Goodwill	2,898	2,868	2,631	2,514	538
Other intangible assets, net	313	334	203	199	18
Cash surrender value of life insurance policies	1,271	1,252	1,248	1,229	572
Accrued interest receivable and other assets	2,286	2,157	1,890	1,618	531
Total assets	84,100	79,025	74,945	71,278	34,916
Non-interest-bearing	10,083	10,317	10,733	12,975	7,060
Interest-bearing	58,677	54,437	50,052	41,079	22,787
Total deposits	68,760	64,753	60,784	54,054	29,847
Securities sold under agreements to repurchase and federal funds purchased	597	344	458	1,152	675
Federal Home Loan Bank advances	2,981	2,110	2,360	5,461	11
Long-term debt	739	909	1,049	1,073	563
Accrued expenses and other liabilities	1,505	1,775	1,604	1,481	381
Total liabilities	74,581	69,892	66,255	63,221	31,477
Common stock	2	2	2	2	937,000
Paid-in capital	6,183	6,181	6,180	6,173	1,109
Retained earnings	4,478	3,759	3,283	2,714	2,333
Treasury stock, at cost21,562,037 and 11,386,920 shares	−1,104	−537	−508	—	—
Accumulated other comprehensive (loss), net of tax	−351	−556	−551	−685	−23
Total stockholders equity	9,492	9,133	8,690	8,056	3,438
Total liabilities and stockholders equity	84,074	79,025	74,945	71,278	34,916

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred income tax expense (benefit)	48	18	−54	−70	−5
Stock-based compensation	57	55	54	54	14
Depreciation and amortization of property and equipment and intangible assets	73	72	76	82	36
Net (accretion) and amortization of interest-earning assets and borrowings	−166	−95	−23	−26	133
Amortization of low-income housing tax credit investments	115	81	72	44	4
Reduction of ROU lease assets	30	31	31	57	−23
Originations of loans held for sale	−10	−7	−13	−33	−235
Proceeds from sale of loans held for sale	8	8	14	36	248
Net loss on sale of factored receivables portfolio	0	16	0	0	—
Net (gain) on sale of mortgage servicing rights	0	−12	0	0	−6
(Gain) from life insurance policies	−5	−14	−4	−6	−4
(Gain) on extinguishment of long-term debt	−10	0	−698,000	—	—
(Gain) on sale of alternative investments	−9	−15	0	0	—
Other operating activities, net	−16	−16	3	4	—
Net decrease (increase) in loans held for sale	3,000	−50	0	0	—
Net (increase) decrease in derivative contract assets and liabilities	−185	21	−73	537	174
Net decrease (increase) in prepaid expenses and other assets	37	247	−14	−107	−69
Net (decrease) in accrued expenses and other liabilities	−90	−35	−115	−149	38
Net cash provided by operating activities	1,058	1,404	979	1,336	689
Purchases of available-for-sale investment securities	−1,991	−3,203	−2,372	−1,100	−1,958
Proceeds from principal payments, maturities, and calls of available-for-sale investment securities	1,293	893	591	755	936
Proceeds from sale of available-for-sale investment securities	15	2,142	790	173	0
Purchases of held-to-maturity investment securities	0	−1,778	−892	−1,150	−1,968
Proceeds from principal payments, maturities, and calls of held-to-maturity investment securities	539	457	390	751	1,288
Net (increase) decrease in Federal Home Loan Bank and Federal Reserve Bank stock	−35	6	119	−224	6
Alternative investments (capital calls), net of returns of capital	−293	−160	−27	−25	−11
Proceeds from sales of alternative investments	13	20	0	0	—
Net (increase) in loans	−4,633	−2,489	−1,653	−7,502	−773
Proceeds from sale of loans not originated for sale	400	570	626	680	82
Proceeds from sale of mortgage servicing rights	0	19	0	0	—
Proceeds from sale of foreclosed properties and repossessed assets	2	9	4	3	2
Proceeds from sale of property and equipment	4	7	7	300,000	3
Purchases of property and equipment	−50	−36	−40	−29	−17
Proceeds from life insurance policies	19	34	20	22	5
Cash paid for acquisitions of HSA deposits	−6	0	0	—	—
Net cash (used in) investing activities	−4,748	−3,869	−2,596	−7,186	−2,405
Net increase in deposits	4,006	3,698	6,721	936	2,511
Net increase (decrease) in Federal Home Loan Bank advances	871	−250	−3,101	5,450	−122
Net increase (decrease) in securities sold under agreements to repurchase and federal funds purchased	253	−114	−693	447	−320
Repayment of long-term debt	−499	−133	−17	0	0
Proceeds from the issuance of long-term debt	347	0	0	—	0
Debt issuance costs	−2	0	0	—	0
Payment of contingent consideration	−11	−4	0	0	—
Dividends paid to common stockholders	−267	−275	−278	−248	−145
Dividends paid to preferred stockholders	−17	−17	−17	−14	−8
Exercise of stock options	67,000	254,000	2	703,000	3
Common stock repurchase program	−594	−65	−108	−322	0
Common shares acquired related to stock compensation plan activity	−23	−17	−16	−24	−4
Net cash (used in) financing activities	4,065	2,824	2,493	6,229	1,915
Net (decrease) increase in cash and cash equivalents	375	359	876	378	198

Filings

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