WEBSTER FINANCIAL CORPWBS

WEBSTER FINANCIAL CORP Goodwill & Intangibles Disclosure

10-KFiled Feb 27, 20262 min read
Goodwill and Other Intangible Assets
Goodwill
The following table summarizes changes in the carrying amount of goodwill:
December 31,
(In thousands)20252024
Balance, beginning of period$2,868,068 $2,631,465 
SecureSave acquisition29,454 — 
Ametros acquisition (1)
— 236,603 
Balance, end of period$2,897,522 $2,868,068 
(1)Reflects the $228.2 million of goodwill recorded in connection with the Ametros acquisition in January 2024, and $8.4 million of other adjustments.
Information regarding goodwill by reportable segment can be found within Note 20: Segment Reporting.
Other Intangible Assets
The following table summarizes other intangible assets:
 December 31,
20252024
(In thousands)Gross Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount		Gross Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Core deposits (1)
$342,875 $98,483 $244,392 $328,837 $76,795 $252,042 
Customer relationships (2)
120,855 59,255 61,600 122,063 47,186 74,877 
Non-competition agreements (3)
5,880 2,400 3,480 4,000 1,600 2,400 
Trade name 6,100 2,338 3,762 6,100 1,118 4,982 
Total other intangible assets$475,710 $162,476 $313,234 $461,000 $126,699 $334,301 
(1)The increase in the gross carrying amount of Core deposits is attributed to the acquisition of SecureSave and the acquisition of HSA portfolios from United Community Bank, Elements Financial Federal Credit Union, Allegacy Federal Credit Union, as previously discussed in Note 2: Business Developments.
(2)The decrease in the gross carrying amount of Customer relationships is attributed to the write-off of a single Bend customer relationship in connection with the immaterial sale of a related off-balance sheet HSA portfolio in November 2025. At the time of sale, the customer relationship had a net carrying amount of $0.7 million, reflecting a $1.2 million gross carrying amount, net of $0.5 million in accumulated amortization.
(3)The increase in the gross carrying amount of Non-competition agreements is attributed to the acquisition of SecureSave, as previously discussed in Note 2: Business Developments.
The remaining estimated aggregate future amortization expense for other intangible assets is as follows:
(In thousands)December 31, 2025
2026$36,985 
202735,578 
202832,414 
202929,938 
203028,997 
Thereafter149,322 

Historical Timeline

Fiscal YearFiled
2025Feb 27, 2026Showing above
2024Mar 3, 2025
2023Feb 27, 2024
2022Mar 10, 2023
2021Feb 25, 2022
2020Feb 26, 2021
2019Feb 28, 2020
2018Mar 1, 2019
2017Mar 1, 2018
2016Mar 1, 2017
2015Feb 29, 2016

About Goodwill & Intangibles Disclosures

Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.

Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.

Other Available Disclosures

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