WEBSTER FINANCIAL CORPORATION (WBS)

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WEBSTER FINANCIAL CORPORATION

WBS • CIK 0000801337

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Interest and Fee Income, Other Loans	$3,071,378	$3,182,466	$3,118,558	$3,140,051
Interest Income, Securities, Operating, Taxable	$396,681	$636,177	$764,631	$757,566
Interest Income, Securities, Operating, Tax Exempt	$54,207	$38,758	$28,949	$32,231
Interest Income (Expense), Net	$2,337,269	$2,338,387	$2,497,894	$2,531,667
Interest and Fee Income, Loans and Leases Held-for-sale	$734	$13,911	$4,215	$4,213
Provision for Loan, Lease, and Other Losses	$150,747	$222,000	$210,000	$171,500
Other Interest and Dividend Income	$105,260	$55,974	$105,155	$111,377
Interest Income (Expense), after Provision for Loan Loss	$2,186,522	$2,116,387	$2,287,894	$2,360,167
Interest and Dividend Income, Operating	$3,628,260	$3,927,286	$4,021,508	$4,055,089
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$1,084,504	$1,017,007	$1,260,149	$1,279,156
Income Tax Expense (Benefit)	$216,664	$248,300	$257,347	$259,099
Net Income (Loss) Attributable to Parent	$867,840	$768,707	$1,002,802	$1,020,057
Preferred Stock Dividends, Income Statement Impact	—	$16,650	$16,650	$16,650
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic	$7,922	—	$11,291	$11,904
Net Income (Loss) Available to Common Stockholders, Basic	$843,268	$752,057	$974,861	$991,503
Interest Expense, Deposits	$1,021,418	$1,427,204	$1,365,703	$1,343,075
Interest Expense, Federal Funds Purchased and Securities Sold under Agreements to Repurchase	$9,102	$4,113	$3,298	$2,486
Interest Expense, Federal Home Loan Bank and Federal Reserve Bank Advances, Long-term	$222,537	$125,329	$111,183	$137,029
Interest Expense, Other Long-term Debt	$37,934	$32,253	$43,430	$40,832
Interest Expense	$1,290,991	$1,588,899	$1,523,614	$1,522,195
Fees and Commissions, Mortgage Banking and Servicing	$84,861	$76,384	$70,692	$71,398
Investment Banking, Advisory, Brokerage, and Underwriting Fees and Commissions	$28,999	$33,234	$30,983	$30,150
Life Insurance, Corporate or Bank Owned, Change in Value	$26,228	$27,712	$33,219	$35,948
Debt Securities, Available-for-sale, Realized Gain (Loss)	$-33,620	$-136,224	$220	$0
Noninterest Income, Other Operating Income	$37,311	$89,649	$108,514	$123,637
Noninterest Income	$314,337	$251,899	$401,519	$422,966
Labor and Related Expense	$711,752	$762,794	$821,748	$870,393
Occupancy, Net	$77,520	$72,161	$77,416	$77,597
Equipment Expense	$197,928	$195,017	$190,614	$197,098
Amortization of Intangible Assets	$36,207	$36,082	$36,304	$36,165
Marketing Expense	$18,622	$18,751	$20,978	$21,682
Professional Fees	$107,497	$58,253	$75,202	$83,270
Federal Deposit Insurance Corporation Premium Expense	$98,081	$68,912	$51,006	$54,085
Other Noninterest Expense	$168,748	$139,309	$155,996	$163,687
Noninterest Expense	$1,416,355	$1,351,279	$1,429,264	$1,503,977
Participating Securities, Distributed and Undistributed Earnings (Loss), Basic	—	$7,981	$11,291	$11,904
Undistributed Earnings, Basic	$851,190	$744,076	$974,861	$974,861
Weighted Average Number of Shares Outstanding, Basic	171,775,000	169,820,000	164,842,000	157,081,000
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	108,000	372,000	364,000	289,000
Weighted Average Number of Shares Outstanding, Diluted	171,883,000	170,192,000	165,206,000	157,370,000
Gain (Loss) on Extinguishment of Debt	—	—	$9,767	$9,767
Operating Income (Loss)	$1,235,251	$1,239,007	$1,470,149	$1,450,656

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash and Due from Banks	$429,323	$388,060	$370,748	$375,357
Interest-bearing Deposits in Banks and Other Financial Institutions	$1,286,472	$1,686,374	$2,078,777	$2,347,070
DebtSecuritiesAvailableForSaleExcludingAccruedInterest	$8,959,729	$9,006,600	$10,009,500	$10,600,328
Financing Receivable, Held-for-Sale	$6,541	$27,634	$14,886	$13,189
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss	$50,726,052	$52,505,168	$56,597,110	$57,868,678
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest	—	$689,566	$719,411	$723,846
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss	—	$51,815,602	$55,877,699	$57,144,832
Federal Home Loan Bank Stock and Federal Reserve Bank Stock	$326,882	$321,343	$356,411	$388,374
Deferred Income Tax Assets, Net	$369,212	$316,856	$195,740	$225,133
Property, Plant and Equipment, Net	$246,120	$406,963	$432,035	$429,266
Goodwill	$2,631,465	$2,868,068	$2,897,522	$2,898,463
Finite-Lived Intangible Assets, Net	$203,135	$334,301	$313,234	$290,513
Bank Owned Life Insurance	$1,247,938	$1,251,622	$1,271,457	$1,300,458
Other Assets	$1,890,088	$2,157,459	$2,286,079	$2,240,677
Assets	$74,945,249	$79,025,073	$84,073,663	$85,948,639
Noninterest-bearing Deposit Liabilities	$10,732,516	$10,316,501	$10,082,854	$9,999,855
Interest-bearing Deposit Liabilities	$50,051,768	$54,436,579	$58,676,959	$60,283,598
Deposits	$60,784,284	$64,753,080	$68,759,813	$70,283,453
Federal Funds Purchased and Securities Sold under Agreements to Repurchase	$458,387	$344,168	$596,738	$596,738
Advances from Federal Home Loan Banks	$2,360,018	$2,110,108	$2,980,718	$3,661,246
Long-term Debt	$1,048,820	$909,185	$739,454	$737,171
Other Accrued Liabilities	$1,603,744	$1,775,318	$1,504,704	$1,432,625
Liabilities	$66,255,253	$69,891,859	$74,581,427	$76,187,890
Common Stock, Value, Issued	$1,828	$1,828	$1,828	$1,828
Additional Paid in Capital	$6,179,753	$6,181,475	$6,183,434	$6,150,308
Retained Earnings (Accumulated Deficit)	$3,282,530	$3,759,158	$4,477,744	$4,842,778
Treasury Stock, Common, Value	—	$536,843	$1,103,905	$1,103,905
Accumulated Other Comprehensive Income (Loss), Net of Tax	$-550,571	$-556,383	$-350,844	$-447,719
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$8,689,996	$9,133,214	$9,492,236	$9,760,749
DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest	—	$171	$97	$70
Preferred Stock, Shares Authorized	3,000,000	3,000,000	3,000,000	3,000,000
Common Stock, Shares Authorized	400,000,000	400,000,000	400,000,000	400,000,000
Common Stock, Shares, Issued	182,778,045	182,778,045	182,778,045	182,778,045
Common Stock, Shares, Outstanding	172,021,956	171,391,125	161,216,008	162,034,478
Treasury Stock, Common, Shares	10,756,089	11,386,920	21,562,037	20,743,567
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss	$9,668,422	$9,720,415	$10,466,978	$11,175,942
Debt Securities, Held-to-maturity, Fair Value	$6,264,623	$7,453,123	$7,168,583	$6,809,865
Loans Held-for-sale, Fair Value Disclosure	$2,610	$297	$2,142	$444
Interest Income (Expense), Net	$2,337,269	$2,338,387	$2,497,894	$1,267,147
Noninterest Income	$314,337	$251,899	$401,519	$208,710
Revenues	—	$2,590,286	$2,899,413	$1,475,857
Labor and Related Expense	$711,752	$762,794	$821,748	$447,220
Occupancy, Net	$77,520	$72,161	$77,416	$39,235
Equipment Expense	$197,928	$195,017	$190,614	$100,135
Marketing Expense	$18,622	$18,751	$20,978	$9,902
Operating Income (Loss)	$1,235,251	$1,239,007	$1,470,149	$711,786
Provision for Loan, Lease, and Other Losses	$150,747	$222,000	$210,000	$85,500
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	$1,084,504	$1,017,007	$1,260,149	$626,286
Debt Securities, Available-for-sale, Realized Gain (Loss)	$-33,620	$-136,224	$220	$0
Amortization of Intangible Assets	$36,207	$36,082	$36,304	$18,191
Unused Commitments to Extend Credit	$12,563,441	$12,237,964	$13,176,616	$13,252,112
Other Receivables	—	$150,000	$150,000	$150,000
Stockholders' Equity Attributable to Parent	—	—	$9,492,236	$9,760,749

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$875,852	$358,639	$375,091	$-271,492
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$1,715,795	$2,074,434	$2,449,525	$2,797,413
Net Income (Loss) Attributable to Parent	$867,840	$768,707	$1,002,802	$1,020,057
Net Cash Provided by (Used in) Operating Activities	$978,649	$1,404,300	$1,058,136	$1,366,865
Payments to Acquire Debt Securities, Available-for-sale	$2,372,249	$3,202,766	$1,990,902	$2,263,258
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale	$591,207	$892,965	$1,292,532	$1,333,861
Proceeds from Sale of Debt Securities, Available-for-sale	$789,603	$2,142,462	$14,880	$0
Payments to Acquire Held-to-maturity Securities	$891,761	$1,778,098	$0	$0
Proceeds from Maturities, Prepayments and Calls of Held-to-maturity Securities	$390,073	$457,433	$538,566	$551,060
Payments for (Proceeds from) Federal Home Loan Bank Stock	$-119,018	$-5,539	$35,068	$18,102
Payments for (Proceeds from) Other Investing Activities	$27,430	$160,062	$293,451	$292,765
Proceeds from Sale of Other Investments	—	$19,588	$13,441	$10,880
Payments for (Proceeds from) Other Loans and Leases	$1,653,257	$2,488,796	$4,632,549	$4,441,730
Proceeds of Other Loans and Leases Held-for-investment	$625,968	$569,538	$400,017	$348,881
Proceeds from Sale of Mortgage Servicing Rights (MSR)	—	$18,588	$0	$564
Proceeds from Sale of Foreclosed Assets	$4,033	$8,526	$2,055	$3,510
Proceeds from Sale of Property, Plant, and Equipment	$6,894	$6,769	$4,337	$3,637
Payments to Acquire Property, Plant, and Equipment	$40,303	$35,844	$49,566	$52,968
Proceeds from Life Insurance Policy	$20,098	$34,358	$18,574	$16,703
Net Cash Provided by (Used in) Investing Activities	$-2,595,752	$-3,869,260	$-4,747,963	$-4,833,953
Increase (Decrease) in Deposits	$6,721,028	$3,697,887	$4,006,261	$3,969,476
Increase (Decrease) in Federal Funds Purchased and Securities Sold under Agreements to Repurchase, Net	$-693,443	$-114,219	$252,570	$-299,411
Repayments of Other Long-term Debt	$16,752	$132,550	$499,000	$499,000
Proceeds from Issuance of Other Long-term Debt	—	—	$347,389	$347,389
Payments of Debt Issuance Costs	—	—	$1,636	$1,636
Payment for Contingent Consideration Liability, Financing Activities	—	$4,050	$11,447	$206
Payments of Ordinary Dividends, Common Stock	$278,155	$274,545	$266,830	$260,296
Payments of Ordinary Dividends, Preferred Stock and Preference Stock	$16,650	$16,650	$16,650	$16,650
Proceeds from Stock Options Exercised	$1,723	$254	$67	$67
Payments for Repurchase of Common Stock	$107,984	$65,403	$593,654	$334,053
Net Cash Provided by (Used in) Financing Activities	$2,492,955	$2,823,599	$4,064,918	$3,195,596
Provision for Loan, Lease, and Other Losses	$150,747	$222,000	$210,000	$171,500
Deferred Income Tax Expense (Benefit)	$-53,634	$18,183	$47,588	$35,176
Share-based Payment Arrangement, Noncash Expense	$54,087	$55,141	$56,823	$58,889
Depreciation, Amortization and Accretion, Net	$76,490	$71,531	$73,346	$76,911
Accretion (Amortization) of Discounts and Premiums, Investments	$23,267	$95,281	$165,552	$148,420
Amortization Method Qualified Affordable Housing Project Investments, Amortization	$71,775	$80,902	$115,274	$126,005
Increase (Decrease) in Leasing Receivables	$-30,616	$-31,275	$-29,960	$-29,534
Debt Securities, Available-for-sale, Realized Gain (Loss)	$-33,620	$-136,224	$220	$0
Payments for Origination of Mortgage Loans Held-for-sale	$13,319	$6,806	$9,843	$12,607
Proceeds from Sale of Loans Held-for-sale	$13,882	$8,310	$8,068	$12,331
Life Insurance, Corporate or Bank Owned, Change in Value	$26,228	$27,712	$33,219	$35,948
Bank Owned Life Insurance Income	$3,566	$14,065	$4,777	$6,884
Gain (Loss) on Extinguishment of Debt	—	—	$9,767	$9,767
Gain on Sale of Investments	—	$14,763	$8,806	$6,805
Other Operating Activities, Cash Flow Statement	—	$-15,998	$-16,042	$-11,761
Increase (Decrease) in Derivative Assets and Liabilities	$73,295	$-20,526	$185,003	$-46,450
Increase (Decrease) in Other Operating Assets	$13,774	$-246,752	$-37,177	$-82,890
Increase (Decrease) in Other Accounts Payable and Accrued Liabilities	$-116,085	$-35,382	$-89,676	$-60,689
Transfer to Investments	—	—	$8,034	$8,034

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Import this data to Google Sheets with:

=jivedata("WBS","financials")

Full statements spill as a table. For one cell: =jivedata("WBS","Revenue") or =jivedata("WBS","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.