Form 8-K

8-K — WEBSTER FINANCIAL CORP

Accession: 0000801337-26-000021

Filed: 2026-07-21

Period: 2026-07-21

CIK: 0000801337

SIC: 6021 (NATIONAL COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — wbs-20260721.htm (Primary)

EX-99.1 (exhibit991earningsrelease2.htm)

GRAPHIC (brn25-eheader_2550x384xexta.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: wbs-20260721.htm · Sequence: 1

wbs-20260721

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________________

FORM 8-K

_________________________

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 21, 2026

_________________________

WEBSTER FINANCIAL CORPORATION

_________________________________________

(Exact name of registrant as specified in its charter)

Delaware 001-31486 06-1187536

(State or other jurisdiction

of incorporation) (Commission

File Number) (IRS Employer

Identification No.)

200 Elm Street, Stamford, Connecticut 06902

(Address and zip code of principal executive offices)

203-578-2202

(Registrant’s telephone number, including area code)

______________________________________________________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbols Name of each exchange on which registered

Common Stock, par value $0.01 per share WBS New York Stock Exchange

Depositary Shares, each representing 1/1000th interest in a share of 5.25% Series F Non-Cumulative Perpetual Preferred Stock WBS-PrF New York Stock Exchange

Depositary Shares, each representing 1/40th interest in a share of 6.50% Series G Non-Cumulative Perpetual Preferred Stock WBS-PrG New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On July 21, 2026, Webster Financial Corporation (the Company) issued a press release reporting its results of operations for the quarter ended June 30, 2026. That press release is attached hereto as Exhibit 99.1.

Information contained herein, including Exhibit 99.1, shall not be deemed filed for the purposes of the Securities Exchange Act of 1934, nor shall such information or Exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such a filing.

Due to the proposed transaction with Banco Santander, S.A., the Company will not conduct an earnings conference call or webcast.

Item 9.01 Financial Statements and Exhibits

(d)Exhibits.

Exhibit

Number Description

99.1

Press release dated July 21, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

WEBSTER FINANCIAL CORPORATION

(Registrant)

Date: July 21, 2026 /s/ Kristen Antonopoulos

Kristen Antonopoulos

Chief Accounting Officer

EX-99.1

Filename: exhibit991earningsrelease2.htm · Sequence: 2

Document

Exhibit 99.1

WEBSTER REPORTS

SECOND QUARTER 2026 EPS OF $1.56; ADJUSTED EPS OF $1.60

STAMFORD, Conn., July 21, 2026 - Webster Financial Corporation (“Webster”) (NYSE: WBS), the holding company for Webster Bank, N.A., today announced net income applicable to common stockholders of $249.4 million, or $1.56 per diluted share, for the quarter ended June 30, 2026, compared to $251.7 million, or $1.52 per diluted share, for the quarter ended June 30, 2025.

Second quarter 2026 results include Transaction expenses. Excluding this item, adjusted earnings per diluted share would have been $1.601 for the quarter ended June 30, 2026.

On February 3, 2026, Webster entered into a transaction agreement with Banco Santander, S.A. (“Banco Santander”), under which Banco Santander will acquire Webster in a cash and stock transaction (the “Transaction”).

The Transaction was approved by Webster’s stockholders on May 26, 2026, the Office of the Comptroller of the Currency on June 12, 2026 and the European Central Bank on July 21, 2026. The Transaction remains subject to customary closing conditions, including the approval of the Board of Governors of the Federal Reserve System. The Transaction is expected to close in the second half of 2026.

Under the terms of the transaction agreement, Webster’s common stockholders will receive $48.75 in cash and 2.0548 Banco Santander ordinary shares, which will be delivered in the form of American Depository Receipts, for each Webster share. In light of the proposed Transaction with Banco Santander, Webster will no longer provide a forward-looking financial outlook.

“Webster continued to generate impressive financial results this quarter,” said John R. Ciulla, Chairman and Chief Executive Officer. “Our execution is commendable, in that our colleagues continue to deliver for our clients while they also prepare to integrate our proposed Transaction with Banco Santander.”

Highlights for the second quarter of 2026:

•Revenue2 of $740.0 million

•Loans and leases balance of $57.9 billion, up $0.6 billion, or 1.1 percent from prior quarter

•Deposits balance of $70.3 billion, up $1.2 billion, or 1.8 percent, from prior quarter

•Provision for credit losses of $31.5 million

•Return on average assets of 1.19 percent

•Return on average tangible common stockholders’ equity of 16.67 percent1

•Net interest margin of 3.26 percent

•Common equity tier 1 ratio of 11.69 percent3

•Efficiency ratio of 47.74 percent1

•Tangible common equity ratio of 7.60 percent1

1 See “Non-GAAP to GAAP Reconciliations” section beginning on page 12.

2 Total revenue reflects the sum of Net interest income and Non-interest income.

3 Presented as preliminary for June 30, 2026.

“Our returns and growth affirm the quality of Webster’s banking franchise,” said Neal Holland, Senior Executive Vice President and Chief Financial Officer. “Our operating position has only grown stronger, as capital levels increased, loans grew in categories with appealing risk characteristics, and non-performing assets declined significantly.”

Consolidated financial performance compared to the second quarter of 2025:

Net interest income:

•Net interest income was $632.7 million, compared to $621.2 million.

•Net interest margin was 3.26 percent, compared to 3.44 percent.

•Average interest-earning assets totaled $79.8 billion, an increase of $5.8 billion, or 7.9 percent. The average yield on interest-earning assets decreased by 32 basis points.

•Average deposits and interest-bearing liabilities totaled $75.3 billion, an increase of $5.7 billion, or 8.1 percent. The average cost of deposits and interest-bearing liabilities decreased by 16 basis points.

Provision for credit losses:

•The provision for credit losses was $31.5 million, compared to $46.5 million.

•Net charge-offs were $42.7 million, compared to $36.4 million. The ratio of net charge-offs to average loans and leases was 0.30 percent, compared to 0.27 percent.

•The allowance for credit losses on loans and leases represented 1.25 percent of total loans and leases, compared to 1.35 percent.

•The allowance for credit losses on loans and leases represented 169 percent of non-performing loans and leases, compared to 135 percent.

Non-interest income:

•Total non-interest income was $107.2 million, compared to $94.7 million. The $12.5 million increase was primarily driven by other miscellaneous income and higher loan and lease related fees.

Non-interest expense:

•Total non-interest expense was $385.0 million, compared to $345.7 million. The $39.3 million increase was primarily driven by higher compensation and benefit costs and $8.7 million of Transaction expenses incurred during the quarter ended June 30, 2026.

Income taxes:

•Income tax expense was $66.7 million, compared to $64.8 million, and the effective tax rate was 20.6 percent, compared to 20.0 percent. Both the higher income tax expense and the effective tax rate for the quarter ended June 30, 2026, primarily reflected the recognition of $1.2 million of net discrete tax benefits in the current period, compared to $3.9 million a year ago.

Investment securities:

•Investment securities totaled $18.3 billion, an increase of $0.5 billion, or 2.7 percent. The carrying value at June 30, 2026, included $0.6 billion of net unrealized losses on the available-for-sale securities portfolio and excluded $0.9 billion of net unrealized losses on the held-to-maturity securities portfolio.

Loans and leases:

•Loans and leases totaled $57.9 billion, an increase of $4.2 billion, or 7.8 percent. Commercial loans and leases increased by $2.4 billion, commercial real estate loans increased by $1.4 billion, residential mortgages increased by $0.3 billion, and consumer loans increased by $0.1 billion.

•Loan originations for the portfolio were $3.5 billion, compared to $3.8 billion.

Asset quality:

•Non-performing loans and leases were $429.0 million, a decrease of $105.5 million, or 19.7 percent. The decrease was primarily driven by commercial non-mortgage and commercial real estate. The ratio of non-performing loans and leases to total loans and leases was 0.74 percent, compared to 1.00 percent.

•Past due loans and leases were $117.3 million, an increase of $62.6 million, or 114.3 percent. The increase was primarily driven by commercial real estate.

Deposits and borrowings:

•Deposits totaled $70.3 billion, an increase of $4.0 billion, or 6.0 percent. The increase was primarily driven by interest-bearing checking and money market. The ratio of core deposits to total deposits1 remained flat at 88.1 percent. The loan to deposit ratio was 82.3 percent, compared to 80.9 percent.

•Borrowings totaled $4.5 billion, a decrease of $0.1 billion, or 3.2 percent.

Capital:

•The return on average common stockholders’ equity and the return on average tangible common stockholders’ equity1 were 10.73 percent and 16.67 percent, respectively, compared to 11.31 percent and 17.96 percent, respectively.

•The tangible equity1 and tangible common equity1 ratios were 7.94 percent and 7.60 percent, respectively, compared to 7.82 percent and 7.46 percent, respectively.

•The common equity tier 1 ratio2 was 11.69 percent, compared to 11.35 percent.

•Book value per common share and tangible book value per common share1 were $58.49 and $38.81, respectively, compared to $54.19 and $35.13, respectively.

1 See “Non-GAAP to GAAP Reconciliations” section beginning on page 12.

2 Presented as preliminary for June 30, 2026, and actual for the remaining periods.

***

Webster Financial Corporation (“Webster”) (NYSE:WBS) is the holding company for Webster Bank, N.A. (“Webster Bank”). Headquartered in Stamford, CT, Webster is a values-driven organization with approximately $86 billion in total consolidated assets. Webster Bank is a commercial bank that provides a wide range of financial products and services to businesses, individuals, and families across three differentiated lines of business: Commercial Banking, Healthcare Financial Services, and Consumer Banking. While its core footprint spans the Northeast from the New York metropolitan area to Rhode Island and Massachusetts, certain businesses operate in extended geographies. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.

Media Contact

Alice Ferreira, 203-578-2610

acferreira@websterbank.com

Investor Contact

Emlen Harmon, 212-309-7646

eharmon@websterbank.com

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements” within the meaning of, and subject to the protections of, the Private Securities Litigation Reform Act of 1995. Factors that could cause Webster’s actual results to differ from those described in the forward-looking statements are described in Webster’s Annual Report on Form 10-K for the year ended December 31, 2025, as amended, and in Webster’s subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statement made by Webster in this release speaks only as of the date on which it is made. Factors or events that could cause Webster’s actual results to differ may emerge from time to time, and it is not possible for Webster to predict all of them. Webster undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Non-GAAP Financial Measures

In addition to results presented in accordance with GAAP, this press release contains certain non-GAAP financial measures, including the efficiency ratio, the return on average tangible common stockholders’ equity, the tangible equity ratio, the tangible common equity ratio, tangible book value per common share, core deposits, adjusted return on average assets, adjusted return on average tangible common stockholders’ equity, adjusted pre-tax net income, adjusted net income applicable to common stockholders, and adjusted diluted earnings per share (“EPS”). A reconciliation of each non-GAAP financial measure to the most comparable GAAP financial measure is included in the accompanying selected financial highlights table.

Webster believes that certain non-GAAP financial measures provide investors with information useful in understanding its financial position, results of operations, the strength of its capital position, and overall business performance. These non-GAAP financial measures are used by Webster for performance measurement purposes, as well as for internal planning and forecasting, and by securities analysts, investors, and other interested parties to assess peer company operating performance. Webster believes that this presentation, together with the accompanying reconciliations, provides investors with a more complete understanding of the factors and trends affecting its business and allows investors to view its performance in a manner similar to management.

The efficiency ratio represents the costs expended to generate a dollar of revenue and is calculated excluding certain non-operational items and certain non-recurring transactions or events. The return on average tangible common stockholders’ equity is calculated using net income less preferred stock dividends, adjusted for the tax-effected amortization of intangible assets, as a percentage of average stockholders’ equity less average preferred stock and average goodwill and other intangible assets. The tangible equity ratio represents stockholders’ equity less goodwill and other intangible assets (“tangible stockholders’ equity”) divided by total assets less goodwill and other intangible assets (“tangible assets”). The tangible common equity ratio represents stockholders’ equity less preferred stock and goodwill and other intangible assets (“tangible common stockholders’ equity”) divided by tangible assets. Tangible book value per common share represents tangible common stockholders’ equity divided by the number of common shares outstanding at the end of the reporting period. Core deposits reflect total deposits less certificates of deposit and brokered certificates of deposit. The adjusted return on average assets, adjusted return on average tangible common stockholders’ equity, adjusted pre-tax net income, adjusted net income applicable to common stockholders, and adjusted diluted EPS are calculated excluding certain non-recurring transactions or events, which have been tax-effected, as applicable.

These non-GAAP financial measures should not be considered a substitute for GAAP-basis financial measures. Because non-GAAP financial measures are not standardized, it may not be possible to compare these with other companies that present financial measures having the same or similar names. Webster strongly encourages investors to review its consolidated financial statements in their entirety and to not rely on any single financial measure. Refer the tables beginning on page 12 for Non-GAAP to GAAP reconciliations.

NO OFFER OR SOLICITATION

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the “Securities Act”). By making this communication available, no advice or recommendation is being given to buy, sell or otherwise deal in any securities or investments whatsoever.

WEBSTER FINANCIAL CORPORATION

Selected Financial Highlights

Three Months Ended

(In thousands, except per share and ratio data) June 30,

2026 March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025

Income and performance ratios:

Net income $ 256,789 $ 246,231 $ 255,820 $ 261,217 $ 258,848

Net income applicable to common stockholders 249,442 239,274 248,701 254,051 251,695

Earnings per common share - diluted 1.56 1.50 1.55 1.54 1.52

Return on average assets (annualized) 1.19 % 1.16 % 1.23 % 1.27 % 1.29 %

Return on average tangible common stockholders' equity (annualized) (1)

16.67 16.18 17.10 17.64 17.96

Return on average common stockholders’ equity (annualized) 10.73 10.35 10.91 11.23 11.31

Non-interest income as a percentage of total revenue (2)

14.49 13.79 15.19 13.77 13.22

Asset quality:

Allowance for credit losses on loans and leases $ 723,846 $ 733,434 $ 719,411 $ 727,897 $ 722,046

Non-performing assets 430,174 524,418 502,156 545,327 537,050

Allowance for credit losses on loans and leases / total loans and leases 1.25 % 1.28 % 1.27 % 1.32 % 1.35 %

Net charge-offs / average loans and leases (annualized) 0.30 0.29 0.35 0.28 0.27

Non-performing loans and leases / total loans and leases 0.74 0.91 0.88 0.99 1.00

Non-performing assets / total loans and leases plus other real estate owned and repossessed assets 0.74 0.92 0.89 0.99 1.00

Allowance for credit losses on loans and leases / non-performing loans and leases 168.72 140.36 143.69 133.82 135.08

Other ratios:

Tangible equity (1)

7.94 % 7.74 % 7.77 % 7.86 % 7.82 %

Tangible common equity (1)

7.60 7.39 7.42 7.50 7.46

Tier 1 Risk-Based Capital (3)

12.17 11.91 11.69 11.89 11.86

Total Risk-Based Capital (3)

14.13 13.89 13.67 14.68 14.05

Common equity tier 1 Risk-Based Capital (3)

11.69 11.42 11.20 11.39 11.35

Stockholders’ equity / total assets

11.36 11.19 11.29 11.37 11.40

Net interest margin 3.26 3.36 3.35 3.40 3.44

Efficiency ratio (1)

47.74 46.83 46.95 45.79 45.40

Equity and share related:

Common stockholders’ equity $ 9,476,770 $ 9,289,670 $ 9,208,257 $ 9,178,698 $ 9,053,638

Book value per common share 58.49 57.33 57.12 55.69 54.19

Tangible book value per common share (1)

38.81 37.59 37.20 36.42 35.13

Common stock closing price 76.42 69.42 62.94 59.44 54.60

Dividends and equivalents declared per common share 0.40 0.40 0.40 0.40 0.40

Common shares outstanding 162,034 162,049 161,216 164,817 167,083

Weighted-average common shares outstanding - basic 159,989 159,534 160,261 164,138 165,884

Weighted-average common shares - diluted 160,183 159,850 160,597 164,456 166,131

(1)See “Non-GAAP to GAAP Reconciliations” section beginning on page 12.

(2)Total revenue reflects the sum of Net interest income and Non-interest income.

(3)Presented as preliminary for June 30, 2026, and actual for the remaining periods.

WEBSTER FINANCIAL CORPORATION

Five Quarter Consolidated Balance Sheets

(In thousands) June 30,

2026 March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025

Assets:

Cash and due from banks $ 375,357 $ 353,234 $ 370,748 $ 498,801 $ 425,349

Interest-bearing deposits 2,347,070 2,506,930 2,078,777 2,563,680 2,568,570

Investment securities:

Available-for-sale 10,600,328 10,581,263 10,009,500 9,932,344 9,620,354

Held-to-maturity, net 7,694,979 7,838,979 7,969,575 8,077,505 8,192,720

Total investment securities, net 18,295,307 18,420,242 17,979,075 18,009,849 17,813,074

Loans held for sale 13,189 14,478 14,886 75,386 278,409

Loans and leases:

Commercial 23,738,961 23,288,371 22,895,350 21,912,809 21,293,103

Commercial real estate 22,793,088 22,569,080 22,334,846 21,911,298 21,358,775

Residential mortgages 9,600,445 9,600,026 9,599,577 9,509,142 9,332,413

Consumer 1,736,184 1,791,065 1,767,337 1,718,832 1,687,668

Total loans and leases 57,868,678 57,248,542 56,597,110 55,052,081 53,671,959

Allowance for credit losses on loans and leases (723,846) (733,434) (719,411) (727,897) (722,046)

Total loans and leases, net 57,144,832 56,515,108 55,877,699 54,324,184 52,949,913

Federal Home Loan Bank and Federal Reserve Bank stock 388,374 431,395 356,411 340,231 370,272

Deferred tax assets, net 225,133 186,604 195,740 220,972 252,442

Premises and equipment, net 429,266 428,182 432,035 427,215 422,774

Goodwill and other intangible assets, net 3,188,976 3,197,981 3,210,756 3,175,747 3,184,039

Cash surrender value of life insurance policies 1,300,458 1,292,770 1,271,457 1,266,491 1,262,311

Accrued interest receivable and other assets 2,240,677 2,237,664 2,286,079 2,290,096 2,387,117

Total assets $ 85,948,639 $ 85,584,588 $ 84,073,663 $ 83,192,652 $ 81,914,270

Liabilities and Stockholders’ Equity:

Deposits:

Demand $ 9,999,855 $ 9,847,077 $ 10,082,854 $ 10,491,975 $ 10,345,761

Interest-bearing checking 12,415,546 11,932,682 10,760,496 10,723,584 9,933,392

Health savings accounts 9,252,869 9,446,895 9,184,452 9,135,425 9,064,935

Money market 23,549,222 24,332,087 23,196,747 23,188,134 21,679,493

Savings 6,703,712 6,841,135 6,964,946 7,060,713 7,370,959

Certificates of deposit 6,165,975 5,848,150 6,078,549 6,202,906 6,069,447

Brokered certificates of deposit 2,196,274 791,690 2,491,769 1,372,907 1,850,438

Total deposits 70,283,453 69,039,716 68,759,813 68,175,644 66,314,425

Securities sold under agreements to repurchase 73,395 69,756 596,738 101,717 372,806

Federal Home Loan Bank advances 3,661,246 4,810,619 2,980,718 2,560,817 3,339,914

Long-term debt 737,171 738,312 739,454 1,249,612 905,634

Accrued expenses and other liabilities 1,432,625 1,352,536 1,504,704 1,642,185 1,643,874

Total liabilities 76,187,890 76,010,939 74,581,427 73,729,975 72,576,653

Preferred stock 283,979 283,979 283,979 283,979 283,979

Common stockholders’ equity 9,476,770 9,289,670 9,208,257 9,178,698 9,053,638

Total stockholders’ equity 9,760,749 9,573,649 9,492,236 9,462,677 9,337,617

Total liabilities and stockholders’ equity $ 85,948,639 $ 85,584,588 $ 84,073,663 $ 83,192,652 $ 81,914,270

WEBSTER FINANCIAL CORPORATION

Five Quarter Consolidated Statements of Income

Three Months Ended

(In thousands, except per share data) June 30,

2026 March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025

Interest Income:

Interest and fees on loans and leases $ 784,854 $ 776,610 $ 793,570 $ 794,668 $ 775,203

Interest on investment securities 195,352 193,100 200,024 201,321 197,766

Loans held for sale 2 18 205 3,988 7

Other interest and dividends 33,168 24,551 25,333 28,325 27,611

Total interest income 1,013,376 994,279 1,019,132 1,028,302 1,000,587

Interest Expense:

Deposits 326,869 316,624 344,078 355,504 339,738

Borrowings 53,763 43,252 42,201 41,131 39,667

Total interest expense 380,632 359,876 386,279 396,635 379,405

Net interest income 632,744 634,403 632,853 631,667 621,182

Provision for credit losses 31,500 54,000 42,000 44,000 46,500

Net interest income after provision for credit losses 601,244 580,403 590,853 587,667 574,682

Non-interest Income:

Deposit service fees 42,256 41,515 38,486 39,576 40,934

Loan and lease related fees 20,570 15,414 19,010 16,404 17,657

Wealth and investment services 7,526 7,209 7,775 7,640 7,779

Cash surrender value of life insurance policies 11,249 8,644 8,520 7,535 9,172

Other income 25,646 28,681 39,559 29,751 19,115

Total non-interest income 107,247 101,463 113,350 100,906 94,657

Non-interest Expense:

Compensation and benefits 224,314 222,906 214,137 209,036 199,930

Occupancy 19,749 19,486 19,359 19,003 19,337

Technology and equipment 50,504 49,631 49,443 47,520 45,932

Intangible assets amortization 9,005 9,186 9,008 8,966 9,093

Marketing 5,203 4,699 6,827 4,953 5,171

Professional and outside services 21,146 22,542 21,767 17,815 18,394

Deposit insurance 18,185 16,300 3,979 15,621 15,061

Other expense 36,856 34,359 58,717 33,755 32,796

Total non-interest expense 384,962 379,109 383,237 356,669 345,714

Income before income taxes 323,529 302,757 320,966 331,904 323,625

Income tax expense 66,740 56,526 65,146 70,687 64,777

Net income 256,789 246,231 255,820 261,217 258,848

Preferred stock dividends (4,162) (4,163) (4,163) (4,162) (4,162)

Income allocated to participating securities (3,185) (2,794) (2,956) (3,004) (2,991)

Net income applicable to common stockholders $ 249,442 $ 239,274 $ 248,701 $ 254,051 $ 251,695

Weighted-average common shares outstanding - basic 159,989 159,534 160,261 164,138 165,884

Weighted-average common shares - diluted 160,183 159,850 160,597 164,456 166,131

Earnings per Common Share:

Basic $ 1.56 $ 1.50 $ 1.55 $ 1.55 $ 1.52

Diluted 1.56 1.50 1.55 1.54 1.52

WEBSTER FINANCIAL CORPORATION

Consolidated Average Balances, Interest, Average Yields/Rates, and Net Interest Margin on a Fully Tax-equivalent Basis

Three Months Ended June 30,

2026 2025

(Dollars in thousands) Average

Balance Interest Income/Expense Average Yield/Rate Average

Balance Interest Income/Expense Average Yield/Rate

Assets:

Interest-earning assets:

Loans and leases $ 57,557,975 $ 798,650 5.50 % $ 53,277,897 $ 786,808 5.85 %

Investment securities 18,821,677 198,182 4.21 18,225,632 200,031 4.39

Federal Home Loan and Federal Reserve Bank stock 429,937 5,283 4.93 346,514 4,243 4.91

Interest-bearing deposits 3,024,245 27,885 3.65 2,096,578 23,368 4.41

Loans held for sale 12,939 2 0.07 58,024 7 0.04

Total interest-earning assets 79,846,773 $ 1,030,002 5.12 % 74,004,645 $ 1,014,457 5.44 %

Non-interest-earning assets 6,514,306 6,513,526

Total assets $ 86,361,079 $ 80,518,171

Liabilities and Stockholders’ Equity:

Interest-bearing liabilities:

Demand $ 9,962,207 $ — — % $ 10,109,928 $ — — %

Interest-bearing checking 12,116,284 53,150 1.76 9,772,340 42,390 1.74

Health savings accounts 9,367,769 3,966 0.17 9,137,704 3,635 0.16

Money market 23,954,940 184,047 3.08 21,645,531 190,853 3.54

Savings 6,755,888 23,292 1.38 7,462,151 31,624 1.70

Certificates of deposit 6,015,621 46,584 3.11 6,061,399 51,873 3.43

Brokered certificates of deposit 1,624,580 15,830 3.91 1,774,379 19,363 4.38

Total deposits 69,797,289 326,869 1.88 65,963,432 339,738 2.07

Securities sold under agreements to repurchase 68,416 20 0.12 111,005 218 0.78

Federal Home Loan Bank advances 4,683,241 45,400 3.84 2,650,111 29,825 4.45

Long-term debt 722,347 8,343 4.62 885,773 9,624 4.35

Total borrowings 5,474,004 53,763 3.89 3,646,889 39,667 4.31

Total deposits and interest-bearing liabilities 75,271,293 $ 380,632 2.02 % 69,610,321 $ 379,405 2.18 %

Non-interest-bearing liabilities 1,391,470 1,613,827

Total liabilities 76,662,763 71,224,148

Preferred stock 283,979 283,979

Common stockholders’ equity 9,414,337 9,010,044

Total stockholders’ equity 9,698,316 9,294,023

Total liabilities and stockholders’ equity $ 86,361,079 $ 80,518,171

Tax-equivalent net interest income 649,370 635,052

Less: Tax-equivalent adjustments (16,626) (13,870)

Net interest income $ 632,744 $ 621,182

Net interest margin 3.26 % 3.44 %

WEBSTER FINANCIAL CORPORATION Five Quarter Loans and Leases

(In thousands) June 30,

2026 March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025

Loans and leases:

Commercial non-mortgage $ 22,702,138 $ 22,169,383 $ 21,664,119 $ 20,654,331 $ 19,943,097

Asset-based lending 1,036,823 1,118,988 1,231,231 1,258,478 1,350,006

Commercial real estate 22,793,088 22,569,080 22,334,846 21,911,298 21,358,775

Residential mortgages 9,600,445 9,600,026 9,599,577 9,509,142 9,332,413

Consumer 1,736,184 1,791,065 1,767,337 1,718,832 1,687,668

Total loans and leases 57,868,678 57,248,542 56,597,110 55,052,081 53,671,959

Allowance for credit losses on loans and leases (723,846) (733,434) (719,411) (727,897) (722,046)

Total loans and leases, net $ 57,144,832 $ 56,515,108 $ 55,877,699 $ 54,324,184 $ 52,949,913

Average loans and leases:

Commercial non-mortgage $ 22,464,776 $ 21,947,141 $ 21,244,671 $ 20,451,639 $ 19,703,434

Asset-based lending 1,083,842 1,171,324 1,259,776 1,289,208 1,360,288

Commercial real estate 22,623,171 22,571,488 22,082,606 21,508,546 21,302,161

Residential mortgages 9,617,402 9,634,148 9,584,853 9,416,499 9,228,988

Consumer 1,768,784 1,781,991 1,751,232 1,707,068 1,683,026

Total average loans and leases $ 57,557,975 $ 57,106,092 $ 55,923,138 $ 54,372,960 $ 53,277,897

WEBSTER FINANCIAL CORPORATION

Five Quarter Non-performing Assets and Past Due Loans and Leases

(In thousands) June 30,

2026 March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025

Non-performing loans and leases:

Commercial non-mortgage $ 180,513 $ 193,936 $ 174,073 $ 223,398 $ 231,458

Asset-based lending 34,342 60,471 66,911 58,797 44,405

Commercial real estate 176,010 231,353 224,623 227,118 224,554

Residential mortgages 18,974 20,127 17,889 16,843 15,748

Consumer 19,184 16,662 17,188 17,772 18,357

Total non-performing loans and leases $ 429,023 $ 522,549 $ 500,684 $ 543,928 $ 534,522

Other real estate owned and repossessed assets:

Commercial non-mortgage $ 566 $ 1,284 $ 1,082 $ 1,399 $ 2,528

Residential mortgages 195 195 — — —

Consumer 390 390 390 — —

Total other real estate owned and repossessed assets $ 1,151 $ 1,869 $ 1,472 $ 1,399 $ 2,528

Total non-performing assets $ 430,174 $ 524,418 $ 502,156 $ 545,327 $ 537,050

Past due 30-89 days:

Commercial non-mortgage $ 8,926 $ 26,812 $ 16,428 $ 10,934 $ 16,338

Commercial real estate 71,734 89,105 24,962 27,812 16,241

Residential mortgages 25,054 21,790 15,194 17,000 12,664

Consumer 11,623 11,122 9,902 8,730 9,516

Total past due 30-89 days $ 117,337 $ 148,829 $ 66,486 $ 64,476 $ 54,759

Past due 90 days or more and accruing 3 9 — 1,152 —

Total past due loans and leases $ 117,340 $ 148,838 $ 66,486 $ 65,628 $ 54,759

Five Quarter Change in the Allowance for Credit Losses on Loans and Leases

Three Months Ended

(In thousands) June 30,

2026 March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025

ACL on loans and leases, beginning balance $ 733,434 $ 719,411 $ 727,897 $ 722,046 $ 713,321

Provision 33,110 55,239 41,005 44,205 45,126

Charge-offs:

Commercial portfolio 40,896 40,225 48,492 37,914 39,792

Consumer portfolio 4,098 3,997 2,994 2,034 1,446

Total charge-offs 44,994 44,222 51,486 39,948 41,238

Recoveries:

Commercial portfolio 1,055 1,017 556 765 3,250

Consumer portfolio 1,241 1,989 1,439 829 1,587

Total recoveries 2,296 3,006 1,995 1,594 4,837

Total net charge-offs 42,698 41,216 49,491 38,354 36,401

ACL on loans and leases, ending balance $ 723,846 $ 733,434 $ 719,411 $ 727,897 $ 722,046

ACL on unfunded loan commitments $ 21,295 $ 22,879 $ 24,117 $ 23,117 $ 22,824

WEBSTER FINANCIAL CORPORATION

Non-GAAP to GAAP Reconciliations

Three Months Ended

(In thousands, except ratio data) June 30,

2026 March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025

Efficiency ratio:

Non-interest expense $ 384,962 $ 379,109 $ 383,237 $ 356,669 $ 345,714

Less: Foreclosed property activity 34 43 (577) 1,535 541

Intangible assets amortization 9,005 9,186 9,008 8,966 9,093

Operating lease depreciation — — — 3 9

Charitable contribution to the Webster Foundation — — 20,000 — —

Asset disposal and contract termination costs — — 6,966 — —

Acquisition-related expenses (1)

8,725 9,145 1,129 — —

Strategic restructuring costs (2)

— 3,636 — — —

FDIC special assessment — (684) (10,318) — —

Adjusted non-interest expense $ 367,198 $ 357,783 $ 357,029 $ 346,165 $ 336,071

Net interest income $ 632,744 $ 634,403 $ 632,853 $ 631,667 $ 621,182

Add: Tax-equivalent adjustment 16,626 15,357 14,903 14,258 13,870

Non-interest income 107,247 101,463 113,350 100,906 94,657

Other income (3)

12,617 12,828 9,142 9,234 10,528

Less: Operating lease depreciation — — — 3 9

Gain on redemption of long-term debt — — 9,767 — —

Adjusted income $ 769,234 $ 764,051 $ 760,481 $ 756,062 $ 740,228

Efficiency ratio 47.74% 46.83% 46.95% 45.79% 45.40%

Return on average tangible common stockholders’ equity:

Net income $ 256,789 $ 246,231 $ 255,820 $ 261,217 $ 258,848

Less: Preferred stock dividends 4,162 4,163 4,163 4,162 4,162

Add: Intangible assets amortization, tax-effected 6,545 6,676 6,565 6,534 6,627

Adjusted net income $ 259,172 $ 248,744 $ 258,222 $ 263,589 $ 261,313

Adjusted net income, annualized basis $ 1,036,688 $ 994,976 $ 1,032,888 $ 1,054,356 $ 1,045,252

Average stockholders’ equity $ 9,698,316 $ 9,638,238 $ 9,513,033 $ 9,440,148 $ 9,294,023

Less: Average preferred stock 283,979 283,979 283,979 283,979 283,979

Average goodwill and other intangible assets, net 3,194,100 3,203,998 3,190,386 3,180,111 3,188,946

Average tangible common stockholders’ equity $ 6,220,237 $ 6,150,261 $ 6,038,668 $ 5,976,058 $ 5,821,098

Return on average tangible common stockholders’ equity 16.67% 16.18% 17.10% 17.64% 17.96%

(1)Acquisition-related expenses reflect Transaction expenses for the three months ended June 30, 2026, and March 31, 2026, and SecureSave acquisition expenses for the three months ended December 31, 2025.

(2)Strategic restructuring costs reflect severance charges.

(3)Other income reflects a tax-equivalent adjustment on income generated from low-income housing tax credit investments.

WEBSTER FINANCIAL CORPORATION

Non-GAAP to GAAP Reconciliations

(In thousands, except ratio and per share data) June 30,

2026 March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025

Tangible equity ratio:

Stockholders’ equity $ 9,760,749 $ 9,573,649 $ 9,492,236 $ 9,462,677 $ 9,337,617

Less: Goodwill and other intangible assets, net 3,188,976 3,197,981 3,210,756 3,175,747 3,184,039

Tangible stockholders’ equity $ 6,571,773 $ 6,375,668 $ 6,281,480 $ 6,286,930 $ 6,153,578

Total assets $ 85,948,639 $ 85,584,588 $ 84,073,663 $ 83,192,652 $ 81,914,270

Less: Goodwill and other intangible assets, net 3,188,976 3,197,981 3,210,756 3,175,747 3,184,039

Tangible assets $ 82,759,663 $ 82,386,607 $ 80,862,907 $ 80,016,905 $ 78,730,231

Tangible equity ratio 7.94% 7.74% 7.77% 7.86% 7.82%

Tangible common equity ratio:

Tangible stockholders’ equity $ 6,571,773 $ 6,375,668 $ 6,281,480 $ 6,286,930 $ 6,153,578

Less: Preferred stock 283,979 283,979 283,979 283,979 283,979

Tangible common stockholders’ equity $ 6,287,794 $ 6,091,689 $ 5,997,501 $ 6,002,951 $ 5,869,599

Tangible assets $ 82,759,663 $ 82,386,607 $ 80,862,907 $ 80,016,905 $ 78,730,231

Tangible common equity ratio 7.60% 7.39% 7.42% 7.50% 7.46%

Tangible book value per common share:

Tangible common stockholders’ equity $ 6,287,794 $ 6,091,689 $ 5,997,501 $ 6,002,951 $ 5,869,599

Common shares outstanding 162,034 162,049 161,216 164,817 167,083

Tangible book value per common share $ 38.81 $ 37.59 $ 37.20 $ 36.42 $ 35.13

Core deposits:

Total deposits $ 70,283,453 $ 69,039,716 $ 68,759,813 $ 68,175,644 $ 66,314,425

Less: Certificates of deposit 6,165,975 5,848,150 6,078,549 6,202,906 6,069,447

Brokered certificates of deposit 2,196,274 791,690 2,491,769 1,372,907 1,850,438

Core deposits $ 61,921,204 $ 62,399,876 $ 60,189,495 $ 60,599,831 $ 58,394,540

WEBSTER FINANCIAL CORPORATION

Non-GAAP to GAAP Reconciliations

(In thousands) Three Months Ended

June 30, 2026 Six Months Ended June 30, 2026

Adjusted return on average assets:

Net income $ 256,789 $ 503,020

Add: Transaction expenses, tax-effected 6,448 15,217

Strategic restructuring costs, tax-effected (1)

— 2,643

FDIC special assessment, tax-effected — (497)

Adjusted net income $ 263,237 $ 520,383

Adjusted net income, annualized basis $ 1,052,948 $ 1,040,766

Average assets $ 86,361,079 $ 85,732,388

Adjusted return on average assets 1.22 % 1.21 %

Adjusted return on average tangible common stockholders’ equity:

Net income $ 256,789 $ 503,020

Less: Preferred stock dividends 4,162 8,325

Add: Intangible assets amortization, tax-effected 6,545 13,221

Transaction expenses, tax-effected 6,448 15,217

Strategic restructuring costs, tax-effected (1)

— 2,643

FDIC special assessment, tax-effected — (497)

Adjusted net income $ 265,620 $ 525,279

Adjusted net income, annualized basis $ 1,062,480 $ 1,050,558

Average stockholders’ equity $ 9,698,316 $ 9,668,443

Less: Average preferred stock 283,979 283,979

Average goodwill and other intangible assets, net 3,194,100 3,199,022

Average tangible common stockholders’ equity $ 6,220,237 $ 6,185,442

Adjusted return on average tangible common stockholders’ equity 17.08 % 16.98 %

GAAP to adjusted reconciliation: Three Months Ended June 30, 2026

(In thousands, except per share data) Pre-Tax Income Income Applicable to Common Stockholders Diluted EPS

Reported (GAAP) $ 323,529 $ 249,442 $ 1.56

Transaction expenses 8,725 6,448 0.04

Adjusted (non-GAAP) $ 332,254 $ 255,890 $ 1.60

Six Months Ended June 30, 2026

Pre-Tax Income Income Applicable to Common Stockholders Diluted EPS

Reported (GAAP) $ 626,286 $ 488,721 $ 3.05

Transaction expenses 17,870 15,217 0.09

Strategic restructuring costs (1)

3,636 2,643 0.02

FDIC special assessment (684) (497) —

Adjusted (non-GAAP) $ 647,108 $ 506,084 $ 3.16

(1)Strategic restructuring costs reflect severance charges.

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