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WEBSTER REPORTS

THIRD QUARTER 2025 EPS OF $1.54

STAMFORD, Conn., October 17, 2025 - Webster Financial Corporation (“Webster”) (NYSE: WBS), the holding company for Webster Bank, N.A., today announced net income applicable to common stockholders of $254.1 million, or $1.54 per diluted share, for the quarter ended September 30, 2025, compared to $186.8 million, or $1.10 per diluted share, for the quarter ended September 30, 2024.

“Webster continues to exhibit strong financial results,” said John R. Ciulla, chairman and chief executive officer. “It is appropriate that on Webster’s 90th anniversary, the consistency and excellence Webster has delivered since its founding persists.”

Highlights for the third quarter of 2025:

•Revenue of $732.6 million.

•Period end loans and leases balance of $55.1 billion, up $1.4 billion, or 2.6 percent from prior quarter.

•Period end deposits balance of $68.2 billion, up $1.9 billion, or 2.8 percent, from prior quarter.

•Provision for credit losses of $44.0 million.

•Return on average assets of 1.27 percent.

•Return on average tangible common equity of 17.64 percent1.

•Net interest margin of 3.40 percent, down 4 basis points from prior quarter.

•Common equity tier 1 ratio of 11.40 percent2.

•Efficiency ratio of 45.79 percent1.

•Tangible common equity ratio of 7.50 percent1.

•Repurchased 2.2 million shares under Webster’s share repurchase program.

“Webster’s growth, efficiency, and returns are each reflective of the company’s favorable strategic positioning,” said Neal Holland, senior executive vice president and chief financial officer. “We are proud to deliver record quarterly EPS on the occasion of Webster’s 90th anniversary.”

1 See “Non-GAAP to GAAP Reconciliations” section beginning on page 19.

2 Presented as preliminary for September 30, 2025.

Consolidated financial performance:

Quarterly net interest income compared to the third quarter of 2024:

•Net interest income was $631.7 million, compared to $589.9 million.

•Net interest margin1 was 3.40 percent, compared to 3.41 percent. The yield on interest-earning assets decreased by 24 basis points, and the cost of deposits and interest-bearing liabilities decreased by 28 basis points.

•Average interest-earning assets totaled $75.4 billion, an increase of $5.0 billion, or 7.1 percent.

•Average loans and leases totaled $54.4 billion, an increase of $2.6 billion, or 5.1 percent.

•Average deposits totaled $67.3 billion, an increase of $4.7 billion, or 7.6 percent.

Quarterly provision for credit losses:

•The provision for credit losses was $44.0 million, compared to $46.5 million in the prior quarter, and $54.0 million a year ago.

•Net charge-offs were $38.4 million, compared to $36.4 million in the prior quarter, and $35.4 million a year ago. The ratio of net charge-offs to average loans and leases was 0.28 percent, compared to 0.27 percent in both the prior quarter and a year ago.

•The allowance for credit losses on loans and leases represented 1.32 percent of total loans and leases, compared to 1.35 percent at June 30, 2025, and 1.32 percent at September 30, 2024.

•The allowance for credit losses on loans and leases represented 134 percent of non-performing loans and leases, compared to 135 percent at June 30, 2025, and 162 percent at September 30, 2024.

Quarterly non-interest income compared to the third quarter of 2024:

•Total non-interest income was $100.9 million, compared to $57.7 million, an increase of $43.2 million. In the third quarter of 2024, total non-interest income included a $19.6 million net loss on sale of investment securities and a $16.0 million loss on the exit of non-core operations, which included the write-off of a related customer intangible. Excluding those items, total non-interest income increased $7.6 million. The increase is primarily driven by increased activity in client hedging activities, an increase in the credit valuation adjustment, and a $4.0 million beneficial legal settlement.

1 As of the first quarter of 2025, Webster changed the methodology used to annualize net interest income in its quarterly and year to date net interest margin calculation. Net interest margin for the prior periods has been recast.

Quarterly non-interest expense compared to the third quarter of 2024:

•Total non-interest expense was $356.7 million, compared to $349.0 million, an increase of $7.7 million. In the third quarter of 2024, total non-interest expense included a net $20.6 million related to strategic restructuring costs and other adjustments and a benefit on the FDIC special assessment. Excluding those charges, total non-interest expense increased $28.3 million. The increase is primarily driven by investments in human capital, increased performance-based incentives, business development, and risk management infrastructure.

Quarterly income taxes compared to the third quarter of 2024:

•Income tax expense was $70.7 million, compared to $51.7 million, and the effective tax rate was 21.3 percent, compared to 21.1 percent. The higher effective tax rate in the current quarter reflects the effects of a higher level of income in 2025, compared to 2024, partially offset by the recognition of discrete tax benefits, compared to discrete tax expense a year ago.

Investment securities:

•Total investment securities, net, were $18.0 billion, compared to $17.8 billion at June 30, 2025, and $17.2 billion at September 30, 2024. The carrying value of the available-for-sale portfolio included $496.8 million of net unrealized losses, compared to $568.3 million at June 30, 2025, and $486.1 million at September 30, 2024. The carrying value of the held-to-maturity portfolio does not reflect $836.7 million of net unrealized losses, compared to $901.6 million at June 30, 2025, and $677.0 million at September 30, 2024.

Loans and leases:

•Total loans and leases were $55.1 billion, compared to $53.7 billion at June 30, 2025, and $51.9 billion at September 30, 2024. Compared to June 30, 2025, commercial loans and leases increased by $619.7 million, commercial real estate loans increased by $552.5 million, residential mortgages increased by $176.7 million, and consumer loans increased by $31.2 million. Compared to September 30, 2024, commercial loans and leases increased by $1.8 billion, commercial real estate loans increased by $219.9 million, residential mortgages increased by $932.5 million, and consumer loans increased by $160.8 million.

•Loan originations for the portfolio were $4.1 billion, compared to $3.8 billion in the prior quarter, and $2.8 billion a year ago.

Asset quality:

•Total non-performing loans and leases were $543.9 million, compared to $534.5 million at June 30, 2025, and $425.6 million at September 30, 2024. The ratio of total non-performing loans and leases to total loans and leases was 0.99 percent, compared to 1.00 percent at June 30, 2025, and 0.82 percent at September 30, 2024.

•Past due loans and leases were $65.6 million, compared to $54.8 million at June 30, 2025, and $108.9 million at September 30, 2024. The increase from prior quarter is primarily driven by commercial real estate and residential mortgages, partially offset by a decrease in commercial non-mortgage.

Deposits and borrowings:

•Total deposits were $68.2 billion, compared to $66.3 billion at June 30, 2025, and $64.5 billion at September 30, 2024. The ratio of core deposits to total deposits1 was 88.9 percent, compared to 88.1 percent at June 30, 2025, and 88.5 percent at September 30, 2024. The loan to deposit ratio was 80.8 percent, compared to 80.9 percent at June 30, 2025, and 80.5 percent at September 30, 2024.

•Total borrowings were $3.9 billion, compared to $4.6 billion at June 30, 2025, and $4.1 billion at September 30, 2024.

Capital:

•The return on average common stockholders’ equity and the return on average tangible common stockholders’ equity1 were 11.23 percent and 17.64 percent, respectively, compared to 11.31 percent and 17.96 percent, respectively, in the prior quarter, and 8.67 percent and 14.29 percent, respectively, a year ago.

•The tangible equity1 and tangible common equity1 ratios were 7.86 percent and 7.50 percent, respectively, compared to 7.82 percent and 7.46 percent, respectively, at June 30, 2025, and 7.85 percent and 7.48 percent, respectively, at September 30, 2024.

•The common equity tier 12 ratio was 11.40 percent, compared to 11.35 percent at June 30, 2025, and 11.25 percent at September 30, 2024.

•Book value per common share and tangible book value per common share1 were $55.69 and $36.42, respectively, compared to $54.19 and $35.13, respectively, at June 30, 2025, and $52.00 and $33.26, respectively, at September 30, 2024.

1 See “Non-GAAP to GAAP Reconciliations” section beginning on page 19.

2 Presented as preliminary for September 30, 2025, and actual for the remaining periods.

Reportable segments:

Commercial Banking

Webster’s Commercial Banking segment delivers financial solutions both nationally and regionally to a wide range of companies, investors, government entities, and other public and private institutions. Commercial Banking helps its clients achieve their business and financial goals with expertise in Commercial & Institutional Lending, Commercial Real Estate, Capital Markets, Capital Finance, and Treasury Management. Its Private Banking team also pairs holistic wealth solutions, including tailored lending, with commercial banking services. At September 30, 2025, Commercial Banking had $42.4 billion in loans and leases and $18.3 billion in deposits, as well as a combined $2.8 billion in assets under administration (“AUA”) and management (“AUM”).

Commercial Banking Operating Results:


			Percent
	Three months ended September 30,		Favorable/
(In thousands)	2025	2024	(Unfavorable)
Net interest income	$328,306	$338,424		(3.0)	%
Non-interest income	33,902	33,288		1.8
Operating revenue	362,208	371,712		(2.6)
Non-interest expense	108,590	100,892		(7.6)
Pre-tax, pre-provision net revenue	$253,618	$270,820		(6.4)

			Percent
	September 30,		Increase/
(In millions)	2025	2024	(Decrease)
Loans and leases	$42,361	$40,372		4.9	%
Deposits	18,261	17,124		6.6
AUA / AUM (off balance sheet)	2,813	2,968		(5.2)

Pre-tax, pre-provision net revenue decreased $17.2 million, to $253.6 million, in the quarter as compared to the prior year. Net interest income decreased $10.1 million, to $328.3 million, primarily driven by a lower net spread on loans and leases, partially offset by higher average loan and deposit balances. Non-interest income increased $0.6 million, to $33.9 million, primarily driven by higher syndication and prepayment fees and an increase in client hedging activities, partially offset by a non-recurring gain from a multi-family securitization event in the third quarter of 2024. Non-interest expense increased $7.7 million, to $108.6 million, primarily driven by increased investments in human capital, operational process improvements, and technology, and higher foreclosed property and loan workout expenses.

Healthcare Financial Services

Webster’s Healthcare Financial Services segment includes HSA Bank and Ametros. HSA Bank is one the country’s largest providers of employee benefits solutions, including being one of the leading bank administrators of health savings accounts, emergency savings accounts, and flexible spending accounts administration services in 50 states. Ametros, the nation’s largest professional administrator of medical insurance claim settlements, helps individuals manage their ongoing medical care through their CareGuard service and proprietary technology platform. At September 30, 2025, Healthcare Financial Services had $16.6 billion in total footings comprising $10.3 billion in deposits and $6.3 billion in AUA through linked investment accounts.

Healthcare Financial Services Operating Results:


			Percent
	Three months ended September 30,		Favorable/
(In thousands)	2025	2024	(Unfavorable)
Net interest income	$100,041	$93,940		6.5	%
Non-interest income	27,304	26,541		2.9
Operating revenue	127,345	120,481		5.7
Non-interest expense	54,492	54,023		(0.9)
Pre-tax net revenue	$72,853	$66,458		9.6


	September 30,		Percent
(Dollars in millions)	2025	2024	Increase
Number of accounts (thousands)	3,475	3,341		4.0	%

Deposits	$10,305	$9,940		3.7
Linked investment accounts (off balance sheet)	6,270	5,205		20.5
Total footings	$16,575	$15,146		9.4

Pre-tax net revenue increased $6.4 million, to $72.9 million, in the quarter as compared to the prior year. Net interest income increased $6.1 million, to $100.0 million, primarily driven by higher deposit balances, partially offset by lower deposit spreads. Non-interest income increased $0.8 million, to $27.3 million, primarily driven by higher interchange and medical fees. Non-interest expense increased $0.5 million, to $54.5 million, primarily driven by higher compensation and benefits costs, partially offset by lower service contract expenses.

Consumer Banking

Webster’s Consumer Banking segment delivers customized financial solutions for individuals and families, private clients, and small business owners across 196 banking centers throughout the Northeast. Consumer Banking offers a full suite of deposit, lending, treasury management, and wealth management solutions delivered by experienced relationship managers and financial advisors. Consumer Banking also provides a fully digital banking experience through its mobile banking apps and BrioDirect. At September 30, 2025, Consumer Banking had $12.7 billion in loans and $27.5 billion in deposits, as well as $7.7 billion in AUA.

Consumer Banking Operating Results:


			Percent
	Three months ended September 30,		Favorable/
(In thousands)	2025	2024	(Unfavorable)
Net interest income	$214,465	$202,122		6.1	%
Non-interest income	24,909	28,299		(12.0)
Operating revenue	239,374	230,421		3.9
Non-interest expense	125,397	116,253		(7.9)
Pre-tax, pre-provision net revenue	$113,977	$114,168		(0.2)

			Percent
	September 30,		Increase/
(In millions)	2025	2024	(Decrease)
Loans	$12,683	$11,571		9.6	%
Deposits	27,548	27,020		2.0
AUA (off balance sheet)	7,656	7,948		(3.7)

Pre-tax, pre-provision net revenue decreased $0.2 million, to $114.0 million, in the quarter as compared to the prior year. Net interest income increased $12.3 million, to $214.5 million, primarily driven by higher average loan and deposit balances coupled with a higher interest rate spreads on loans, partially offset by a lower interest rate spread on deposits. Non-interest income decreased $3.4 million, to $24.9 million, primarily driven by a non-recurring gain on an investment portfolio sale in the third quarter of 2024 and lower investment services income. Non-interest expense increased $9.1 million, to $125.4 million, primarily driven by increased investments in technology, employee-related expenses, and loan-related expenses.

***

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 more than $83 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.

Conference Call

A conference call covering Webster’s third quarter 2025 earnings announcement will be held today, Friday, October 17, 2025, at 9:00 a.m. Eastern Time. To listen to the live call, please dial 888-330-2446, or 1-240-789-2732 for international callers. The passcode is 8607257. The webcast, along with related slides, will be available via Webster’s Investor Relations website at investors.websterbank.com. A replay of the conference call will be available for one week via the website listed above, beginning at approximately 12:00 noon (Eastern Time) on October 17, 2025. To access the replay, dial 800-770-2030, or 1-609-800-9909 for international callers. The replay conference ID number is 8607257.

Media Contact

Alice Ferreira, 203-578-2610

acferreira@websterbank.com

Investor Contact

Emlen Harmon, 212-309-7646

eharmon@websterbank.com

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “could,” “believes,” “anticipates,” “expects,” “intends,” “outlook,” “target,” “continue,” “remain,” “will,” “should,” “may,” “might,” “plans,” “estimates,” “likely,” “future,” and similar references to future periods. However, these words are not the exclusive means of identifying such statements. Examples of forward-looking statements include but are not limited to: projections of revenues, expenses, income or loss, earnings or loss per share, and other financial items; statements of plans, objectives, and expectations of Webster or its management or Board of Directors; statements of future economic performance; and statements of assumptions underlying such statements. Forward-looking statements are based on Webster’s current expectations and assumptions regarding its business, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict, and in many cases, are beyond Webster's control. Webster’s actual results may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Factors that could cause Webster’s actual results to differ from those discussed in any forward-looking statements include, but are not limited to: Webster’s ability to successfully execute its business plan and strategic initiatives, and manage any risks or uncertainties; continued regulatory changes or other risk mitigation efforts taken by government agencies in response to the risk to safety and soundness in the banking industry; volatility in Webster’s stock price due to investor sentiment and perception of the banking industry; local, regional, national, and international economic conditions or macroeconomic instability (including any economic slowdown or recession, inflation, monetary fluctuation, tariff increases, interest rate changes, credit loss trends, unemployment, changes in housing or securities markets, or other factors) and the impact of the same on Webster or its customers; volatility, disruption, or uncertainty in national and international financial markets, including as a result of geopolitical developments; the impact of unrealized losses in Webster’s financial instruments, particularly in Webster’s available-for-sale securities portfolio; changes in laws and regulations, or existing laws and regulations that Webster becomes subject to, including those concerning banking, taxes, dividends, securities, insurance, cybersecurity, and healthcare administration, with which Webster and its subsidiaries must comply; adverse conditions in the securities markets that could lead to impairment in the value of Webster’s securities portfolio; possible changes in governmental monetary and fiscal policies, or any leadership changes of those determining such policies, including, but not limited to, Federal Reserve policies in connection with continued inflationary pressures; the effects of any restructurings, staff reductions, or other disruptions (including any potential effects from the current government shutdown) in the U.S. federal government or in agencies regulating or otherwise impacting Webster’s business; the direct or indirect impact of any new regulatory, policy, or enforcement developments resulting from the policies or actions of the current U.S. presidential administration, including trade deals, changes in tariffs and other protectionist trade policies, any reciprocal and/or retaliatory tariffs by foreign countries, and any uncertainties related thereto; the timely development and acceptance of any new products and services, and the perceived value of those products and services by customers; changes in deposit flows, consumer spending, borrowings, and savings habits; Webster’s ability to implement new technologies and maintain secure and reliable information and technology systems; the effects, including reputational damage, of any cybersecurity threats, attacks or disruptions, fraudulent activity, or other data breaches or security events, including those involving Webster’s third-party vendors and service providers; issues with the performance of Webster’s counterparties and third-party vendors; Webster’s ability to increase market share and control expenses; changes in the competitive environment among banks, financial holding companies, and other traditional and non-traditional financial service providers; Webster’s ability to maintain adequate sources of funding and liquidity; possible downgrades in Webster’s credit ratings; limitations on Webster’s ability to receive dividends from its subsidiaries; Webster’s ability to attract, develop, motivate, and retain skilled employees; changes in loan demand or real estate values; changes in the mix of loan geographies, sectors, or types and the level of non-performing assets, charge-offs, and delinquencies; changes in Webster’s estimates of current expected credit losses based upon periodic review under relevant regulatory and accounting requirements; the effect of changes in accounting policies and practices applicable to Webster, including impacts of recently adopted accounting guidance; legal and regulatory developments, including any due to judicial decisions, the initiation or resolution of legal proceedings or regulatory or other governmental inquiries, the results of regulatory examinations or reviews, disruptions at regulatory agencies, government funding or other issues; Webster’s ability to navigate differing environmental, social, governmental, and sustainability concerns among federal and state governmental administrations and judicial decisions, Webster’s stakeholders, and other activists that may arise from Webster’s business activities; Webster’s ability to assess and monitor the effect of evolving uses of artificial intelligence on its business and operations; the occurrence of natural disasters, severe weather events, and public health crises, and any governmental or societal responses thereto; the impact of any of the foregoing on the business or credit quality of Webster’s customers; and the other factors that are described in Webster’s Annual Report on Form 10-K for the year ended December 31, 2024, and 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, and core deposits. 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. 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.

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 19 for Non-GAAP to GAAP reconciliations.


WEBSTER FINANCIAL CORPORATION Selected Financial Highlights (unaudited)
	Three Months Ended
(In thousands, except ratio and per share data)	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024
Income and performance ratios:
Net income	$	261,217		$	258,848		$	226,917		$	177,766		$	192,985
Net income applicable to common stockholders	254,051			251,695			220,367			171,760			186,799
Earnings per common share - Diluted	1.54			1.52			1.30			1.01			1.10
Return on average assets (annualized)	1.27		%	1.29		%	1.15		%	0.91		%	1.01		%
Return on average tangible common stockholders' equity (annualized) (1)	17.64			17.96			15.93			12.73			14.29
Return on average common stockholders’ equity (annualized)	11.23			11.31			9.94			7.80			8.67
Non-interest income as a percentage of total revenue	13.77			13.22			13.14			7.94			8.92

Asset quality:
Allowance for credit losses on loans and leases	$	727,897		$	722,046		$	713,321		$	689,566		$	687,798
Non-performing assets	545,327			537,050			564,708			461,751			427,274
Allowance for credit losses on loans and leases / total loans and leases	1.32		%	1.35		%	1.34		%	1.31		%	1.32		%
Net charge-offs / average loans and leases (annualized)	0.28			0.27			0.42			0.47			0.27
Non-performing loans and leases / total loans and leases	0.99			1.00			1.06			0.88			0.82
Non-performing assets / total loans and leases plus other real estate owned and repossessed assets	0.99			1.00			1.06			0.88			0.82
Allowance for credit losses on loans and leases / non-performing loans and leases	133.82			135.08			126.39			149.47			161.60

Other ratios:
Tangible equity (1)	7.86		%	7.82		%	7.80		%	7.82		%	7.85		%
Tangible common equity (1)	7.50			7.46			7.43			7.45			7.48
Tier 1 Risk-Based Capital (2)	11.90			11.86			11.76			12.06			11.77
Total Risk-Based Capital (2)	14.69			14.05			13.96			14.24			14.06
Common equity tier 1 Risk-Based Capital (2)	11.40			11.35			11.25			11.54			11.25
Stockholders’ equity / total assets	11.37			11.40			11.47			11.56			11.58
Net interest margin (3)	3.40			3.44			3.48			3.44			3.41
Efficiency ratio (1)	45.79			45.40			45.79			44.80			45.49

Equity and share related:
Common stockholders’ equity	$	9,178,698		$	9,053,638		$	8,920,175		$	8,849,235		$	8,914,071
Book value per common share	55.69			54.19			52.91			51.63			52.00
Tangible book value per common share (1)	36.42			35.13			33.97			32.95			33.26
Common stock closing price	59.44			54.60			51.55			55.22			46.61
Dividends declared per common share	0.40			0.40			0.40			0.40			0.40
Common shares outstanding	164,817			167,083			168,594			171,391			171,428
Weighted-average common shares outstanding - Basic	164,138			165,884			169,182			169,589			169,569
Weighted-average common shares - Diluted	164,456			166,131			169,544			170,005			169,894

(1)See “Non-GAAP to GAAP Reconciliations” section beginning on page 19.

(2)Presented as preliminary for September 30, 2025, and actual for the remaining periods.

(3)As of the first quarter of 2025, Webster changed the methodology used to annualize net interest income in its quarterly and year to date net interest margin calculation. Net interest margin for the prior periods has been recast.


WEBSTER FINANCIAL CORPORATION Consolidated Balance Sheets (unaudited)
(In thousands)	September 30, 2025		June 30, 2025		September 30, 2024
Assets:
Cash and due from banks	$	498,801	$	425,349	$	721,261
Interest-bearing deposits	2,563,680		2,568,570		2,476,290
Investment securities:
Available-for-sale	9,932,344		9,620,354		8,594,978
Held-to-maturity, net	8,077,505		8,192,720		8,565,936
Total investment securities, net	18,009,849		17,813,074		17,160,914
Loans held for sale	75,386		278,409		117,615
Loans and leases:
Commercial	21,912,809		21,293,103		20,120,992
Commercial real estate	21,911,298		21,358,775		21,691,377
Residential mortgages	9,509,142		9,332,413		8,576,612
Consumer	1,718,832		1,687,668		1,558,034
Total loans and leases	55,052,081		53,671,959		51,947,015
Allowance for credit losses on loans and leases	(727,897)		(722,046)		(687,798)
Total loans and leases, net	54,324,184		52,949,913		51,259,217
Federal Home Loan Bank and Federal Reserve Bank stock	340,231		370,272		360,795
Deferred tax assets, net	220,972		252,442		273,174
Premises and equipment, net	427,215		422,774		411,070
Goodwill and other intangible assets, net	3,175,747		3,184,039		3,212,050
Cash surrender value of life insurance policies	1,266,491		1,262,311		1,247,624
Accrued interest receivable and other assets	2,290,096		2,387,117		2,213,890
Total assets	$	83,192,652	$	81,914,270	$	79,453,900

Liabilities and Stockholders’ Equity:
Deposits:
Demand	$	10,491,975	$	10,345,761	$	10,744,524
Interest-bearing checking	10,723,584		9,933,392		10,016,651
Health savings accounts	9,135,425		9,064,935		8,951,383
Money market	23,188,134		21,679,493		20,460,382
Savings	7,060,713		7,370,959		6,921,459
Certificates of deposit	6,202,906		6,069,447		6,020,031
Brokered certificates of deposit	1,372,907		1,850,438		1,400,000
Total deposits	68,175,644		66,314,425		64,514,430
Securities sold under agreements to repurchase and federal funds purchased	101,717		372,806		100,232
Federal Home Loan Bank advances	2,560,817		3,339,914		3,110,205
Long-term debt	1,249,612		905,634		910,963
Accrued expenses and other liabilities	1,642,185		1,643,874		1,620,020
Total liabilities	73,729,975		72,576,653		70,255,850
Preferred stock	283,979		283,979		283,979
Common stockholders’ equity	9,178,698		9,053,638		8,914,071
Total stockholders’ equity	9,462,677		9,337,617		9,198,050
Total liabilities and stockholders’ equity	$	83,192,652	$	81,914,270	$	79,453,900


WEBSTER FINANCIAL CORPORATION Consolidated Statements of Income (unaudited)
	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands, except per share data)	2025		2024		2025		2024
Interest income:
Interest and fees on loans and leases	$	794,668	$	809,184	$	2,324,988	$	2,399,326
Interest on investment securities	201,321		176,722		593,556		485,134
Loans held for sale	3,988		5,400		4,010		11,075
Other interest and dividends	28,325		12,757		79,822		36,664
Total interest income	1,028,302		1,004,063		3,002,376		2,932,199
Interest expense:
Deposits	355,504		371,075		1,021,625		1,068,309
Borrowings	41,131		43,105		115,710		133,971
Total interest expense	396,635		414,180		1,137,335		1,202,280
Net interest income	631,667		589,883		1,865,041		1,729,919
Provision for credit losses	44,000		54,000		168,000		158,500
Net interest income after provision for credit losses	587,667		535,883		1,697,041		1,571,419
Non-interest income:
Deposit service fees	39,576		38,863		119,405		122,479
Loan and lease related fees	16,404		18,513		51,682		57,614
Wealth and investment services	7,640		8,367		23,208		24,847

Cash surrender value of life insurance policies	7,535		8,020		24,699		20,325
Gain (loss) on sale of investment securities, net	—		(19,597)		220		(79,338)
Other income	29,751		3,575		68,955		53,465


Total non-interest income	100,906		57,741		288,169		199,392
Non-interest expense:
Compensation and benefits	209,036		194,736		607,611		570,126
Occupancy	19,003		18,879		58,057		53,421
Technology and equipment	47,520		56,696		141,171		147,835
Intangible assets amortization	8,966		8,491		27,296		26,401
Marketing	4,953		4,224		14,151		12,612
Professional and outside services	17,815		16,001		53,435		43,048
Deposit insurance	15,621		13,555		47,027		52,843
Other expenses	33,755		36,376		97,279		104,616
Total non-interest expense	356,669		348,958		1,046,027		1,010,902
Income before income taxes	331,904		244,666		939,183		759,909
Income tax expense	70,687		51,681		192,201		168,968
Net income	261,217		192,985		746,982		590,941
Preferred stock dividends	(4,162)		(4,162)		(12,487)		(12,487)
Income allocated to participating securities	(3,004)		(2,024)		(8,339)		(6,136)
Net income applicable to common stockholders	$	254,051	$	186,799	$	726,156	$	572,318

Weighted-average common shares outstanding - Basic	164,138		169,569		166,386		169,898
Weighted-average common shares - Diluted	164,456		169,894		166,738		170,226

Earnings per common share:
Basic	$	1.55	$	1.10	$	4.36	$	3.37
Diluted	1.54		1.10		4.36		3.36


WEBSTER FINANCIAL CORPORATION Five Quarter Consolidated Statements of Income (unaudited)
	Three Months Ended
(In thousands, except per share data)	September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
Interest income:
Interest and fees on loans and leases	$	794,668	$	775,203	$	755,117	$	783,140	$	809,184
Interest on investment securities	201,321		197,766		194,469		189,801		176,722
Loans held for sale	3,988		7		15		2,836		5,400
Other interest and dividends	28,325		27,611		23,886		19,310		12,757
Total interest income	1,028,302		1,000,587		973,487		995,087		1,004,063
Interest expense:
Deposits	355,504		339,738		326,383		358,895		371,075
Borrowings	41,131		39,667		34,912		27,724		43,105
Total interest expense	396,635		379,405		361,295		386,619		414,180
Net interest income	631,667		621,182		612,192		608,468		589,883
Provision for credit losses	44,000		46,500		77,500		63,500		54,000
Net interest income after provision for credit losses	587,667		574,682		534,692		544,968		535,883
Non-interest income:
Deposit service fees	39,576		40,934		38,895		38,665		38,863
Loan and lease related fees	16,404		17,657		17,621		18,770		18,513
Wealth and investment services	7,640		7,779		7,789		8,387		8,367

Cash surrender value of life insurance policies	7,535		9,172		7,992		7,387		8,020
Gain (loss) on sale of investment securities, net	—		—		220		(56,886)		(19,597)
Other income	29,751		19,115		20,089		36,184		3,575


Total non-interest income	100,906		94,657		92,606		52,507		57,741
Non-interest expense:
Compensation and benefits	209,036		199,930		198,645		192,668		194,736
Occupancy	19,003		19,337		19,717		18,740		18,879
Technology and equipment	47,520		45,932		47,719		47,182		56,696
Intangible assets amortization	8,966		9,093		9,237		9,681		8,491
Marketing	4,953		5,171		4,027		6,139		4,224
Professional and outside services	17,815		18,394		17,226		15,205		16,001
Deposit insurance	15,621		15,061		16,345		16,069		13,555
Other expenses	33,755		32,796		30,728		34,693		36,376
Total non-interest expense	356,669		345,714		343,644		340,377		348,958
Income before income taxes	331,904		323,625		283,654		257,098		244,666
Income tax expense	70,687		64,777		56,737		79,332		51,681
Net income	261,217		258,848		226,917		177,766		192,985
Preferred stock dividends	(4,162)		(4,162)		(4,163)		(4,163)		(4,162)
Income allocated to participating securities	(3,004)		(2,991)		(2,387)		(1,843)		(2,024)
Net income applicable to common stockholders	$	254,051	$	251,695	$	220,367	$	171,760	$	186,799

Weighted-average common shares outstanding - Basic	164,138		165,884		169,182		169,589		169,569
Weighted-average common shares - Diluted	164,456		166,131		169,544		170,005		169,894

Earnings per common share:
Basic	$	1.55	$	1.52	$	1.30	$	1.01	$	1.10
Diluted	1.54		1.52		1.30		1.01		1.10


WEBSTER FINANCIAL CORPORATION Consolidated Average Balances, Interest, Average Yields/Rates, and Net Interest Margin on a Fully Tax-equivalent Basis (unaudited)
	Three Months Ended September 30,
			2025						2024
(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	$	54,372,960	$	806,695	5.83	%	$	51,752,193	$	820,209	6.22	%
Investment securities (1)	18,371,777		203,552		4.43		17,483,341		179,356		4.10
Federal Home Loan and Federal Reserve Bank stock	345,001		4,729		5.44		340,330		4,383		5.12
Interest-bearing deposits	2,120,664		23,596		4.35		629,180		8,374		5.21
Loans held for sale	192,686		3,988		8.28		216,735		5,400		9.97
Total interest-earning assets	75,403,088		$	1,042,560	5.45	%	70,421,779		$	1,017,722	5.69	%
Non-interest-earning assets (1)	6,591,115						6,383,522
Total assets	$	81,994,203					$	76,805,301

Liabilities and Stockholders’ Equity:
Interest-bearing liabilities:
Demand	$	10,141,954	$	—	—	%	$	10,243,045	$	—	—	%
Interest-bearing checking	10,502,974		47,305		1.79		9,744,885		48,160		1.96
Health savings accounts	9,127,705		3,886		0.17		8,546,941		3,257		0.15
Money market	22,513,065		201,086		3.54		19,945,165		208,980		4.17
Savings	7,233,339		30,813		1.69		6,909,526		29,140		1.69
Certificates of deposit	6,120,864		53,853		3.49		5,895,329		64,368		4.34
Brokered certificates of deposit	1,679,127		18,561		4.39		1,294,764		17,170		5.28
Total deposits	67,319,028		355,504		2.10		62,579,655		371,075		2.36
Securities sold under agreements to repurchase	139,567		631		1.77		125,738		38		0.12

Federal Home Loan Bank advances	2,602,949		29,620		4.45		2,535,497		35,172		5.43
Long-term debt (1)	960,497		10,880		4.53		887,090		7,895		3.56
Total borrowings	3,703,013		41,131		4.37		3,548,325		43,105		4.77
Total deposits and interest-bearing liabilities	71,022,041		$	396,635	2.21	%	66,127,980		$	414,180	2.49	%
Non-interest-bearing liabilities (1)	1,532,014						1,682,187
Total liabilities	72,554,055						67,810,167

Preferred stock	283,979						283,979
Common stockholders’ equity	9,156,169						8,711,155
Total stockholders’ equity	9,440,148						8,995,134
Total liabilities and stockholders’ equity	$	81,994,203					$	76,805,301
Tax-equivalent net interest income			645,925						603,542
Less: Tax-equivalent adjustments			(14,258)						(13,659)
Net interest income			$	631,667					$	589,883
Net interest margin (2)					3.40	%					3.41	%

(1)In order to provide the users of the Company’s financial statements with a more transparent view of the actual consolidated average balances that are used in the calculation of net interest margin, the Company has recast, in the above table, certain consolidated
average balances for the three months ended September 30, 2024, to reflect a change in presentation being applied retrospectively. Specifically, adjustments were made to exclude average unsettled trades of $52.3 million and average available-for-sale unrealized losses of $649.2 million from investment securities, and to exclude an average basis adjustment of $24.7 million from long-term debt related to a de-designated fair value hedge. Rather, effective as of December 31, 2024, these amounts are being presented in average non-interest-earning assets and average non-interest-bearing liabilities, respectively. There were no changes to the related yields/rates or net interest income that had been previously disclosed.

(2)As of the first quarter of 2025, Webster changed the methodology used to annualize net interest income in its quarterly and year to date net interest margin calculation. Net interest margin for the prior periods has been recast. There were no changes to the related yields/rates or net interest income that had been previously disclosed.


WEBSTER FINANCIAL CORPORATION Consolidated Average Balances, Interest, Average Yields/Rates, and Net Interest Margin on a Fully Tax-equivalent Basis (unaudited)
	Nine Months Ended September 30,
			2025						2024
(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	$	53,413,031	$	2,359,891	5.84	%	$	51,376,513	$	2,430,382	6.23	%
Investment securities (1)	18,238,066		600,392		4.39		17,146,601		497,931		3.87
Federal Home Loan and Federal Reserve Bank stock	338,576		12,926		5.10		340,222		13,901		5.46
Interest-bearing deposits	2,013,349		66,896		4.38		563,217		22,763		5.31
Loans held for sale	93,748		4,010		5.70		150,985		11,075		9.78
Total interest-earning assets	74,096,770		$	3,044,115	5.44	%	69,577,538		$	2,976,052	5.65	%
Non-interest-earning assets (1)	6,506,268						6,450,110
Total assets	$	80,603,038					$	76,027,648

Liabilities and Stockholders' Equity:
Interest-bearing liabilities:
Demand	$	10,178,346	$	—	—	%	$	10,327,076	$	—	—	%
Interest-bearing checking	9,997,950		130,594		1.75		9,475,927		134,091		1.89
Health savings accounts	9,190,317		11,081		0.16		8,560,303		9,654		0.15
Money market	21,762,954		575,046		3.53		18,905,798		588,760		4.16
Savings	7,267,170		90,580		1.67		6,845,957		77,088		1.50
Certificates of deposit	6,076,756		160,668		3.53		5,861,288		192,649		4.39
Brokered certificates of deposit	1,619,633		53,656		4.43		1,647,193		66,067		5.36
Total deposits	66,093,126		1,021,625		2.07		61,623,542		1,068,309		2.32

Securities sold under agreements to repurchase	164,659		2,525		2.02		125,492		245		0.26
Federal funds purchased	—		—		—		72,537		3,015		5.46
Federal Home Loan Bank advances	2,456,918		83,034		4.46		2,551,535		106,266		5.47
Long-term debt (1)	911,107		30,151		4.41		909,294		24,445		3.58
Total borrowings	3,532,684		115,710		4.33		3,658,858		133,971		4.82
Total deposits and interest-bearing liabilities	69,625,810		$	1,137,335	2.18	%	65,282,400		$	1,202,280	2.46	%
Non-interest-bearing liabilities (1)	1,650,198						1,915,023
Total liabilities	71,276,008						67,197,423

Preferred stock	283,979						283,979
Common stockholders’ equity	9,043,051						8,546,246
Total stockholders’ equity	9,327,030						8,830,225
Total liabilities and stockholders’ equity	$	80,603,038					$	76,027,648
Tax-equivalent net interest income			1,906,780						1,773,772
Less: Tax-equivalent adjustments			(41,739)						(43,853)
Net interest income			$	1,865,041					$	1,729,919
Net interest margin (2)					3.44	%					3.41	%

(1)In order to provide the users of the Company’s financial statements with a more transparent view of the actual consolidated average balances that are used in the calculation of net interest margin, the Company has recast, in the above table, certain consolidated
average balances for the nine months ended September 30, 2024, to reflect a change in presentation being applied retrospectively. Specifically, adjustments were made to exclude average unsettled trades of $97.0 million and average available-for-sale unrealized losses of $738.2 million from investment securities, and to exclude an average basis adjustment of $26.1 million from long-term debt related to a de-designated fair value hedge. Rather, effective as of December 31, 2024, these amounts are being presented in average non-interest-earning assets and average non-interest-bearing liabilities, respectively. There were no changes to the related yields/rates or net interest income that had been previously disclosed.


WEBSTER FINANCIAL CORPORATION Five Quarter Loans and Leases (unaudited)
(In thousands)	September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
Loans and leases (actual):
Commercial non-mortgage	$	20,654,331	$	19,943,097	$	19,495,784	$	19,272,958	$	18,657,089
Asset-based lending	1,258,478		1,350,006		1,385,042		1,404,007		1,463,903
Commercial real estate	21,911,298		21,358,775		21,383,144		21,391,036		21,691,377
Residential mortgages	9,509,142		9,332,413		9,123,000		8,853,669		8,576,612
Consumer	1,718,832		1,687,668		1,669,253		1,583,498		1,558,034
Total loans and leases	55,052,081		53,671,959		53,056,223		52,505,168		51,947,015
Allowance for credit losses on loans and leases	(727,897)		(722,046)		(713,321)		(689,566)		(687,798)
Total loans and leases, net	$	54,324,184	$	52,949,913	$	52,342,902	$	51,815,602	$	51,259,217

Loans and leases (average):
Commercial non-mortgage	$	20,451,639	$	19,703,434	$	19,167,596	$	18,919,934	$	18,166,258
Asset-based lending	1,289,208		1,360,288		1,409,177		1,449,743		1,452,794
Commercial real estate	21,508,546		21,302,161		21,338,147		21,572,682		22,215,293
Residential mortgages	9,416,499		9,228,988		8,985,033		8,740,658		8,390,613
Consumer	1,707,068		1,683,026		1,668,453		1,572,414		1,527,235
Total loans and leases	$	54,372,960	$	53,277,897	$	52,568,406	$	52,255,431	$	51,752,193


WEBSTER FINANCIAL CORPORATION Five Quarter Non-performing Assets and Past Due Loans and Leases (unaudited)
(In thousands)	September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
Non-performing loans and leases:
Commercial non-mortgage	$	223,398	$	231,458	$	279,831	$	268,354	$	215,834

Asset-based lending	58,797		44,405		42,207		20,815		29,791
Commercial real estate	227,118		224,554		207,402		138,642		150,711
Residential mortgages	16,843		15,748		15,715		12,500		9,098
Consumer	17,772		18,357		19,243		21,015		20,183
Total non-performing loans and leases	$	543,928	$	534,522	$	564,398	$	461,326	$	425,617

Other real estate owned and repossessed assets:
Commercial non-mortgage	$	1,399	$	2,528	$	310	$	425	$	504

Residential mortgages	—		—		—		—		221
Consumer	—		—		—		—		932
Total other real estate owned and repossessed assets	$	1,399	$	2,528	$	310	$	425	$	1,657
Total non-performing assets	$	545,327	$	537,050	$	564,708	$	461,751	$	427,274




Past due 30-89 days:
Commercial non-mortgage	$	10,934	$	16,338	$	27,304	$	16,619	$	45,123
Asset-based lending	—		—		—		21,997		—
Commercial real estate	27,812		16,241		33,030		51,556		36,110
Residential mortgages	17,000		12,664		16,406		14,113		18,153
Consumer	8,730		9,516		9,906		9,122		9,471
Total past due 30-89 days	$	64,476	$	54,759	$	86,646	$	113,407	$	108,857
Past due 90 days or more and accruing	1,152		—		507		—		71
Total past due loans and leases	$	65,628	$	54,759	$	87,153	$	113,407	$	108,928


Five Quarter Changes in the Allowance for Credit Losses on Loans and Leases (unaudited)
	Three Months Ended
(In thousands)	September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
ACL on loans and leases, beginning balance	$	722,046	$	713,321	$	689,566	$	687,798	$	669,355
Provision	44,205		45,126		78,712		62,639		53,869
Charge-offs:



Commercial portfolio	37,914		39,792		55,566		63,281		36,362


Consumer portfolio	2,003		1,446		1,052		1,265		997
Total charge-offs	39,917		41,238		56,618		64,546		37,359
Recoveries:



Commercial portfolio	765		3,250		942		2,779		377


Consumer portfolio	798		1,587		719		896		1,556
Total recoveries	1,563		4,837		1,661		3,675		1,933
Total net charge-offs	38,354		36,401		54,957		60,871		35,426
ACL on loans and leases, ending balance	$	727,897	$	722,046	$	713,321	$	689,566	$	687,798




ACL on unfunded loan commitments	$	23,117	$	22,824	$	21,443	$	22,593	$	22,598


WEBSTER FINANCIAL CORPORATION Non-GAAP to GAAP Reconciliations
	Three Months Ended
(In thousands, except ratio and per share data)	September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
Efficiency ratio:
Non-interest expense	$	356,669	$	345,714	$	343,644	$	340,377	$	348,958
Less: Foreclosed property activity	1,535		541		517		(32)		(687)
Intangible assets amortization	8,966		9,093		9,237		9,681		8,491
Operating lease depreciation	3		9		16		121		197
FDIC special assessment	—		—		—		—		(1,544)
Strategic restructuring costs and other	—		—		—		—		22,169
Adjusted non-interest expense	$	346,165	$	336,071	$	333,874	$	330,607	$	320,332
Net interest income	$	631,667	$	621,182	$	612,192	$	608,468	$	589,883
Add: Tax-equivalent adjustment	14,258		13,870		13,611		13,664		13,659
Non-interest income	100,906		94,657		92,606		52,507		57,741
Other income (1)	9,234		10,528		11,032		6,564		7,448
Less: Operating lease depreciation	3		9		16		121		197
Gain (loss) on sale of investment securities, net	—		—		220		(56,886)		(19,597)
Exit of non-core operations	—		—		—		—		(15,977)
Adjusted income	$	756,062	$	740,228	$	729,205	$	737,968	$	704,108
Efficiency ratio	45.79%		45.40%		45.79%		44.80%		45.49%

Return on average tangible common stockholders’ equity:
Net income	$	261,217	$	258,848	$	226,917	$	177,766	$	192,985
Less: Preferred stock dividends	4,162		4,162		4,163		4,163		4,162
Add: Intangible assets amortization, tax-effected	6,534		6,627		6,732		7,648		6,708
Adjusted net income	$	263,589	$	261,313	$	229,486	$	181,251	$	195,531
Adjusted net income, annualized basis	$	1,054,356	$	1,045,252	$	917,944	$	725,004	$	782,124
Average stockholders’ equity	$	9,440,148	$	9,294,023	$	9,245,030	$	9,186,082	$	8,995,134
Less: Average preferred stock	283,979		283,979		283,979		283,979		283,979
Average goodwill and other intangible assets, net	3,180,111		3,188,946		3,198,123		3,207,554		3,238,115
Average tangible common stockholders’ equity	$	5,976,058	$	5,821,098	$	5,762,928	$	5,694,549	$	5,473,040
Return on average tangible common stockholders’ equity	17.64%		17.96%		15.93%		12.73%		14.29%

(1)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)	September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
Tangible equity ratio:
Stockholders’ equity	$	9,462,677	$	9,337,617	$	9,204,154	$	9,133,214	$	9,198,050
Less: Goodwill and other intangible assets, net	3,175,747		3,184,039		3,193,132		3,202,369		3,212,050
Tangible stockholders’ equity	$	6,286,930	$	6,153,578	$	6,011,022	$	5,930,845	$	5,986,000
Total assets	$	83,192,652	$	81,914,270	$	80,279,750	$	79,025,073	$	79,453,900
Less: Goodwill and other intangible assets, net	3,175,747		3,184,039		3,193,132		3,202,369		3,212,050
Tangible assets	$	80,016,905	$	78,730,231	$	77,086,618	$	75,822,704	$	76,241,850
Tangible equity ratio	7.86%		7.82%		7.80%		7.82%		7.85%

Tangible common equity ratio:
Tangible stockholders’ equity	$	6,286,930	$	6,153,578	$	6,011,022	$	5,930,845	$	5,986,000
Less: Preferred stock	283,979		283,979		283,979		283,979		283,979
Tangible common stockholders’ equity	$	6,002,951	$	5,869,599	$	5,727,043	$	5,646,866	$	5,702,021
Tangible assets	$	80,016,905	$	78,730,231	$	77,086,618	$	75,822,704	$	76,241,850
Tangible common equity ratio	7.50%		7.46%		7.43%		7.45%		7.48%

Tangible book value per common share:
Tangible common stockholders’ equity	$	6,002,951	$	5,869,599	$	5,727,043	$	5,646,866	$	5,702,021
Common shares outstanding	164,817		167,083		168,594		171,391		171,428
Tangible book value per common share	$	36.42	$	35.13	$	33.97	$	32.95	$	33.26

Core deposits:
Total deposits	$	68,175,644	$	66,314,425	$	65,575,229	$	64,753,080	$	64,514,430
Less: Certificates of deposit	6,202,906		6,069,447		6,036,144		6,041,329		6,020,031
Brokered certificates of deposit	1,372,907		1,850,438		1,486,248		2,193,625		1,400,000
Core deposits	$	60,599,831	$	58,394,540	$	58,052,837	$	56,518,126	$	57,094,399