WBS on NYSE

Webster Bank

Logo: Webster Bank, Public domain, via Wikimedia Commons5

American regional bank

Webster Bank is an American commercial bank based in Stamford, Connecticut. A wholly owned subsidiary of Santander Bank, N. A. since August 20 2026. It has 177 branches and 316 ATMs located in Connecticut; Massachusetts; Rhode Island; New Jersey; Westchester, Orange, Ulster, and Rockland counties in New York as well as New York City.3 Its shares trade on NYSE under the symbol WBS.1 Wikipedia text CC BY-SA 4.0

Price unavailable

Last updated Oct 21, 2026.

Overview

1935Founded1

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  • TickerWBS on NYSE1
  • Industryfinance1
  • HeadquartersStamford1
  • Websitewww.websterbank.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business address200 Elm Street, Stamford, Ct 069026
  • Filer categoryLarge accelerated filer6
  • LEIKMRURHT0VWKYS6Z5KU674
  • StatusInactive4
  • LEI statusRetired4
  • Registered addressC/O RESIDENT AGENTS INC., 19901 Dover, United States4
  • Registered withDivision of Corporations, Department of State, 21011184
Webster Bank, Hamden CT
Photo: John Phelan, CC BY-SA 3.0, via Wikimedia Commons9

Webster Bank is an American commercial bank based in Stamford, Connecticut. A wholly owned subsidiary of Santander Bank, N. A. since August 20 2026. It has 177 branches and 316 ATMs located in Connecticut; Massachusetts; Rhode Island; New Jersey; Westchester, Orange, Ulster, and Rockland counties in New York as well as New York City.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

617.8%Operating margin10
421.4%Net margin10
-3.1%Revenue growth, 202510
10.6%Return on equity10
0.08×Debt to equity10
$1.0BFree cash flow10

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Interest55¢$1.5B
  • Income tax9¢$257.3M
  • Profit36¢$1.0B

Out of $238.0M in revenue.10

Where each dollar of operating cash went, fiscal 2025

  • Capital spending5¢$49.6M
  • Dividends paid25¢$266.8M
  • Share buybacks56¢$593.7M
  • Kept or used elsewhere14¢$148.1M

Out of $1.1B of cash from operations.10

Financial statements

Revenue1112131410$238.0M in 2025+14% since 2019
0$100.0M$200.0M$300.0M2019: $208.3M$208.3M20192020: $198.7M$198.7M2020−5%2021: $212.4M$212.4M2021+7%2022: $268.7M$268.7M2022+26%2023: $233.4M$233.4M2023−13%2024: $245.7M$245.7M2024+5%2025: $238.0M$238.0M2025−3%
Operating income1112131410$1.5B in 2025+180% since 2019
0$500.0M$1.0B$1.5B2019: $524.5M$524.5M20192020: $417.7M$417.7M2020−20%2021: $479.4M$479.4M2021+15%2022: $1.1B$1.1B2022+125%2023: $1.2B$1.2B2023+15%2024: $1.2B$1.2B2024+0%2025: $1.5B$1.5B2025+19%
Net income1112131410$1.0B in 2025+162% since 2019
0$500.0M$1.0B$1.5B2019: $382.7M$382.7M20192020: $220.6M$220.6M2020−42%2021: $408.9M$408.9M2021+85%2022: $644.3M$644.3M2022+58%2023: $867.8M$867.8M2023+35%2024: $768.7M$768.7M2024−11%2025: $1.0B$1.0B2025+30%
Fiscal year2019202020212022202320242025
Revenue$208.3M11$198.7M12$212.4M13$268.7M14$233.4M10$245.7M10$238.0M10
Operating income$524.5M11$417.7M12$479.4M13$1.1B14$1.2B10$1.2B10$1.5B10
Interest$199.5M11$110.7M12$41.8M13$250.5M14$1.3B10$1.6B10$1.5B10
Income before tax$533.9M13$798.0M14$1.1B10$1.0B10$1.3B10
Income tax$104.0M11$59.4M12$125.0M13$153.7M14$216.7M10$248.3M10$257.3M10
Net income$382.7M11$220.6M12$408.9M13$644.3M14$867.8M10$768.7M10$1.0B10
Earnings per share$4.0711$2.3512$4.4313$3.7214$4.9110$4.3810$5.9110
Earnings per share (diluted)$4.0611$2.3512$4.4213$3.7214$4.9110$4.3710$5.9010
Shares (weighted, basic)90.0M shares13167.5M shares14171.8M shares10169.8M shares10164.8M shares10
Shares (weighted, diluted)90.2M shares13167.5M shares14171.9M shares10170.2M shares10165.2M shares10

Compare Webster Bank with another company

Corporate structure

Webster Bank sits at the top of its group. 6 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Webster Bank

  • Webster Bank Stamford, Connecticut, United States
    • Marathon Direct Lending SLP, LLC Subsidiary · Delaware, United States
    • MW Advisor Holding, LLC Subsidiary · Delaware, United States
    • MW Advisor, LLC Subsidiary · Delaware, United States
    • Sterling Silver Abstract LLC Subsidiary · New Jersey, United States
    • Sterling Silver Title Agency L.P. Subsidiary · New Jersey, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Webster Bank reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land$73.4M10 Dec 31, 2025$73.4M10 Dec 31, 20240%
Buildings and improvements$105.2M10 Dec 31, 2025$102.1M10 Dec 31, 2024+3.0%
Computer equipment and software$118.8M10 Dec 31, 2025$103.8M10 Dec 31, 2024+14.4%
Leasehold improvements$76.0M10 Dec 31, 2025$74.3M10 Dec 31, 2024+2.3%
Property and equipment, net$432.0M10 Dec 31, 2025$407.0M10 Dec 31, 2024+6.2%
Operating-lease assets (leased space)$176.7M10 Dec 31, 2025$163.8M10 Dec 31, 2024+7.8%

Investments

ItemLatestA year beforeChange
Loans, net of allowance$55.9B10 Dec 31, 2025$51.8B10 Dec 31, 2024+7.8%
Deposits held (banks)$68.8B10 Dec 31, 2025$64.8B10 Dec 31, 2024+6.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$2.9B10 Dec 31, 2025$2.9B10 Dec 31, 2024+1.0%
Finite-lived intangibles, gross$475.7M10 Dec 31, 2025$461.0M10 Dec 31, 2024+3.2%
Accumulated amortization$162.5M10 Dec 31, 2025$126.7M10 Dec 31, 2024+28.2%
Finite-lived intangibles, net$313.2M10 Dec 31, 2025$334.3M10 Dec 31, 2024−6.3%

Properties, in its own words

The Company’s corporate headquarters is located in Stamford, Connecticut. This leased facility houses the Company’s primary executive and administrative functions and serves as the principal banking headquarters of the Bank. Additional corporate functions are housed in owned facilities in Waterbury, and in leased facilities in Southington, Hartford, and New Haven, Connecticut; Providence, Rhode Island; Boston, Massachusetts; Jericho, White Plains, and New York, New York; and Paramus, New Jersey. The Company considers its properties to be suitable and adequate for its current business needs.

Commercial Banking maintains leased facilities across a geographic footprint that ranges from Massachusetts to California. Offices are located in Boston, Massachusetts; Westerly, Rhode Island; Garden City, New York; Conshohocken, Pennsylvania; Baltimore, Maryland; Atlanta, Georgia; Dallas, Texas; and Ladera Ranch, California.

The rest of Item 2

Healthcare Financial Services includes HSA Bank and Ametros. HSA Bank maintains leased facilities in Milwaukee and Sheboygan, Wisconsin, and Ametros maintains a leased facility in Wilmington, Massachusetts.

Consumer Banking operates a distribution network that consists of 195 banking centers:

Location · Leased · Owned · Total

Connecticut · 61 · 34 · 95

Massachusetts · 8 · 9 · 17

Rhode Island · 4 · 3 · 7

New York · 37 · 39 · 76

Total · 110 · 85 · 195

Additional information regarding the Company’s owned facilities and leased locations can be found within Note 5: Premises and Equipment and Note 6: Leasing, respectively, in the Notes to Consolidated Financial Statements contained in Part II - Item 8. Financial Statements and Supplementary Data.

Item 2 of the 10-K filed Feb 27, 2026.18

The story

Webster was founded in 1935 by Harold Webster Smith as the First Federal Savings of Waterbury in Connecticut. While Smith initially borrowed from family and friends to open the bank, by 1938 its assets had grown to over $1 million.

In 1986, First Federal converted to stock ownership and formed a holding company. Smith served as CEO until 1987, when he was succeeded by his son, James C. Smith. Smith Sr. continued as chairman.

First Federal was renamed to Webster Bank in 1995. The same year, Harold Smith retired and was succeeded by his son.

In 1997, Webster Trust Company, N.A. and Investment Services were added to the bank's offerings. Webster acquired Eagle Bank of Bristol and became the first bank in Connecticut to purchase an insurance agency the following year.

In 2002, Webster became listed on the New York Stock Exchange under the ticker symbol “WBS”.

IWebster announced a definitive agreement in 2003 to acquire Firstfed America Bancorp, INC., the holding company for First Federal Savings Bank of America. The deal, which closed in May 2004, marked Webster's first retail expansion beyond Connecticut's borders and into the southeastern Massachusetts and Rhode Island markets. It was also announced in 2004 that the Office of the Comptroller of the Currency (OCC) had accepted the company's application to be a chartered commercial bank.

In 2005, it acquired HSA Bank and became the leading bank administrator and trustee of health savings accounts in the United States. Webster acquired NewMil Bank in 2006.

Webster acquired 17 Citibank branches in the Boston area in 2016 and added additional ATMs to support the network.

Read the full text

In 2022, Webster acquired Sterling National Bank and moved its headquarters from Waterbury to Stamford. The Sterling acquisition was valued at $10 billion. In June 2022, Webster had approximately $25.9 billion in deposits in Connecticut.

Webster acquired Ametros Financial, a medical insurance settlement fund manager, for $350 million in 2023.

On February 3, 2026, Banco Santander announced that it will acquire Webster Financial Corporation in a cash and stock deal valued at $12.2 billion. Under the agreement, Webster would operate as a wholly-owned subsidiary of Banco Santander. The acquisition would position Santander as one of the top ten banks in the U.S., with approximately $327 billion in combined assets. Webster shareholders earned $75 per share, consisting of $48.75 in cash and $26.25 in Santander stock. The transaction closed on August 20 2026. The Webster brand is expected to remain in use until 2027, when the bank is expected to fully consolidate under the Santander name.

From Wikipedia’s article on Webster Bank, shared under CC BY-SA 4.0.7

Leadership

Who has led Webster Bank, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (66)

Products and brands

  • bank

Listed on Wikidata.1

Webster Financial Corporation is the holding company for Webster Bank, N.A. and Webster Insurance. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation, the insurance premium finance company Budget Installment Corporation, Webster Capital Finance, and provides health savings account trustee and administrative services through HSA Bank of Sheboygan, Wisconsin, a division of Webster Bank.

In 2015, Webster Bank had over $24 billion in assets and a market capitalization of over $3 billion. Its network included over 177 branches and 316 ATMs located in Connecticut; Massachusetts; Rhode Island; and Westchester County, New York.

After the $5 billion USD 2022 merger with Sterling, assets rose to $65 billion, with 202 branches, 380 ATMs, and a larger presence throughout the metropolitan New York city area, including New Jersey. In 2024, it was the largest bank headquartered in Connecticut based on deposits, which in-state totaled $33 billion. John Ciulla was chairman and CEO.

From Wikipedia’s article on Webster Bank, shared under CC BY-SA 4.0.7

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • MW Advisor Holding, LLC Delaware8
  • MW Advisor, LLC Delaware8
  • Marathon Direct Lending SLP, LLC Delaware8
  • Sterling Silver Abstract LLC New Jersey8
  • Sterling Silver Title Agency L.P. New Jersey8

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Aug 20, 20268-K Completed an acquisition or sale; Listing notice or transfer; Change to shareholders' rights98
  2. Aug 5, 20268-K Other events99
  3. Jul 21, 20268-K Results of operations100
  4. Jun 16, 20268-K Other events101
  5. May 27, 20268-K Shareholder vote102
  6. May 18, 20268-K Other events103
  7. Apr 28, 20268-K Results of operations104
  8. Feb 6, 20268-K Entered a material agreement105
  9. Feb 3, 20268-K Other events106
  10. Jan 23, 20268-K Results of operations; Regulation FD disclosure107
  11. Jan 23, 20268-K Results of operations; Regulation FD disclosure108
  12. Jan 9, 20268-K Executive or director change109
  13. Feb 9, 2018New chief executive John R. Ciulla becomes CEO19
  14. Mar 3, 1992Went public Listed on NYSE1
  15. 1935Founded Founded1

Calendar

When it reported results

  1. Jul 21, 2026Reported quarterly or annual results100
  2. Apr 28, 2026Reported quarterly or annual results104
  3. Jan 23, 2026Reported quarterly or annual results107
  4. Jan 23, 2026Reported quarterly or annual results108
  5. Oct 17, 2025Reported quarterly or annual results110
  6. Jul 17, 2025Reported quarterly or annual results111
  7. Apr 24, 2025Reported quarterly or annual results112
  8. Jan 17, 2025Reported quarterly or annual results113

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

611 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 53 major events, 403 insider forms, 19 large holders, 115 other. The latest 20:

  1. Sep 30, 202615-12G EDGAR
  2. Aug 31, 202615-12G EDGAR
  3. Aug 31, 202615-12G EDGAR
  4. Aug 21, 20264 EDGAR
  5. Aug 21, 20264 EDGAR
  6. Aug 21, 20264 EDGAR
  7. Aug 21, 20264 EDGAR
  8. Aug 21, 20264 EDGAR
  9. Aug 21, 20264 EDGAR
  10. Aug 21, 20264 EDGAR
  11. Aug 21, 20264 EDGAR
  12. Aug 21, 20264 EDGAR
  13. Aug 21, 20264 EDGAR
  14. Aug 21, 20264 EDGAR
  15. Aug 21, 20264 EDGAR
  16. Aug 21, 20264 EDGAR
  17. Aug 21, 20264 EDGAR
  18. Aug 21, 20264 EDGAR
  19. Aug 21, 20264 EDGAR
  20. Aug 21, 20264 EDGAR

The 611 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

67 open-market trades by officers, directors and large owners since October 2021: 2 buys and 65 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 18, 2026CIULLA JOHN RChairman and CEOSale8,000$71.67$573.4KForm 4
Feb 17, 2026CIULLA JOHN RChairman and CEOSale8,000$71.91$575.3KForm 4
Dec 8, 2025Weidner MarissaChief Corp. Resp. OfficerSale2,500$62.98$157.4KForm 4
Dec 8, 2025MADAR GREGORYChief Accounting OfficerSale654$62.63$41.0KForm 4
Nov 17, 2025CIULLA JOHN RChairman and CEOSale8,000$55.45$443.6KForm 4
Sep 15, 2025CIESLIK ELZBIETAEVP & CAO of BankSale2,000$61.58$123.2KForm 4
Sep 12, 2025CIESLIK ELZBIETAEVP & CAO of BankSale1,000$61.62$61.6KForm 4
Sep 8, 2025HAYLES CAROLDirectorSale4,841$61.58$298.1KForm 4
Aug 28, 2025GRIFFIN JAMES MIHead of Consumer BankingSale807$62.14$50.1KForm 4
Aug 14, 2025CIULLA JOHN RChairman and CEOSale8,000$57.95$463.6KForm 4
Jul 28, 2025ATWELL WILLIAM LDirectorSale16,823$59.19$995.8KForm 4
Jul 22, 2025Wang Albert Jen-WenChief Accounting OfficerSale3,250$60.31$196.0KForm 4
Jul 21, 2025SOTO JASON A.Chief Credit OfficerSale2,500$61.21$153.0KForm 4
Jul 21, 2025GRIFFIN JAMES MIHead of Consumer BankingSale2,065$60.56$125.1KForm 4
Jun 6, 2025WILKINS CHARLES LHead of HSA BankSale5,000$53.25$266.2KForm 4
May 28, 2025Evans Javier L.Chief Human Resources OfficerSale7,800$52.58$410.1KForm 4
May 22, 2025States LaurenDirectorSale2,200$50.80$111.8KForm 4
May 14, 2025GRIFFIN JAMES MIHead of Consumer BankingSale1,502$53.20$79.9KForm 4
May 12, 2025BLEY DANIELChief Risk OfficerSale1,200$53.08$63.7KForm 4
May 5, 2025BLEY DANIELChief Risk OfficerSale1,200$49.97$60.0KForm 4

All 67 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024John R. Ciulla59$1.1M$6.1M120
2024Luis R. Massiani48$884.6K$4.3M120
2024Christopher J. Motl54$800.0K$3.5M120
2024Glenn I. MacInnes$615.0K$2.4M120
2024Jack Kopnisky$139.6K$2.3M120
2024Neal Holland47$275.0K$2.1M120
2024Kristy Berner50$500.0K$2.0M120
2023Chairman of the Board and Chief Executive Officer$1.1M$7.7M120
2023Executive Chairman (retired)$1.1M$7.5M120
2023President and Chief Operating Officer$790.4K$3.2M120
2023President of Commercial Banking$771.2K$2.7M120
2023Chief Financial Officer$612.1K$2.1M120
2022Chairman of the Board and Chief Executive Officer$1.1M$8.1M120
2022Executive Chairman (retired)$1.0M$6.9M120
2022President and Chief Operating Officer$703.6K$6.2M120
2022President of Commercial Banking$616.9K$4.8M120
2022(through August 2024)$590.8K$3.4M120

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Mar 11, 2025Julie JohnsonDemocratic, HouseSale$1,001 - $15,000Report
Apr 10, 2023Daniel S. GoldmanDemocratic, HouseBuy$15,001 - $50,000Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Webster Bank is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARWEBSTER FINANCIAL CORP2
  • CIK0000801337
  • Employer ID (EIN)06-118753618
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company18
  • Incorporated inDelaware18
  • Fiscal year endsDecember 312
  • Industry code (SIC)6021 National Commercial Banks2
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance2
  • Business address200 Elm Street, Stamford, CT 069022
  • Phone203-578-22022
  • Shares outstanding162,033,448 as of Jul 24, 202616
  • Public float$9.1B as of Jun 30, 202518
  • AuditorKPMG LLP, New York, New York PCAOB ID 185; it also attests to the company’s internal control over financial reporting18
  • On EDGAR sinceFeb 14, 19942
  • Filings2,970 in all: 4 (1,668), 8-K (399), 5 (163), 10-Q (95), SC 13G/A (73), 3 (63), 425 (50), 144 (49)2
    All 59 form types

    11-K (35), 10-K (31), DEF 14A (31), 4/A (29), S-8 POS (23), 424B3 (20), SC 13G (18), S-4/A (17), S-8 (17), S-4 (14), UPLOAD (14), DEFA14A (13), FWP (12), 8-K/A (11), S-3 (11), CORRESP (9), S-3/A (9), SC 13D/A (9), S-3ASR (7), 424B5 (5), 8-A12B (5), ARS (5), PRE 14A (5), 10-Q/A (4), 424B2 (4), POS AM (4), SC 13D (4), 10-K/A (3), 15-12G (3), 25-NSE (3), 424B7 (3), CERTNYS (3), SC TO-I/A (3), 11-K/A (2), 305B2 (2), 424B1 (2), CERT (2), EFFECT (2), NT 11-K (2), SCHEDULE 13G (2), SCHEDULE 13G/A (2), 144/A (1), 15-12B (1), 3/A (1), 5/A (1), DEFM14A (1), NT 10-K (1), NT 10-Q (1), POSASR (1), REGDEX (1), SC TO-I (1)

  • Latest filingsAnnual report (10-K) Feb 27, 2026
    Quarterly report (10-Q) Jul 27, 2026
    Proxy statement (DEF 14A) Apr 11, 2025
    Latest 8-K (8-K) Aug 20, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.01 per shareWBSNew York Stock Exchange
Depositary Shares, each representing 1/1000th interest in a shareWBS-PrFNew York Stock Exchange
Depositary Shares, each representing 1/40th interest in a shareWBS-PrGNew York Stock Exchange

From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).18

Risk factors and legal proceedings

The risks Webster Bank names in Item 1A of its 10-K filed Feb 27, 2026: 53 risks under these headings, as written.18

  • Risks Related to the Proposed Transaction with Banco Santander
  • Risks Related to Credit
  • Risks Related to Liquidity
  • Risks Related to Market/Price
  • Risks Related to Operations
  • Risks Related to Compliance
  • Risks Related to Strategy
  • Failure to complete the Transaction could negatively affect our stock price and our future business and financial results.
  • We will be subject to business uncertainties and contractual restrictions while the Transaction is pending.
  • Because the market price of ADSs (or Ordinary Shares, as applicable) may fluctuate, our stockholders cannot be certain of the precise value of the consideration they may receive in the Transaction.
  • The Transaction Agreement may be terminated and the Transaction may not be completed.
  • Regulatory approvals may not be received, may take longer than expected, or may impose conditions that are not presently anticipated or that could have an adverse effect on the combined company following the Transaction.
The other 48 risks
  • We have incurred, and are expected to incur, substantial costs related to the Transaction and related integration.
  • Combining us and Banco Santander may be more difficult, costly, or time-consuming than expected, and the combined company may fail to realize the anticipated benefits of the Transaction.
  • Our allowance for credit losses on loans and leases may be insufficient.
  • The soundness of other financial institutions and other third parties, actual or perceived, could adversely affect our business.
  • We are subject to the risk of default by our counterparties and clients, particularly with respect to certain types of commercial loans.
  • We are subject to commercial lending concentration risks.
  • Realized and unrealized losses in our financial instruments, including in both our available-for-sale securities portfolio and held-to-maturity securities portfolio, could negatively impact our business, financial condition, and results of operations.
  • The proportion of our deposit account balances that exceed the FDIC insurance limits may expose the Bank to enhanced liquidity risk in times of financial distress.
  • A reduction in our credit rating could adversely affect our access to capital and could increase our cost of funds.
  • We may be subject to more stringent capital and liquidity requirements, which could limit our business activities.
  • Our ability to grow is contingent upon access to capital, which may not be readily available to us.
  • Difficult conditions or volatility in the U.S. economy and financial markets may have a materially adverse effect on our business, financial condition, and results of operations.
  • Our profitability depends significantly on local economic conditions in the states in which we conduct business.
  • Changes in interest rates and spreads, including the level and shape of the yield curve, may have a materially adverse effect on our business, financial condition, and results of operations.
  • Changes in our financial condition or in the general banking industry, or changes in interest rates, could result in a loss of depositor confidence.
  • Our stock price can be volatile.
  • The Company may not pay dividends to stockholders if it is not able to receive dividends from its subsidiary, the Bank.
  • Higher mortgage rates and low inventory adversely impact our ability to originate or refinance residential mortgage loans.
  • We rely on third parties to perform significant operational services for us.
  • Our business may be adversely affected by fraud.
  • Our internal controls may be ineffective, circumvented, or fail.
  • Climate change manifesting as physical or transition risks could adversely affect our operations, businesses, and customers.
  • We are exposed to environmental liability risk with respect to properties to which we obtain title.
  • There may be risks resulting from the extensive use of models in our business.
  • The development and use of AI, including by third parties, presents risks and challenges that may adversely impact our business.
  • A failure or breach of our information systems, including as a result of cyber-attacks, could disrupt our businesses, result in the misuse of confidential or proprietary information, damage our reputation, and cause losses.
  • We may not be able to successfully implement current or future information technology system enhancements and operational initiatives, which could adversely affect our business operations and profitability.
  • Changes in our accounting policies or in accounting standards could materially impact how we report our financial results.
  • The preparation of our consolidated financial statements requires the use of estimates that may vary from actual results.
  • A significant merger or acquisition requires us to make estimates, including the fair values of assets acquired and liabilities assumed.
  • If our goodwill were determined to be impaired, it could have a negative impact on our profitability.
  • We face risks related to the adoption of future legislation and potential changes in federal regulatory agency leadership, policies, and priorities.
  • Changes in federal, state, or local tax laws may negatively impact our financial performance.
  • We are subject to extensive government regulation and supervision, which may interfere with our ability to conduct our business operations.
  • Significant changes to the size and operations of the federal government agencies may cause economic disruptions that could adversely impact our business, results of operations and financial condition.
  • Regulatory compliance expense may increase substantially when we reach $100 billion in assets, which is the next regulatory tier above us now. Moreover, we expect such costs to increase significantly as we approach that size.
  • We are subject to examinations and challenges by taxing authorities.
  • Health care reform could adversely affect our Healthcare Financial Services segment.
  • We are subject to financial and reputational risks from potential liability arising from lawsuits.
  • We are subject to complex state and federal laws and regulations regarding data privacy and security, which impact how we conduct our business.
  • New lines of business or new products and services may subject us to additional risk.
  • We may not be able to attract and retain skilled people, and the loss of key employees or the inability to maintain appropriate staffing may disrupt relationships with customers and adversely impact our business.
  • We operate in a highly competitive industry and market area.
  • Failure to keep pace with and adapt to technological change could adversely impact our business.
  • The loss of key partnerships could adversely affect our Healthcare Financial Services segment and interSYNC operations.
  • Our investments in certain tax-advantaged projects may not generate returns as anticipated, or at all, and may have an adverse impact on our results of operations.
  • Increasing scrutiny and evolving expectations from customers, regulators, investors, and other stakeholders with respect to our corporate responsibility practices may impose additional costs on us or expose us to new or additional risks.
  • Our reputation and client relationships may be damaged as a result of our practices related to climate change.

Legal proceedings

Information regarding legal proceedings can be found within Note 22: Commitments and Contingencies in the Notes to Consolidated Financial Statements contained in Part II - Item 8. Financial Statements and Supplementary Data, which is incorporated herein by reference.

The opening of Item 3, Legal Proceedings.18

Sources

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