Laura Havener Hunsicker's questions to Webster Financial Corp (WBS) leadership • Q1 2025
Question
Laura Havener Hunsicker from Seaport Research Partners requested specific credit metrics, including the non-performing loan level in the sponsor and specialty book. She also pointed out apparent large shifts in non-performers for traditional office and ADC construction based on the slide deck.
Answer
Management did not provide a specific non-performing number for the sponsor book on the call. Executive Emlen Harmon clarified that the figures for traditional office and ADC construction non-performers contained typos in the presentation materials. He corrected the traditional office non-accrual rate to 20%, up from 15% last quarter, not down to 2% as the slide mistakenly showed. CEO John Ciulla also corrected the ADC construction figure, stating there was no large jump in NPLs in that category.