Webster Reports Fourth Quarter 2025 EPS of $1.55; Adjusted EPS of $1.59

STAMFORD, Conn.--( BUSINESS WIRE)--Webster Financial Corporation (“Webster”) (NYSE: WBS), the holding company for Webster Bank, N.A., today announced net income applicable to common stockholders of $248.7 million, or $1.55 per diluted share, for the quarter ended December 31, 2025, compared to $171.8 million, or $1.01 per diluted share, for the quarter ended December 31, 2024.

Fourth quarter 2025 results include gains on debt redemption, a charitable contribution to the Webster Foundation, asset disposal and contact termination costs, acquisition expenses, and a benefit related to the FDIC special assessment. Excluding these items, adjusted earnings per diluted share would have been $1.59 1 for the quarter ended December 31, 2025, compared to $1.43 1 for the quarter ended December 31, 2024.

“Webster continued to excel from a fundamental perspective in the fourth quarter, and we enter 2026 from a position of strength,” said John R. Ciulla, chairman and chief executive officer. “It was appropriate that Webster produced record EPS and tangible book value per share in the year of its 90th anniversary.”

Highlights for the fourth quarter of 2025:

“Our solid operating foundation enables Webster to maintain strong profitability while building scale,” said Neal Holland, senior executive vice president and chief financial officer. “We continue to invest in businesses and capabilities that enhance Webster’s strategic capabilities.”

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

2 Presented as preliminary for December 31, 2025.

Consolidated financial performance:

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

Quarterly provision for credit losses:

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

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 fourth quarter of 2024:

Quarterly income taxes compared to the fourth quarter of 2024:

Investment securities:

Loans and leases:

Asset quality:

Deposits and borrowings:

Capital:

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

2 Presented as preliminary for December 31, 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 December 31, 2025, Commercial Banking had $43.8 billion in loans and leases and $17.3 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 December 31,

Favorable/

(In thousands)

2025

2024

(Unfavorable)

Net interest income

$330,576

$330,392

0.1%

Non-interest income

36,262

41,026

(11.6)

Operating revenue

366,838

371,418

(1.2)

Non-interest expense

110,156

106,762

(3.2)

Pre-tax, pre-provision net revenue

$256,682

$264,656

(3.0)%

Percent

December 31,

Increase/

(In millions)

2025

2024

(Decrease)

Loans and leases

$43,762

$40,616

7.7%

Deposits

17,278

16,252

6.3

AUA / AUM (off balance sheet)

2,821

2,966

(4.9)

Pre-tax, pre-provision net revenue decreased $8.0 million, to $256.7 million, in the quarter as compared to the prior year. Net interest income increased $0.2 million, to $330.6 million, primarily driven by higher loan and deposit balances, partially offset by lower net spread on loans and leases. Non-interest income decreased $4.8 million, to $36.3 million, primarily driven by lower direct investment gains, partially offset by an increase in client hedging activities and higher syndication fees. Non-interest expense increased $3.4 million, to $110.2 million, primarily driven by increased investments in human capital, operational process improvements, and technology, and higher loan related 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 December 31, 2025, Healthcare Financial Services had $16.9 billion in total footings comprising $10.4 billion in deposits and $6.5 billion in AUA through linked investment accounts.

Healthcare Financial Services Operating Results:

Percent

Three months ended December 31,

Favorable/

(In thousands)

2025

2024

(Unfavorable)

Net interest income

$98,860

$95,185

3.9%

Non-interest income

27,032

25,140

7.5

Operating revenue

125,892

120,325

4.6

Non-interest expense

58,912

56,672

(4.0)

Pre-tax, pre-provision net revenue

$66,980

$63,653

5.2%

December 31,

Percent

(Dollars in millions)

2025

2024

Increase

Number of accounts (thousands)

3,453

3,326

3.8%

Deposits

$10,418

$9,967

4.5

Linked investment accounts (off balance sheet)

6,509

5,322

22.3

Total footings

$16,927

$15,289

10.7

Pre-tax, pre-provision net revenue increased $3.3 million, to $67.0 million, in the quarter as compared to the prior year. Net interest income increased $3.7 million, to $98.9 million, primarily driven by higher deposit balances, partially offset by lower deposit spreads. Non-interest income increased $1.9 million, to $27.0 million, primarily driven by higher interchange and medical fees. Non-interest expense increased $2.3 million, to $58.9 million, primarily driven by higher compensation and benefits costs and marketing expenses.

Consumer Banking

Webster’s Consumer Banking segment delivers customized financial solutions to individuals, families, and small to mid-sized businesses through its experienced relationship managers and wealth advisors across 195 banking centers located throughout the Northeast. Consumer Banking offers a full suite of deposit, lending, treasury management, and wealth management solutions. Consumer Banking also provides a fully digital banking experience through its mobile banking apps and BrioDirect. At December 31, 2025, Consumer Banking had $12.8 billion in loans and $27.7 billion in deposits, as well as $8.0 billion in AUA.

Consumer Banking Operating Results:

Percent

Three months ended December 31,

Favorable/

(In thousands)

2025

2024

(Unfavorable)

Net interest income

$210,192

$202,165

4.0%

Non-interest income

24,529

26,969

(9.0)

Operating revenue

234,721

229,134

2.4

Non-interest expense

128,766

119,123

(8.1)

Pre-tax, pre-provision net revenue

$105,955

$110,011

(3.7)%

December 31,

Percent

(In millions)

2025

2024

Increase

Loans

$12,827

$11,886

7.9%

Deposits

27,664

27,333

1.2

AUA (off balance sheet)

8,009

7,997

0.2

Pre-tax, pre-provision net revenue decreased $4.0 million, to $106.0 million, in the quarter as compared to the prior year. Net interest income increased $8.0 million, to $210.2 million, primarily driven by higher average loan and deposit balances coupled with a higher interest rate spread on loans, partially offset by a lower interest rate spread on deposits. Non-interest income decreased $2.4 million, to $24.5 million, primarily driven by lower deposit service fees and lower investment services income. Non-interest expense increased $9.6 million, to $128.8 million, primarily driven by increased investments in technology, employee-related expenses, and other miscellaneous 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 $84 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 fourth quarter 2025 earnings announcement will be held today, Friday, January 23, 2026, 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 January 23, 2026. To access the replay, dial 800-770-2030, or 1-609-800-9909 for international callers. The replay conference ID number is 8607257.

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 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 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 (“ROATCE”) 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. Adjusted pre-tax net income, adjusted net income available to common stockholders, adjusted diluted earnings per share (“EPS”), adjusted ROATCE, and adjusted return on average assets (“ROAA”) 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 19 for Non-GAAP to GAAP reconciliations.

Three Months Ended

December 31,

2025

September 30,

2025

June 30,

2025

March 31,

2025

December 31,

2024

255,820

261,217

258,848

226,917

177,766

248,701

254,051

251,695

220,367

171,760

1.55

1.54

1.52

1.30

1.01

1.23

1.27

1.29

1.15

0.91

17.10

17.64

17.96

15.93

12.73

10.91

11.23

11.31

9.94

7.80

15.19

13.77

13.22

13.14

7.94

719,411

727,897

722,046

713,321

689,566

502,156

545,327

537,050

564,708

461,751

1.27

1.32

1.35

1.34

1.31

0.35

0.28

0.27

0.42

0.47

0.88

0.99

1.00

1.06

0.88

0.89

0.99

1.00

1.06

0.88

143.69

133.82

135.08

126.39

149.47

7.77

7.86

7.82

7.80

7.82

7.42

7.50

7.46

7.43

7.45

11.71

11.89

11.86

11.76

12.06

13.69

14.68

14.05

13.96

14.24

11.22

11.39

11.35

11.25

11.54

11.29

11.37

11.40

11.47

11.56

3.35

3.40

3.44

3.48

3.44

46.95

45.79

45.40

45.79

44.80

9,208,257

9,178,698

9,053,638

8,920,175

8,849,235

57.12

55.69

54.19

52.91

51.63

37.20

36.42

35.13

33.97

32.95

62.94

59.44

54.60

51.55

55.22

0.40

161,216

164,817

167,083

168,594

171,391

160,261

164,138

165,884

169,182

169,589

160,597

164,456

166,131

169,544

170,005

December 31,

2025

September 30,

2025

December 31,

2024

370,748

498,801

388,060

2,078,777

2,563,680

1,686,374

10,009,500

9,932,344

9,006,600

7,969,575

8,077,505

8,444,191

17,979,075

18,009,849

17,450,791

14,886

75,386

27,634

22,895,350

21,912,809

20,676,965

22,334,846

21,911,298

21,391,036

9,599,577

9,509,142

8,853,669

1,767,337

1,718,832

1,583,498

56,597,110

55,052,081

52,505,168

(719,411

)

(727,897

)

(689,566

)

55,877,699

54,324,184

51,815,602

356,411

340,231

321,343

195,740

220,972

316,856

432,035

427,215

406,963

3,210,756

3,175,747

3,202,369

1,271,457

1,266,491

1,251,622

2,286,079

2,290,096

2,157,459

84,073,663

83,192,652

79,025,073

10,082,854

10,491,975

10,316,501

10,760,496

10,723,584

9,834,790

9,184,452

9,135,425

8,951,031

23,196,747

23,188,134

20,433,250

6,964,946

7,060,713

6,982,554

6,078,549

6,202,906

6,041,329

2,491,769

1,372,907

2,193,625

68,759,813

68,175,644

64,753,080

596,738

101,717

344,168

2,980,718

2,560,817

2,110,108

739,454

1,249,612

909,185

1,504,704

1,642,185

1,775,318

74,581,427

73,729,975

69,891,859

283,979

9,208,257

9,178,698

8,849,235

9,492,236

9,462,677

9,133,214

84,073,663

83,192,652

79,025,073

Three Months Ended December 31,

Twelve Months Ended December 31,

2025

2024

2025

2024

793,570

783,140

3,118,558

3,182,466

200,024

189,801

793,580

674,935

205

2,836

4,215

13,911

25,333

19,310

105,155

55,974

1,019,132

995,087

4,021,508

3,927,286

344,078

358,895

1,365,703

1,427,204

42,201

27,724

157,911

161,695

386,279

386,619

1,523,614

1,588,899

632,853

608,468

2,497,894

2,338,387

42,000

63,500

210,000

222,000

590,853

544,968

2,287,894

2,116,387

38,486

38,665

157,891

161,144

19,010

18,770

70,692

76,384

7,775

8,387

30,983

33,234

8,520

7,387

33,219

27,712

(56,886

)

220

(136,224

)

39,559

36,184

108,514

89,649

113,350

52,507

401,519

251,899

214,137

192,668

821,748

762,794

19,359

18,740

77,416

72,161

49,443

47,182

190,614

195,017

9,008

9,681

36,304

36,082

6,827

6,139

20,978

18,751

21,767

15,205

75,202

58,253

3,979

16,069

51,006

68,912

58,717

34,693

155,996

139,309

383,237

340,377

1,429,264

1,351,279

320,966

257,098

1,260,149

1,017,007

65,146

79,332

257,347

248,300

255,820

177,766

1,002,802

768,707

(4,163

)

(4,163

)

(16,650

)

(16,650

)

(2,956

)

(1,843

)

(11,291

)

(7,981

)

248,701

171,760

974,861

744,076

160,261

169,589

164,842

169,820

160,597

170,005

165,206

170,192

1.55

1.01

5.91

4.38

1.55

1.01

5.90

4.37

Three Months Ended

December 31,

2025

September 30,

2025

June 30,

2025

March 31,

2025

December 31,

2024

793,570

794,668

775,203

755,117

783,140

200,024

201,321

197,766

194,469

189,801

205

3,988

2,836

25,333

28,325

27,611

23,886

19,310

1,019,132

1,028,302

1,000,587

973,487

995,087

344,078

355,504

339,738

326,383

358,895

42,201

41,131

39,667

34,912

27,724

386,279

396,635

379,405

361,295

386,619

632,853

631,667

621,182

612,192

608,468

42,000

44,000

46,500

77,500

63,500

590,853

587,667

574,682

534,692

544,968

38,486

39,576

40,934

38,895

38,665

19,010

16,404

17,657

17,621

18,770

7,775

7,640

7,779

7,789

8,387

8,520

7,535

9,172

7,992

7,387

220

(56,886

)

39,559

29,751

19,115

20,089

36,184

113,350

100,906

94,657

92,606

52,507

214,137

209,036

199,930

198,645

192,668

19,359

19,003

19,337

19,717

18,740

49,443

47,520

45,932

47,719

47,182

9,008

8,966

9,093

9,237

9,681

6,827

4,953

5,171

4,027

6,139

21,767

17,815

18,394

17,226

15,205

3,979

15,621

15,061

16,345

16,069

58,717

33,755

32,796

30,728

34,693

383,237

356,669

345,714

343,644

340,377

320,966

331,904

323,625

283,654

257,098

65,146

70,687

64,777

56,737

79,332

255,820

261,217

258,848

226,917

177,766

(4,163

)

(4,162

)

(4,162

)

(4,163

)

(4,163

)

(2,956

)

(3,004

)

(2,991

)

(2,387

)

(1,843

)

248,701

254,051

251,695

220,367

171,760

160,261

164,138

165,884

169,182

169,589

160,597

164,456

166,131

169,544

170,005

1.55

1.52

1.30

1.01

1.55

1.54

1.52

1.30

1.01

Three Months Ended December 31,

2025

2024

Average Balance

Interest

Income/Expense

Average

Yield/Rate

Average Balance

Interest

Income/Expense

Average

Yield/Rate

55,923,138

806,142

5.66

52,255,431

794,271

5.97

18,316,926

202,355

4.42

17,982,632

192,334

4.28

346,398

4,359

4.99

301,218

4,732

6.25

2,086,698

20,974

3.93

1,201,613

14,578

4.75

35,745

205

2.30

122,449

2,836

9.27

76,708,905

1,034,035

5.31

71,863,343

1,008,751

5.53

6,692,079

6,493,521

83,400,984

78,356,864

10,371,570

10,568,678

10,636,665

46,888

1.75

9,791,961

46,235

1.88

9,141,434

3,931

0.17

8,919,071

3,485

0.16

23,344,511

194,376

3.30

20,691,482

195,767

3.76

7,071,695

28,186

1.58

6,981,131

29,008

1.65

6,148,569

52,791

3.41

6,000,296

61,094

4.05

1,753,694

17,906

4.05

1,862,771

23,306

4.98

68,468,138

344,078

1.99

64,815,390

358,895

2.20

175,013

773

1.73

191,265

853

1.74

2,661,187

28,149

4.14

1,535,140

19,063

4.86

1,071,576

13,279

4.96

886,648

7,808

3.52

3,907,776

42,201

4.26

2,613,053

27,724

4.18

72,375,914

386,279

2.12

67,428,443

386,619

2.28

1,512,037

1,742,339

73,887,951

69,170,782

283,979

9,229,054

8,902,103

9,513,033

9,186,082

83,400,984

78,356,864

647,756

622,132

(14,903

)

(13,664

)

632,853

608,468

3.35

3.44

Twelve Months Ended December 31,

2025

2024

Average Balance

Interest

Income/Expense

Average

Yield/Rate

Average Balance

Interest

Income/Expense

Average

Yield/Rate

54,045,716

3,166,033

5.86

51,597,443

3,224,653

6.25

18,257,943

802,747

4.40

17,356,753

690,265

3.98

340,547

17,285

5.08

330,418

18,633

5.64

2,031,837

87,870

4.32

723,688

37,341

5.16

79,128

4,215

5.33

143,812

13,911

9.67

74,755,171

4,078,150

5.46

70,152,114

3,984,803

5.68

6,553,102

6,461,020

81,308,273

76,613,134

10,227,051

10,387,807

10,158,941

177,482

1.75

9,555,367

180,326

1.89

9,177,995

15,012

0.16

8,650,485

13,139

0.15

22,161,593

769,422

3.47

19,354,659

784,527

4.05

7,217,900

118,766

1.65

6,879,935

106,096

1.54

6,094,856

213,459

3.50

5,896,230

253,743

4.30

1,653,423

71,562

4.33

1,701,382

89,373

5.25

66,691,759

1,365,703

2.05

62,425,865

1,427,204

2.29

167,269

3,298

1.97

142,025

1,098

0.77

54,303

3,015

5.55

2,508,404

111,183

4.43

2,296,048

125,329

5.46

951,555

43,430

4.56

903,603

32,253

3.57

3,627,228

157,911

4.35

3,395,979

161,695

4.76

70,318,987

1,523,614

2.17

65,821,844

1,588,899

2.41

1,615,374

1,871,615

71,934,361

67,693,459

283,979

9,089,933

8,635,696

9,373,912

8,919,675

81,308,273

76,613,134

2,554,536

2,395,904

(56,642

)

(57,517

)

2,497,894

2,338,387

3.42

December 31,

2025

September 30,

2025

June 30,

2025

March 31,

2025

December 31,

2024

21,664,119

20,654,331

19,943,097

19,495,784

19,272,958

1,231,231

1,258,478

1,350,006

1,385,042

1,404,007

22,334,846

21,911,298

21,358,775

21,383,144

21,391,036

9,599,577

9,509,142

9,332,413

9,123,000

8,853,669

1,767,337

1,718,832

1,687,668

1,669,253

1,583,498

56,597,110

55,052,081

53,671,959

53,056,223

52,505,168

(719,411

)

(727,897

)

(722,046

)

(713,321

)

(689,566

)

55,877,699

54,324,184

52,949,913

52,342,902

51,815,602

21,244,671

20,451,639

19,703,434

19,167,596

18,919,934

1,259,776

1,289,208

1,360,288

1,409,177

1,449,743

22,082,606

21,508,546

21,302,161

21,338,147

21,572,682

9,584,853

9,416,499

9,228,988

8,985,033

8,740,658

1,751,232

1,707,068

1,683,026

1,668,453

1,572,414

55,923,138

54,372,960

53,277,897

52,568,406

52,255,431

December 31,

2025

September 30,

2025

June 30,

2025

March 31,

2025

December 31,

2024

174,073

223,398

231,458

279,831

268,354

66,911

58,797

44,405

42,207

20,815

224,623

227,118

224,554

207,402

138,642

17,889

16,843

15,748

15,715

12,500

17,188

17,772

18,357

19,243

21,015

500,684

543,928

534,522

564,398

461,326

1,082

1,399

2,528

310

425

390

1,472

1,399

2,528

310

425

502,156

545,327

537,050

564,708

461,751

16,428

10,934

16,338

27,304

16,619

21,997

24,962

27,812

16,241

33,030

51,556

15,194

17,000

12,664

16,406

14,113

9,902

8,730

9,516

9,906

9,122

66,486

64,476

54,759

86,646

113,407

1,152

507

66,486

65,628

54,759

87,153

113,407

Three Months Ended

December 31,

2025

September 30,

2025

June 30,

2025

March 31,

2025

December 31,

2024

727,897

722,046

713,321

689,566

687,798

41,005

44,205

45,126

78,712

62,639

48,492

37,914

39,792

55,566

63,281

2,994

2,034

1,446

1,052

1,265

51,486

39,948

41,238

56,618

64,546

556

765

3,250

942

2,779

1,439

829

1,587

719

896

1,995

1,594

4,837

1,661

3,675

49,491

38,354

36,401

54,957

60,871

719,411

727,897

722,046

713,321

689,566

24,117

23,117

22,824

21,443

22,593

Three Months Ended

December 31,

2025

September 30,

2025

June 30,

2025

March 31,

2025

December 31,

2024

383,237

356,669

345,714

343,644

340,377

(577

)

1,535

541

517

(32

)

9,008

8,966

9,093

9,237

9,681

121

20,000

6,966

1,129

(10,318

)

357,029

346,165

336,071

333,874

330,607

632,853

631,667

621,182

612,192

608,468

14,903

14,258

13,870

13,611

13,664

113,350

100,906

94,657

92,606

52,507

9,142

9,234

10,528

11,032

6,564

121

220

(56,886

)

9,767

760,481

756,062

740,228

729,205

737,968

46.95

45.79

45.40

45.79

44.80

255,820

261,217

258,848

226,917

177,766

4,163

4,162

4,163

6,565

6,534

6,627

6,732

7,648

258,222

263,589

261,313

229,486

181,251

1,032,888

1,054,356

1,045,252

917,944

725,004

9,513,033

9,440,148

9,294,023

9,245,030

9,186,082

283,979

3,190,386

3,180,111

3,188,946

3,198,123

3,207,554

6,038,668

5,976,058

5,821,098

5,762,928

5,694,549

17.10

17.64

17.96

15.93

12.73

December 31,

2025

September 30,

2025

June 30,

2025

March 31,

2025

December 31,

2024

9,492,236

9,462,677

9,337,617

9,204,154

9,133,214

3,210,756

3,175,747

3,184,039

3,193,132

3,202,369

6,281,480

6,286,930

6,153,578

6,011,022

5,930,845

84,073,663

83,192,652

81,914,270

80,279,750

79,025,073

3,210,756

3,175,747

3,184,039

3,193,132

3,202,369

80,862,907

80,016,905

78,730,231

77,086,618

75,822,704

7.77

7.86

7.82

7.80

7.82

6,281,480

6,286,930

6,153,578

6,011,022

5,930,845

283,979

5,997,501

6,002,951

5,869,599

5,727,043

5,646,866

80,862,907

80,016,905

78,730,231

77,086,618

75,822,704

7.42

7.50

7.46

7.43

7.45

5,997,501

6,002,951

5,869,599

5,727,043

5,646,866

161,216

164,817

167,083

168,594

171,391

37.20

36.42

35.13

33.97

32.95

68,759,813

68,175,644

66,314,425

65,575,229

64,753,080

6,078,549

6,202,906

6,069,447

6,036,144

6,041,329

2,491,769

1,372,907

1,850,438

1,486,248

2,193,625

60,189,495

60,599,831

58,394,540

58,052,837

56,518,126

Three Months Ended

December 31, 2025

Twelve Months Ended

December 31, 2025

255,820

1,002,802

(7,176

)

(7,176

)

14,576

5,082

1,055

(7,519

)

(7,519

)

261,838

1,008,820

1,047,352

1,008,820

83,400,984

81,308,273

1.26

1.24

255,820

1,002,802

4,163

16,650

6,565

26,457

(7,176

)

(7,176

)

14,576

5,082

1,055

(7,519

)

(7,519

)

264,240

1,018,627

1,056,960

1,018,627

9,513,033

9,373,912

283,979

3,190,386

3,189,345

6,038,668

5,900,588

17.50

17.26

9,513,033

9,373,912

283,979

9,229,054

9,089,933

255,820

1,002,802

4,163

16,650

(7,176

)

(7,176

)

14,576

5,082

1,055

(7,519

)

(7,519

)

257,675

992,170

1,030,700

992,170

11.17

10.92

Three Months Ended December 31, 2025

Pre-Tax Income

Income Applicable to

Common Stockholders

Diluted EPS

321.0

248.7

1.55

(9.8

)

(7.2

)

(0.04

)

20.0

14.6

0.09

7.0

5.1

0.03

1.1

0.01

(10.3

)

(7.5

)

(0.05

)

329.0

254.7

1.59

Twelve Months Ended December 31, 2025

Pre-Tax Income

Income Applicable to

Common Stockholders

Diluted EPS

1,260.1

974.9

5.90

(9.8

)

(7.2

)

(0.04

)

20.0

14.6

0.09

7.0

5.1

0.03

1.1

0.01

(10.3

)

(7.5

)

(0.05

)

1,268.2

980.9

5.94

Three Months Ended December 31, 2024

Pre-Tax Income

Income Applicable to

Common Stockholders

Diluted EPS

257.1

171.8

1.01

56.9

41.8

0.25

N/A

29.4

0.17

314.0

243.0

1.43

Twelve Months Ended December 31, 2024

Pre-Tax Income

Income Applicable to

Common Stockholders

Diluted EPS

1,017.0

744.1

4.37

136.2

102.1

0.60

16.0

11.6

0.07

22.2

16.2

0.10

10.3

7.8

0.04

3.1

2.4

0.01

(11.7

)

(8.8

)

(0.05

)

N/A

10.9

0.07

N/A

29.4

0.17

1,193.1

915.7

5.38