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Retirement Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2025
Retirement Benefits [Abstract] |
Schedule of Defined Benefit Plans Disclosures | The following table summarizes the changes in the benefit obligation, fair value of plan assets, and funded status of the defined benefit pension and other postretirement benefit plans at December 31:
| Pension |  | SERP |  | OPEB
(In thousands) | 2025 | 2024 |  | 2025 | 2024 |  | 2025 | 2024
Change in benefit obligation: |  |  |  |  |  |  |  |
Beginning balance | $ | 174,112 |  | $ | 189,986 |  |  | $ | 3,598 |  | $ | 4,139 |  |  | $ | 13,667 |  | $ | 22,669 |
Benefit obligation (1) | — |  | — |  |  | 106 |  | — |  |  | — |  | — |
Service cost | — |  | — |  |  | — |  | — |  |  | 19 |  | 17 |
Interest cost | 8,775 |  | 8,648 |  |  | 172 |  | 178 |  |  | 692 |  | 956 |
Actuarial loss (gain) (2) | 4,269 |  | (13,588) |  |  | 241 |  | (260) |  |  | (88) |  | 3,637 |
Benefits paid | (11,466) |  | (10,934) |  |  | (449) |  | (459) |  |  | (741) |  | (13,612) |
Ending balance | 175,690 |  | 174,112 |  |  | 3,668 |  | 3,598 |  |  | 13,549 |  | 13,667 |
Change in plan assets: |  |  |  |  |  |  |  |
Beginning balance | 209,339 |  | 217,167 |  |  | — |  | — |  |  | — |  | — |
Actual return on plan assets (3) | 23,194 |  | 3,106 |  |  | — |  | — |  |  | — |  | — |
Employer contributions | — |  | — |  |  | 449 |  | 459 |  |  | 741 |  | 13,612 |
Benefits paid | (11,466) |  | (10,934) |  |  | (449) |  | (459) |  |  | (741) |  | (13,612) |
Ending balance | 221,067 |  | 209,339 |  |  | — |  | — |  |  | — |  | — |
Funded status (4) | $ | 45,377 |  | $ | 35,227 |  |  | $ | (3,668) |  | $ | (3,598) |  |  | $ | (13,549) |  | $ | (13,667) |
(1)Reflects the benefit obligation as of the date that the Eagle Benefit Equalization Plan was integrated into the Company’s consolidated financial statements in 2025. (2)The change in actuarial (gain) loss is primarily due to actuarial losses in 2025 resulting from a decrease in discount rates, as compared to actuarial (gains) in 2024 resulting from an increase in discount rates. (3)The increase in the actual return on plan assets for the Pension Plan is primarily due to the performance of fixed income investments, which comprise approximately 65% of the portfolio. In 2025, fixed income investments earned a positive return, as compared to a negative return in 2024. (4)The overfunded (underfunded) status of each plan is respectively included in Accrued interest receivable and other assets or Accrued expenses and other liabilities on the accompanying Consolidated Balance Sheets, as applicable. The following table sets forth by level within the fair value hierarchy the Pension Plan’s assets at fair value:
| December 31,
| 2025 |  | 2024
(In thousands) | Level 1 | Level 2 | Level 3 | Total |  | Level 1 | Level 2 | Level 3 | Total
Common collective trusts | $ | — |  | $ | 198,764 |  | $ | — |  | $ | 198,764 |  |  | $ | — |  | $ | 188,399 |  | $ | — |  | $ | 188,399 |
Registered investment companies | 22,303 |  | — |  | — |  | 22,303 |  |  | 20,940 |  | — |  | — |  | 20,940 |
Total pension plan assets | $ | 22,303 |  | $ | 198,764 |  | $ | — |  | $ | 221,067 |  |  | $ | 20,940 |  | $ | 188,399 |  | $ | — |  | $ | 209,339 |
Schedule of Assumptions Used | The following table summarizes the weighted-average assumptions used to determine the benefit obligation at December 31:
| Discount Rate
| 2025 | 2024 |
Pension: |  |  |
Webster Bank Pension Plan | 5.26 | % | 5.43 | % |
SERP: |  |  |
Webster Bank Supplemental Defined Benefit Plan for Executive Officers | 5.00 | % | 5.31 | % |
Astoria Bank Excess Benefit and Supplemental Benefit Plans | 4.67 |  | 5.14 |  |
Astoria Bank Directors’ Retirement Plan | 4.49 |  | 5.04 |  |
Eagle Benefit Equalization Plan | 4.88 |  | n/a |
Retirement Plan of the Greater New York Savings Bank for Non-Employee Directors | 4.47 |  | 5.03 |  |
Supplemental Executive Retirement Plan of Provident Bank | 4.80 |  | 5.32 |  |
Supplemental Executive Retirement Plan of Provident Bank - Other | 4.41 |  | 5.09 |  |
OPEB: |  |  |
Webster Bank Postretirement Medical Benefit Plan | 4.48 | % | 5.01 | % |
Sterling Bancorp Supplemental Postretirement Life Insurance Plan | 4.75 |  | 5.20 |  |
Astoria Bank Postretirement Welfare Benefit Plans | 5.18 |  | 5.39 |  |
The following table summarizes the weighted-average assumptions used to determine net periodic benefit (income) cost for the years ended December 31:
| Discount Rate
| 2025 | 2024 | 2023
Pension: |  |  |
Webster Bank Pension Plan | 5.43 | % | 4.76 | % | 4.96 | %
SERP: |  |  |
Webster Bank Supplemental Defined Benefit Plan for Executive Officers | 5.31 | % | 4.68 | % | 4.88 | %
Astoria Bank Excess Benefit and Supplemental Benefit Plans | 5.14 |  | 4.56 |  | 4.77 |
Astoria Bank Directors’ Retirement Plan | 5.04 |  | 4.50 |  | 4.70 |
Eagle Benefit Equalization Plan | 5.06 |  | n/a | n/a
Retirement Plan of the Greater New York Savings Bank for Non-Employee Directors | 5.03 |  | 4.50 |  | 4.70 |
Supplemental Executive Retirement Plan of Provident Bank | 5.32 |  | 4.83 |  | 5.04 |
Supplemental Executive Retirement Plan of Provident Bank - Other | 5.09 |  | 4.71 |  | 4.90 |
OPEB: |  |  |
Webster Bank Postretirement Medical Benefit Plan | 5.01 | % | 4.54 | % | 4.72 | %
Sterling Bancorp Supplemental Postretirement Life Insurance Plan | 5.20 |  | 4.51 |  | 4.70 |
Astoria Bank Postretirement Welfare Benefit Plans | 5.39 |  | 4.74 |  | 4.94 |
Split Dollar Life Insurance Arrangement | n/a | 4.45 |  | 4.63 |
| Expected Long-Term Rate of Return on Plan Assets
| 2025 | 2024 | 2023
Pension: |  |  |
Webster Bank Pension Plan | 6.00 | % | 6.00 | % | 6.00 | %
| Assumed Health Care Cost Trend Rate (1)
| 2025 | 2024 | 2023
OPEB: |  |  |
Webster Bank Postretirement Medical Benefit Plan | 7.00 | % | 6.50 | % | 6.50 | %
Astoria Bank Postretirement Welfare Benefit Plans | 7.00 |  | 6.50 |  | 6.40 |
(1)The rates to which the healthcare cost trend rates are assumed to decline (ultimate trend rates) along with the year that the ultimate trend rates will be reached are 4.40% in 2036 for the Webster Bank Postretirement Medical Benefit Plan and 4.40% in 2036 for the Astoria Bank Postretirement Welfare Benefit Plans.
Schedule of Net Periodic Benefit Cost Not yet Recognized | The following table summarizes the amounts recorded in accumulated other comprehensive (loss) that have not yet been recognized in net periodic benefit (income) cost at December 31:
| Pension |  | SERP |  | OPEB
(In thousands) | 2025 | 2024 |  | 2025 | 2024 |  | 2025 | 2024
Transition obligation | $ | — |  | $ | — |  |  | $ | 104 |  | $ | — |  |  | $ | — |  | $ | — |
Net actuarial loss (gain) | 25,686 |  | 34,440 |  |  | 207 |  | (44) |  |  | (1,613) |  | (1,788) |
Deferred tax (benefit) expense | (4,120) |  | (6,488) |  |  | (50) |  | 8 |  |  | 258 |  | 337 |
Net amount recorded in (AOCL) | $ | 21,566 |  | $ | 27,952 |  |  | $ | 261 |  | $ | (36) |  |  | $ | (1,355) |  | $ | (1,451) |
Summary of Net Periodic Benefit Cost | The following table summarizes the components of net periodic benefit (income) cost for the years ended December 31:
| Pension |  | SERP |  | OPEB
(In thousands) | 2025 | 2024 | 2023 |  | 2025 | 2024 | 2023 |  | 2025 | 2024 | 2023
Service cost | $ | — |  | $ | — |  | $ | — |  |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 19 |  | $ | 17 |  | $ | 27 |
Interest cost | 8,775 |  | 8,648 |  | 8,782 |  |  | 172 |  | 178 |  | 191 |  |  | 692 |  | 956 |  | 1,042 |
Expected return on plan assets | (12,231) |  | (12,709) |  | (11,778) |  |  | — |  | — |  | — |  |  | — |  | — |  | — |
Amortization of transition obligation | — |  | — |  | — |  |  | (2) |  | — |  | — |  |  | — |  | — |  | — |
Amortization of actuarial loss (gain) | 2,061 |  | 2,871 |  | 4,781 |  |  | (11) |  | 12 |  | 6 |  |  | (528) |  | (976) |  | (2,704) |
Other (1) | — | — | — |  |  | — | — | — |  |  | — |  | 3,212 |  | — |
Net periodic benefit (income) cost (2) | $ | (1,395) |  | $ | (1,190) |  | $ | 1,785 |  |  | $ | 159 |  | $ | 190 |  | $ | 197 |  |  | $ | 183 |  | $ | 3,209 |  | $ | (1,635) |
(1)Reflects the loss recognized upon cessation of the Split Dollar Life Insurance Arrangement in 2024. (2)Net periodic benefit (income) cost is included in Other expense on the accompanying Consolidated Statements of Income.
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) | The following table summarizes amounts recognized in other comprehensive income (loss), including reclassification adjustments, for the years ended December 31:
| Pension |  | SERP |  | OPEB
(In thousands) | 2025 | 2024 | 2023 |  | 2025 | 2024 | 2023 |  | 2025 | 2024 | 2023
Net actuarial (gain) loss | $ | (6,693) |  | $ | (3,985) |  | $ | (10,639) |  |  | $ | 241 |  | $ | (260) |  | $ | 183 |  |  | $ | (251) |  | $ | 955 |  | $ | (382) |
Amortization of transition obligation | — |  | — |  | — |  |  | 2 |  | — |  | — |  |  | — |  | — |  | — |
Amortization of actuarial (loss) gain | (2,061) |  | (2,871) |  | (4,781) |  |  | 11 |  | (12) |  | (6) |  |  | 528 |  | 976 |  | 2,704 |
Total (gain) loss recognized in OCI (OCL) | $ | (8,754) |  | $ | (6,856) |  | $ | (15,420) |  |  | $ | 254 |  | $ | (272) |  | $ | 177 |  |  | $ | 277 |  | $ | 1,931 |  | $ | 2,322 |
Schedule of Expected Benefit Payments | At December 31, 2025, the expected future benefit payments for the Company’s defined benefit pension and other postretirement benefits plans are as follows:
(In thousands) | Pension | SERP | OPEB
2026 | $ | 11,383 |  | $ | 471 |  | $ | 1,195 |
2027 | 11,890 |  | 451 |  | 1,219 |
2028 | 12,287 |  | 428 |  | 1,185 |
2029 | 12,580 |  | 404 |  | 1,153 |
2030 | 12,801 |  | 377 |  | 1,108 |
Thereafter | 65,432 |  | 1,463 |  | 5,078 |
Schedule of Multiemployer Plans | The following table summarizes information related to the Bank’s participation in the multi-employer plan:
(Dollars in thousands) |  |  |  |  |  |  |  | Contributions Years Ended December 31, |  | Funded Status At December 31,
Plan Name |  | Employer Identification Number |  | Plan Number |  | Surcharge Imposed |  | 2025 | 2024 | 2023 |  | 2025 | 2024
Pentegra Defined Benefit Plan for Financial Institutions |  | 13-5645888 |  | 333 |  | No |  | $475 | $482 | $448 |  | At least 80 percent | At least 80 percent

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