WATERBURY, Conn., Jan. 11, 2016 /PRNewswire/ -- Webster
Financial Corporation (NYSE: WBS), the holding company for
Webster Bank, a $24 billion regional bank, announced today that
Webster Bank will open three
additional banking centers in the greater Boston area, bringing its total network in the
area to 18. The new locations are: 25 Stuart Street (Chinatown),
Boston, 1 Brattle Square
(Harvard Square), and 475 Hancock
Street, Quincy. These newest additions to the network are expected
to open in late January.
"These three additional banking centers round out our recently
announced Boston expansion, giving
us instant critical mass to serve families and businesses in the
city and close-in suburbs," said James C.
Smith, Chairman and CEO of Webster. "This is great news
because we will now be able to step into each of the 17 former
Citibank banking centers in the market. We also look forward to
welcoming the Citibank retail bankers who have agreed to join
Webster, which will minimize disruption during the
transition."
Smith continued, "Since the successful launch of our
Boston flagship at 100 Franklin
Street six years ago, we have sought to expand our Boston presence and serve the region in a more
complete manner. Now with these new banking centers, Bostonians can
experience the surprisingly good customer service that has come to
define Webster elsewhere in Massachusetts and New England."
On December 11, Webster Bank announced it had negotiated the
leasehold interests of 14 Citibank locations in greater
Boston and would open the banking
centers under the Webster brand in mid-January. The announcement
followed Citibank's decision in September to exit the Boston retail banking market. As announced
earlier, Webster is not acquiring any deposit or loan accounts from
Citibank as part of the transaction.
Webster entered the Boston
market in 2009, opening a flagship banking center in the heart of
the Financial District in the space once occupied by the Boston
Stock Exchange. Initially focusing on middle market
businesses, Webster has grown and expanded its scope to include a
full range of commercial banking services, private banking,
government and institutional banking, and small business banking.
Webster also has immersed itself in the greater
Boston community through
charitable contributions and its bankers who donate their time to
numerous community organizations.
Now celebrating its 80th anniversary, Webster Bank traces its roots to the depths of
the Great Depression when 24-year-old Harold Webster Smith borrowed $25,000 from family and friends in 1935 to found
an institution that would help his neighbors in Waterbury, Conn., buy and build their homes.
James C. Smith is the founder's son
and only the second Chairman and CEO in Webster's history.
Over the years, Webster expanded its scope to include a full
range of banking products and services for the deposit,
transaction, credit, and investment needs of families and small and
middle market businesses in Massachusetts, Connecticut, Rhode
Island, and New York, and
from commercial banking offices in the Northeast. In addition,
Webster's HSA Bank division is the nation's largest custodian of
health savings accounts, serving consumers and businesses in all 50
states. Today, Webster is the 35th largest bank in
the nation by asset size. Webster currently has 177 banking
centers, including the Boston
flagship, 16 offices in southeastern Massachusetts and four in the Springfield area.
Webster Financial Corporation is the holding company for
Webster Bank, National Association.
With $24.1 billion in assets, Webster
provides business and consumer banking, mortgage, financial
planning, trust, and investment services through 177 banking
centers and 316 ATMs, with an additional 3 banking centers and 37
ATMs (subject to regulatory approval) scheduled to open soon in
greater Boston. Webster also
provides telephone banking, mobile banking, and Internet banking.
Webster Bank owns the asset-based
lending firm Webster Business Credit Corporation; the equipment
finance firm Webster Capital Finance Corporation; and HSA Bank, a
division of Webster Bank, which
provides health savings account trustee and administrative
services. 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.
Media
Contact
|
Investor
Contact
|
Bob Guenther,
203-578-2391
|
Terry Mangan,
203-578-2318
|
rguenther@websterbank.com
|
tmangan@websterbank.com
|
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SOURCE Webster Financial Corporation