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Webster Financial

#1734

Rank

$9.43B

Marketcap

US United States

Country

Webster Financial
Leadership team

Mr. John R. Ciulla (Pres, CEO & Director)

Mr. Glenn I. MacInnes (Exec. VP & CFO)

Mr. Daniel H. Bley (Exec. VP & Chief Risk Officer)

Products/ Services
Banking
Number of Employees
1,000 - 20,000
Headquarters
Waterbury, Connecticut, United States
Established
1935
Company Registration
SEC CIK number: 0000801337
Net Income
500M - 1B
Revenue
Above - 1B
Traded as
WBS
Social Media
Overview
Location
Summary
Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Retail Banking. The Commercial Banking segment provides lending, deposit, and cash management services; commercial and industrial lending and leasing, commercial real estate lending, equipment financing, and asset-based lending, as well as treasury and payment services; wealth management solutions to business owners, operators, and consumers; and trust, asset management, financial planning, insurance, retirement, and investment products. The HSA Bank segment offers health savings accounts, health reimbursement arrangements, flexible spending accounts, and commuter services that are distributed directly to employers and individual consumers, as well as through national and regional insurance carriers, consultants, and financial advisors. The Retail Banking segment provides deposit and fee-based services, residential mortgages, home equity lines, secured and unsecured loans, and credit cards to consumers. The company also offers online and mobile banking services. As of December 31, 2021, it operated 130 banking centers and 251 ATMs. The company was founded in 1935 and is headquartered in Stamford, Connecticut.
History

Webster was founded in 1935 by Harold Webster Smith as the First Federal Savings of Waterbury in Connecticut. Only 24 years old, Smith borrowed from family and friends to found the lending institution providing home loans to Connecticut citizens. He served as CEO until 1987 and as chairman of the board until 1995 when First Federal was renamed Webster Bank in his honor.

Timeline

Among milestones in Webster's history:

1935: Harold Webster Smith founds a savings and loan, First Federal Savings of Waterbury.

1938: First Federal's assets grow to more than $1 million.

1986: First Federal converts to stock ownership and forms a holding company.

1987: James C. Smith becomes the company's second chief executive officer, succeeding his father, Harold Webster Smith, who continues as chairman.

1995: Harold Webster Smith retires as chairman and is succeeded by James C. Smith.

1997: Webster Trust Company, N.A. and Investment Services are added to the bank's offerings.

1998: Webster acquires Eagle Bank of Bristol, pushing its statewide branch total over 100.

1998: Webster becomes first bank in Connecticut to purchase an insurance agency .

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

2003: Webster announces definitive agreement to acquire FIRSTFED AMERICA BANCORP, INC., the holding company for First Federal Savings Bank of America; the deal, which closed in May 2004, marks Webster's first retail expansion beyond Connecticut's borders and into the southeastern Massachusetts and Rhode Island markets.

2004: Webster announces that the Office of the Comptroller of the Currency has accepted the company's application to be a chartered commercial bank.

2005: Webster acquires HSA Bank and becomes the leading bank administrator and trustee of health savings accounts in the nation.

2006: Webster acquires NewMil Bank.

2016: Webster acquires 17 Citibank branches in the Boston area and adds additional ATMs to support the network

2022: Webster acquires Sterling National Bank and moves its headquarters from Waterbury to Stamford.

Mission
To help individuals, families, and businesses achieve their financial goals.
Vision
We will be the most respected financial services company in our markets by differentiating ourselves through an exceptional personal experience for our customers and creating a culture that allows our employees to thrive.
Key Team

Mr. Charles L. Wilkins (Exec. VP & Head of HSA Bank)

Mr. Luis Massiani (COO & Exec. VP)

Mr. Christopher J. Motl (Exec. VP & Pres of Commercial Banking)

Mr. Albert J. Wang CPA, CPA (Exec. VP & Chief Accounting Officer)

Mr. Jack L. Kopnisky (Exec. Chairman)

Mr. Vikram Nafde (Exec. VP & Chief Information Officer)

Mr. Terrence K. Mangan (Sr. VP of Investor Relations)

Recognition and Awards
Webster Bank has received numerous awards and recognition for its products, service and commitment to community. In 2015, Webster received the Greenwich Excellence Award for Retail Banking Satisfaction in the Eastern Region. In 2016, WD-40 Company named Webster Bank as its 2016 'Vendor of the Year' for excellence in customer service. Additionally, the bank was recognized by Forbes Magazine as one of the 'World's Most Reputable Companies' in 2017.
References
Webster Financial
Leadership team

Mr. John R. Ciulla (Pres, CEO & Director)

Mr. Glenn I. MacInnes (Exec. VP & CFO)

Mr. Daniel H. Bley (Exec. VP & Chief Risk Officer)

Products/ Services
Banking
Number of Employees
1,000 - 20,000
Headquarters
Waterbury, Connecticut, United States
Established
1935
Company Registration
SEC CIK number: 0000801337
Net Income
500M - 1B
Revenue
Above - 1B
Traded as
WBS
Social Media