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Company Description

Contact Info

Webster Plaza

145 Bank Street

Waterbury, CT 06702

United States

Phone: 203-578-2202

Fax:

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association. The company, through Webster Bank and non-banking financial services subsidiaries, delivers financial services to individuals, families, and businesses primarily from Westchester County, New York to Boston, Massachusetts. The company provides commercial, small business, and consumer banking, mortgage lending, financial planning, and trust and investment services through 169 banking centers, 309 ATMs, telephone banking, mobile banking and its Internet Website (www.websterbank.com). The company provides health savings account trustee and administrative services on a nationwide basis through its HSA Bank division and its Internet Website (www.hsabank.com). It also offers equipment financing, commercial real estate lending, and asset-based lending. Segments The company’s operations are managed along three segments that represent its core businesses: Commercial Banking, Community Banking, and Other. Community Banking consists of the Personal Banking and Business Banking operating segments. Other consists of HSA Bank and the Private Banking operating segments. Commercial Banking The Commercial Banking segment includes middle market, asset-based lending, commercial real estate, equipment finance, and treasury and payment services, which includes government and institutional banking. The company provides lending, deposit and cash management services to middle market companies in its franchise territory. Additionally, it serves as a referral source to Private Banking and Community Banking segments. Community Banking Community Banking serves consumer and business banking customers primarily throughout southern New England and into Westchester County, New York. The Personal Bank includes the following consumer products: deposit and fee-based services, residential mortgages, home equity lines/loans, unsecured consumer loans, and credit cards. In addition, Webster Investment Services (WIS) offers investment and securities-related services, including brokerage and investment advice through a strategic partnership with LPL Financial (LPL). The company has employees who are LPL registered representatives located throughout its branch network, offering customers insurance and investment products, including stocks and bonds, mutual funds, annuities, and managed accounts. Brokerage and online investing services are available for customers. Business Banking offers credit, deposit, and cash flow management products to business and professional service firms. This unit works to build full customer relationships through business bankers and business certified banking center managers supported by a team of customer care center bankers and industry and product specialists. Other The company’s other activities include HSA Bank (HSA) and Private Banking. HSA Bank is a bank custodian of health savings accounts. These accounts are provided for high deductible health plans offered by employers or directly to consumers. Private Banking provides local full relationship banking that serves high net worth clients, not-for-profit organizations, and business clients for asset management, trust, loan, and deposit products and financial planning services. Investment Portfolio As of December 31, 2013, the company’s portfolio consisted primarily of agency mortgage-backed securities (MBS), agency collateralized mortgage obligations (CMOs), and agency commercial mortgage-backed securities. Deposits The company offers deposit products for checking and savings, including ATM and debit card use, direct deposit, ACH payments, combined statements, mobile banking services, Internet-based banking, bank by mail, as well as overdraft protection via a line of credit or transfer from another deposit account. These are designed to meet the transactional, savings and investment needs of consumer and business customers throughout banking centers within its primary market area. Regulations As a bank holding company and a financial holding company, the company is regulated under the Bank Holding Company Act of 1956, as amended (BHC Act), and is subject to inspection, examination, and supervision by the Federal Reserve Board (FRB). The company is also under the jurisdiction of the United States Securities and Exchange Commission (SEC) and is subject to the disclosure and regulatory requirements of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, as administered by the SEC. Webster Bank is organized as a national banking association under the National Bank Act. It is subject to broad regulation and examination by the Office of the Comptroller of the Currency as its primary supervisory agency, as well as by the Federal Deposit Insurance Corporation. History Webster Financial Corporation was founded in 1935.

 

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