Webster Bank is a financial institution that has been in operation for over 75 years and offers banking services to both consumers and businesses. With over 3,000 employees dedicated to helping customers meet their financial goals, Webster Bank is now one of the 35 largest banks in the United States. Headquartered in Connecticut, Webster Bank serves four states - CT, Massachusetts, Rhode Island, and New York.
Webster Bank was founded in 1935 in the Depression years when the idea of starting a new bank was probably considered ludicrous. With $25,000 borrowed from private sources, which was quite a sum at the time, Harold Webster Smith established First Federal Savings of Waterbury with the primary goal of helping the community with home loans. The same man who started this institution lasted as the Bank’s CEO until 1987, and as chairman in 1995. At that time the Bank was renamed Webster Bank and seven years later it was listed on the public markets as WBS.
All of that growth has produced an institution with a working basis of $20 billion in tracked assets. Webster Bank now provides services to consumers, companies, government agencies and institutions. They also provide services in their traditional markets of home lending as well as expanded services in financial advice and planning, trust planning, and investing.
Webster Bank now operates with almost 300 ATMs and 168 offices in four states. The Bank also provides services through the Internet, phone, mobile banking, and in-person office access. Through subsidiary names Webster Bank also provides agency customers capital asset financing as well as health savings administration for commercial clients.
Webster Bank as an institution is definitely in a position to keep growing over the next decade, and the institution is clearly moving into the targeted acquisition mode to expand its market reach where possible. Customers are likely to see added services as a result, especially commercial and business clients as the Bank continues to keep building up its reach in technical services and related markets.
Webster Bank states that its goal is "to be the leading financial services provider in southern New England." If you're searching for a home mortgage loan, certificate of deposit (CD), savings account, or another financial product, Webster Bank is a good place to begin your search.
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