Former Webster Bank CEO James Smith will not run for governor after his enrollment in the Republican Party missed the deadline to be considered a candidate in the August primary, according to The Hartford Courant.

“I’m confident I could have competed successfully for the nomination and in the general election, but my enrollment in March in the Republican Party came too late to meet the ‘effective date of enrollment’ rules to be a candidate in the August primary,’’ Smith said in a statement, according to the Courant. “I’m disappointed that I won’t have the opportunity to participate, since I believe I have the experience, leadership skills and commitment needed to work with the legislature to bring about the fundamental changes that will put our state government and economy back on solid footing, and ensure a prosperous future for everyone who calls our wonderful state home.’’

Smith, who retired from Webster at the end of 2017, had been seriously considering a run after having co-chaired a state-sanctioned commission that proposed vast changes to Connecticut’s tax and economic policies.

“My work with the commission reinforced for me the depth and breadth of challenges Connecticut faces, and we developed recommendations to achieve balanced budgets and sustainable growth,” Smith said in an email to the Hartford Business Journal a few days ago when considering his bid. “I believe to my core that I would bring to the governor’s office the experience, leadership skills and commitment needed to work with the legislature to bring about the changes needed to put our state government and economy back on solid footing, and ensure a prosperous future for everyone who calls our wonderful state home.”

But after missing the enrollment deadline, Smith said he didn’t want to fight the party or be a distraction in the race.

“While I could make a creditable challenge to the interpretation of enrollment rules as they apply to candidates, I’ve elected not to do so since such an action could disrupt the nomination process and divert attention from the important issues faced by our great but faltering state,’’ he said.