Webster Bank Merger On Track
The merger-of-equals between Waterbury-based Webster Bank and New York-based Sterling National Bank remains on track, and the banks expect to complete the transaction early in the fourth quarter.
Webster Bank Observes Juneteenth With Donation to RE-Center
Webster Bank will observe Juneteenth this year by making investments in national and regional organizations working to address issues of racial equity and social justice.
Webster’s Merger Discussions With Sterling Started in 2019
On-and-off discussions about a possible merger of Waterbury-based Webster Bank and New York-based Sterling National Bank began in 2019, but the banks decided at the start of the pandemic to put aside discussions.
Webster Hires Banker for Transportation Industry
Waterbury-based Webster Bank has hired Nick Weaver to expand its work in the transportation and logistics industry.
Webster Bank Expands Roles of CT Regional Presidents
Waterbury-based Webster Bank has expanded the roles of three regional presidents in Connecticut.
Webster Saw Earnings Increase in First Quarter
Waterbury-based Webster Bank saw first quarter earnings increase almost 200 percent compared to the same quarter last year, when banks were responding to the start of the pandemic.
Webster Bank to Merge With NY-Based Sterling National Bank
A merger of equals between Waterbury-based Webster Bank and New York-based Sterling National Bank will create a bank with about $63 billion in assets and new headquarters in Stamford, Connecticut.
Staff and Technology Key to Record Loan Volumes in 2020
Lenders saw refinance activity in Connecticut double in 2020 compared to 2019, with more than $26.25 billion in residential refinancing, according to The Warren Group, publisher of The Commercial Record. The number of loans originated in the state rose by 74 percent compared to 2019 to more than 89,000 loans.
Berkshire Bank CFO Resigns
In the same week that Berkshire Bank agreed to cooperate with an asset management firm that had questioned the bank’s decision to hire a new CEO instead of pursuing a sale, the chief financial officer who had a key role in the controversy submitted his resignation to the bank.
Webster Bank Aims for Big Savings with Branch Closures
Webster Bank could see $15 million in cost savings from its plans to close branches as it takes steps to reduce expenses while growing its business. The bank announced in December plans to close 27 branches in Massachusetts, Connecticut and Rhode Island, reducing its...
Bryan Cassidy Joins Torrington Savings Bank
Torrington Savings Bank has hired Bryan Cassidy for its executive team, bringing him on as chief information officer and senior vice president.
2021 Could See More of the Same for Lenders
Even as 2020 comes to an end, many of the storylines that dominated the year in banking and lending continue to evolve, likely shaping the industry for months and years to come.
Webster to Close At Least 14 CT Branches
Waterbury-based Webster Bank will close at least 14 Connecticut branches as part of a consolidation plan that will reduce its branch footprint by 17 percent.
Webster Bank to Close 27 Branches
Waterbury-based Webster Bank plans to close 27 of its New England branches, making it the second bank in the region to announce consolidation plans this week.
Luria Named to ABA Foundation Board
Kathy Luria, the senior vice president of community affairs and director of philanthropy at Webster Bank has been named to the American Bankers Association Foundation Board of Directors, the bank said in a statement.
Webster Bank Names New Head of Retail Banking
Waterbury-based Webster Bank has named a new head of retail banking and consumer lending, a month after ending the tenure of its head of community banking.
People’s United, Webster Bank See Improving Loan Deferrals
The two largest Connecticut-based banks both had fewer clients needing loan deferrals during the third quarter compared to the early months of the pandemic.
Webster Banker Wins National Cybersecurity Award
Webster Bank’s senior vice president and chief security information officer, Aimee Barricelli, has been named the 2020 Chief Information Security Officer of the Year by the American Cyber Awards, a national awards program that recognizes innovative and successful people, teams and products working in cybersecurity.
Mhatre Out as Webster’s Head of Community Banking
Webster Bank has ended Nitin Mhatre’s tenure as head of community banking in a move that analysts say could point to changes facing community banking.
Deposits Up 16 Percent at Connecticut Banks Thanks to COVID-19
Deposits at nearly every Connecticut bank increased in 2020, as the state’s total bank deposits grew by more than 16 percent, according to the FDIC’s annual Summary of Deposits survey.
