Profile: Webster Financial Corp (WBS)
28 Jul 2016
Webster Financial Corporation (Webster), incorporated on September 10, 1986, is a bank and financial holding company. The Company's principal asset is all of the outstanding capital stock of Webster Bank, National Association (Webster Bank). The Company's segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Company, through Webster Bank and non-banking financial services subsidiaries, delivers financial services to individuals, families and businesses. Webster Bank provides commercial, small business and consumer banking, mortgage lending, financial planning, trust and investment services through over 160 banking centers, approximately 320 automatic teller machines (ATMs), telephone banking, mobile banking and online banking through its Website, www.websterbank.com. Webster Bank also offers equipment financing, commercial real estate lending and asset-based lending across the Northeast.
The Commercial Banking segment includes middle market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking. Webster Bank's Commercial Banking group takes a relationship approach to providing lending, deposit and cash management services to middle market companies within its franchise territory. Additionally, it serves as a referral source to Private Banking and Community Banking. The Community Banking segment serves consumer and business banking customers primarily throughout southern New England and into Westchester County, New York. This segment consists of Personal Banking, Business Banking and a distribution network consisting of banking centers and ATMs, a customer care center, telephone banking and a range of Web and mobile-based banking services.
The Company's Personal Banking includes deposit and fee-based services, residential mortgages, home equity lines/loans, unsecured consumer loans and credit cards. Business Banking offers credit, deposit and cash flow management products to businesses and professional service firms with annual revenues of approximately $20 million. HSA Bank, a division of Webster Bank, offers health savings accounts, health reimbursement accounts, flexible spending accounts and other financial solutions for healthcare. 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. The segment is focused on generating revenues from fees earned on clients' assets under management and administration.
The Company offers a range of loans, including Consumer loans, which consists of home equity and liquidating-home equity loans; commercial loans, which comprises commercial non-mortgage loans and asset-based loans; commercial real estate loans, which consists of commercial construction loans, and equipment financing. The Company's total loan amounts to approximately $15,671.735 million.
Webster Bank's investment securities portfolio is managed within regulatory guidelines and corporate policy, which include limitations on aspects, such as concentrations in and types of investments, as well as minimum risk ratings per type of security. The Bank's investment securities portfolio is classified as available-for-sale and held-to-maturity. The available-for-sale portfolio consists primarily of agency collateralized mortgage obligations (agency CMO), agency mortgage-backed securities (agency MBS), non-agency commercial mortgage-backed securities (non-agency CMBS) and collateralized loan obligation (CLOs). The Company's total available-for-sale investment securities amount to approximately $2,984.631 million.
Sources of Funds
The primary source of Webster Bank's cash flows for use in lending and meeting its general operational needs is deposits. Webster Bank offers a range of deposit products for checking and savings (including direct deposit, automated clearing house (ACH) payments, combined statements, mobile banking services, Internet-based banking, bank by mail, as well as overdraft protection via line of credit or transfer from another deposit account) designed to meet the transactional, savings and investment needs for both consumer and business customers. Webster Bank manages the flow of funds in its deposit accounts and provides a variety of accounts and rates consistent with Federal Deposit Insurance Corporation (FDIC) regulations.
Webster Financial Corp
132 Grand St
WATERBURY CT 06702-1909