Profile: Webster Financial Corp (WBS)
24 Apr 2014
Webster Financial Corporation (Webster), incorporated on September 10, 1986, is a bank holding company and financial holding company. Webster serves consumers, businesses, not-for-profit organizations and governmental entities with a distribution network of 169 banking centers and 309 automated teller machines (ATMs), as well as a range of telephone, Internet, and mobile banking services. In addition, Webster offers commercial real estate, asset-based lending, and equipment finance services regionally and health savings accounts nationally through HSA Bank. The Company operates in three segments: Commercial Banking, Community Banking and Other. The Community Banking consists of the Personal Banking and Business Banking operating segments. Commercial Banking provides lending, deposit, and treasury and payment solutions. Other consists of HSA Bank and the Private Banking operating segments.
The Commercial Banking segment includes Middle Market; Commercial Real Estate; Webster Business Credit Corporation, the Company’s asset-based lending subsidiary; Webster Capital Finance, the Company’s equipment financing subsidiary; and Treasury and Payment Solutions. Commercial Real Estate (CRE) provides variable-rate and fixed-rate financing for the acquisition, development, construction, or refinancing of commercial real estate for which the property is the primary collateral security for the loan and income generated from the property is the primary repayment source. Webster Business Credit Corporation (WBCC) is the regional asset-based lending subsidiary of Webster Bank and is an asset-based lender in the United States WBCC finances growing middle market companies’ working capital and import financing needs with revolving credit facilities using formula- driven accounts receivable and inventory advance rates. Webster Capital Finance (WCF) is the regional equipment finance subsidiary of Webster Bank and is a lender in the United States.
Community Banking serves 400,000 consumers and small businesses. The business is consists of Personal Banking, Business Banking, and a Distribution network consisting of Banking Centers, ATMs, a Customer Care Center, and a range of on-line and mobile banking services. The Personal Bank includes consumer products, which consists of 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). Business Banking offers credit, deposit, and cash flow management products to business and professional service firms with annual revenues up to $20 million.
Other includes 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.
Webster Financial Corp
132 GRAND STREET, FRED SMITH
WATERBURY CT 6702