Webster Financial Corp - Company Profile
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Webster Financial Corp (Webster) is a bank-holding company that offers commercial, community, and private banking solutions through its subsidiaries. It provides savings and checking accounts, loans and deposit solutions, asset-based lending, equipment finance, commercial real estate, and treasury and payment solutions. The company offers mortgages, home equity lines, unsecured loans, credit cards, and overdraft protection. Webster offers health savings accounts, health reimbursement arrangement accounts, and flexible spending accounts. It also provides services such as asset management, investment and securities, trust, and financial planning services. It operates mainly in Connecticut, Massachusetts, New York, Pennsylvania and Rhode Island. Webster is headquartered in Waterbury, Connecticut, the US.
Headquarters
United States of America
Address
200 Elm Street, Stamford, Connecticut, 06902
Website
public.websteronline.com
Telephone
1 203 5782202
No of Employees
4,065
Industry
Financial Services
Ticker Symbol & Exchange
WBS (NYSE)
Revenue (2022)
$2.7B
115.2%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
57.6%
(2022 vs 2021)
Market Cap*
$7.7B
Net Profit Margin (2022)
XYZ
-26.8%
(2022 vs 2021)
* As of and is in US$
Products and Services
| Products | Services |
|---|---|
| Cards: | Treasury Investment |
| Credit | Cash Management |
| Debit | Asset Based Lending |
| XYZ | XYZ |
| XYZ | XYZ |
| XYZ | XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2022 | Contracts/Agreements | In May, Webster Bank and Save entered into an agreement to make savings accounts available to Save customers who participate in product offering on Save's innovative Savetech platform. |
| 2022 | Acquisitions/Mergers/Takeovers | In February, the company merged with Sterling Bancorp, a financial services company. |
| 2022 | Contracts/Agreements | In February, the company through its subsidiary Webster Bank entered into an agreement to acquire Bend Financial Inc., a technology company. |
Competitor Comparison
| Key Parameters | Webster Financial Corp | WaFd Inc | Fulton Financial Corp | Customers Bancorp, Inc. | Bankwell Financial Group Inc |
|---|---|---|---|---|---|
| Headquarters | United States of America | United States of America | United States of America | United States of America | United States of America |
| City | Stamford | Seattle | Lancaster | West Reading | New Canaan |
| State/Province | Connecticut | Washington | Pennsylvania | Pennsylvania | Connecticut |
| No. of Employees | 4,065 | 2,132 | 3,300 | 665 | 139 |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Jack L. Kopnisky | Chairman | Executive Board | 2022 | 67 |
| John R. Ciulla | Director; Chief Executive Officer; President | Executive Board | 2018 | 57 |
| Glenn I. MacInnes | Executive Vice President; Chief Financial Officer | Senior Management | 2011 | 62 |
| Luis Massiani | President; Senior Executive Vice President; Chief Operating Officer | Senior Management | - | 46 |
| Vikram Nafde | Executive Vice President; Chief Information Officer | Senior Management | 2022 | - |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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