Webster Bank Announces Branch Changes

Jun 16, 2011, 08:00 ET from Webster Bank

WATERBURY, Conn., June 16, 2011 /PRNewswire/ -- Webster Bank, a subsidiary of Webster Financial Corporation (NYSE: WBS), said that it will be closing six branches as the company continues to keep pace with changing customer behavior.

"Consumers and businesses are conducting more routine banking business over the internet, through ATMs, at point-of-sale, and using their mobile phone.  Their visits to our branches are less frequent and more often are focused on addressing customers' more complex financial needs," said Anne Slattery, executive vice president for Retail Banking at Webster. "This shift in usage trends has led us to optimize our delivery channels so that we are delivering customers the services and products when, where, and how they want them."  

As part of the realignment, Webster plans to close on October 7, 2011 the following six of its 176 branches:

  • Meriden Road, Wolcott, Conn.:  1776 Meriden Rd.
  • Mansfield, Mass.: 84 Copeland Dr.
  • New Preston, Conn.: 131 Old New Milford Turnpike
  • Newtown, Conn.:14 Church Hill Rd.
  • Southbury Supermarket, Southbury, Conn.: 775 Main St. South
  • Torrington Downtown, Torrington, Conn.: 50 Litchfield St.

These branches were chosen based on their proximity to other Webster branches and the fact that 90 percent of the affected branch customers use other Webster branches.  No additional closures are planned. The branch closures will not result in any non-managerial job losses, and affected branch managers will be eligible to apply for open positions within Webster.  

Throughout this change, Webster remains committed to delivering superior customer service.  

About Webster

Webster Financial Corporation is the holding company for Webster Bank, National Association. With $18 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust and investment services through 176 banking offices, 497 ATMs, telephone banking and the Internet.  Webster Bank owns the asset-based lending firm Webster Business Credit Corporation; Webster Capital Finance Corporation, an equipment finance company headquartered in Farmington, Conn.; and provides health savings account trustee and administrative services through HSA Bank, a division of Webster Bank. Member FDIC and equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.

Media Contact:

Investor Contact:

Bob Guenther, 203-578-2391

Terry Mangan, 203-578-2318



SOURCE Webster Bank