SHEBOYGAN, Wis., Jan. 9, 2014 /PRNewswire/ -- HSA Bank, a division of Webster Bank, N.A. (NYSE: WBS), marked the 10th anniversary of health savings accounts by reaching $2 billion in deposits and investments. The bank reached this milestone just two years after crossing the $1 billion mark. The steady rise in assets and accounts is a reflection of HSA Bank's loyal customer base, along with the overall success of HSAs in the insurance and benefits marketplace.
Originally founded as the State Bank of Howards Grove in 1913, the bank name was changed to HSA Bank in 2004 and acquired by Webster Bank, N.A., in 2005. "Right from the beginning, HSA Bank established a great brand and a strong base of business partners," said Chad Wilkins, executive vice president, Webster Bank, and head of HSA Bank. "We became known across the country for our knowledge, flexibility and our industry-leading investment options. Today, these brand attributes remain integral to our larger business model, which is based on our core offering of health savings accounts. Last month, we had the honor of being named as the 'Best Health Savings Account' by Kiplinger's Personal Finance in the 'Best of Everything 2013' issue."
HSA Bank is a national leader in the health savings account industry, with more than 550,000 account holders in all 50 states.
About HSA Bank:
HSA Bank is one of the nation's most experienced HSA administrators and one of the few administrators with a strong focus on HSAs. HSA Bank works with individuals and companies of all sizes and complexities. HSA Bank actively listens to the needs of our clients and customers to develop solutions and create flexible HSA programs that include free Internet Banking access for employers and accountholders. HSA Bank offers reliable and responsive support to its business partners and accountholders from friendly, knowledgeable service staff. Discover how easy it can be to have, or manage, an HSA at www.hsabank.com.
SOURCE HSA Bank