WATERBURY, Conn., Jan. 2, 2019 /PRNewswire/ -- Webster Bank was named best overall bank in the Northeast in Bank Director's annual RankingBanking study released late last month. The 2019 RankingBanking study identifies the top public U.S. retail and commercial banks between $10 billion and $250 billion in assets within each region – the South, the West, the Midwest and the Northeast.
In addition to placing first overall in the Northeast, Webster was also the top bank in the Northeast in three key categories: Best Technology Strategy, Best Board and Best Small Business Strategy.
"This is another independent report showcasing our good work across the organization, and a great way to kick off 2019," said President and CEO John R. Ciulla.
The rankings were calculated using Bank Director's proprietary algorithm, which incorporates more than 60 critical data points to measure banks' relative strengths and weaknesses. The data points used were both qualitative and quantitative, including case studies and analyst opinions.
Many factors went into Webster's top rankings, including the bank's high-level focus on digital banking and user experience, the diversity and expertise of its board and its small business loan growth and volume.
"We also noted Webster's robust selection of products and services tailored for small businesses, the fact that customers can apply for loan and deposit products online and Webster's ability to generate online loan decisions within 48 hours," said Emily McCormick, Bank Director's vice president of research.
Bank Director is a leading information resource for the directors and officers of financial institutions across the nation.
Webster Financial Corporation is the holding company for Webster Bank, National Association and its HSA Bank division. With $27.3 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust, and investment services through 157 banking centers and 319 ATMs. Webster also provides mobile and online banking. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and HSA Bank, a division of Webster Bank, which provides health savings account trustee and administrative services. Webster Bank is a member of the FDIC and an 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.
SOURCE Webster Financial Corporation