Webster to close 3 R.I. branches, 1 in New Bedford

THANKS TO CHANGING CONSUMER HABITS, Webster Bank is closing eight branches throughout its system, including three in Rhode Island and one in New Bedford.
THANKS TO CHANGING CONSUMER HABITS, Webster Bank is closing eight branches throughout its system, including three in Rhode Island and one in New Bedford.

(Updated, 4:55 p.m.)
WARWICK – Faced with falling demand for teller services, Webster Bank will close four Rhode Island and Bristol County branches on April 14.

The closures are part of a larger downsizing effort by Webster, which will close eight branches throughout Rhode Island, Connecticut, Massachusets and New York. Overall, the closings will result in the loss of 28 jobs. Local numbers were not immediately available.

The bank says shifting consumer habits are driving these changes, estimating teller transactions fell 40 percent from 2010 to 2016, and 47 percent of household checking accounts are served by mobile banking.

“We continue to evaluate our network to ensure that our banking centers efficiently balance our physical and digital banking channels in response to rapidly changing customer expectations,” said David Miree, executive vice president of consumer deposits and investments. “At the same time, we concurrently invest in high-opportunity markets and culture, which is based on relationship development.”

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Webster Bank, based in Waterbury, Conn., is a subsidiary of Webster Financial Corp.

The following locations are expected to close:

  • 1155 Pontiac Ave., Cranston
  • 2300 New London Turnpike, East Greenwich
  • 2100 Warwick Ave., Warwick
  • 480 Rockdale Ave., New Bedford

As of June 30, Webster Bank had 13 offices in Rhode Island and 11 offices in Bristol County, Mass., according to the Federal Deposit Insurance Corp. The April closures would reduce the total number of branches to 10 in both areas, respectively.

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