Webster Bank joins forces with N.Y. lender in $10.3B merger while keeping its name

Updated at 2:11 p.m. on April 19, 2021.

WEBSTER FINANCIAL CORP. announced a $10.3 billion merger with New York-based Sterling Bancorp. on Monday. The Connecticut-based bank has 27 branches in Rhode Island and Bristol County, Mass., three of which were already slated to close this year. / PBN FILE PHOTO
WATERBURY, Conn. – Connecticut-based Webster Financial Corp. announced on Monday it will merge with a similarly sized New York bank. The all-stock transaction, valued at $10.3 billion, will merge the holding company for Webster Bank with Sterling Bancorp, resulting in a combined company under Webster’s name headquartered in Stamford, Conn.  After the deal closes, Webster…

Register to keep reading or subscribe today and receive unlimited access.
Register Now Already a Subscriber? Login now

Purchase NowWant to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.

No posts to display