Webster Bank Quick Stats

Type – Public (NYSE: WBS)
Founded – 1935 Waterbury, Connecticut
Headquarters – Waterbury, Connecticut, United States
Key people – James C. Smith, Chairman, CEO & Director.
Industry – Finance
Products – Banking
Revenue – ~700 Million USD (FY 2005)
Employees – Approximately 3,400
Website – www.websterbank.com

Webter Bank – History

Webster Bank was founded in 1935 by Harold Webster Smith. Only 24 years old, Smith borrowed from family and friends to found First Federal Savings of Waterbury, a lending institution providing home loans to Connecticut citizens. He served as CEO until 1987 and as chairman of the board until 1995 when First Federal was renamed Webster Bank in his honor.

Webster Bank owns the asset-based lending firm Webster Business Credit Corporation, the insurance premium finance company Budget Installment Corporation, Center Capital Corporation, a company led by President Walter F. Greenfield, is an equipment finance company headquartered in Farmington, and provides health savings account trustee and administrative services through HSA Bank of Sheboygan, WI, a division of Webster Bank.

Webster Bank has over $17.5 billion in assets and a market capitalization of over $2.6 billion. Its network includes over 181 branches and 490 ATMs located in Connecticut, Massachusetts, Rhode Island and Westchester County, NY.