WATERBURY, Conn., Dec. 21 /PRNewswire/ -- Lehman Brothers, one of the
world's most prominent stock brokerage houses, has initiated coverage of
Webster Financial Corporation (Nasdaq: WBST) with an ``Outperform'' rating.
Authoring the favorable report were Lehman Brothers equity analysts Bruce W.
Harting and Connie U. Kim.
Webster Bank was founded in 1935 and is a leading Connecticut-based
financial institution. Webster delivers consumer banking, commercial banking,
mortgage, insurance, and trust and investment management services to
individuals, families and businesses.
Webster Bank has $9.2 billion in assets and operates through a network of
more than 100 banking offices, three commercial banking centers, and more than
174 ATMs, in addition to telephone banking, video banking and PC banking.
Webster has the number one or number two deposit market share in its primary
markets of Hartford, New Haven and Litchfield counties.
Webster is also the second-largest mortgage lender in Connecticut and a
leading, full-service commercial lender. Webster Trust, the bank's trust and
investment management subsidiary, is the second-largest bank trust company
based in Connecticut. Webster's insurance subsidiary, Damman Insurance
Associates, is one of the largest agencies in the state.