WATERBURY, Conn.--(BUSINESS WIRE)--Aug. 21, 2000--Webster
Financial Corporation (Nasdaq: WBST), holding company for Webster
Bank, today announced that it has completed the previously announced
purchase of four branch offices from FleetBoston Financial (NYSE: FBF)
that were divested as the result of the Fleet-BankBoston merger.
Conversion of the branches to Webster systems occurred this past
weekend.
The branches, with $138 million in deposits, are located in
Brookfield, Guilford, Meriden, and Thomaston. The transaction includes
the purchase of deposits and loans for individual and small business
customers of these branches.
"The purchase of these branches further strengthens and extends
Webster's growing Connecticut franchise," said James C. Smith, Webster
chairman and chief executive officer.
Connecticut-based Webster Bank provides business and consumer
banking, mortgage, insurance, trust and investment services through
more than 110 banking offices, 200 ATMs and the Internet
(www.websterbank.com). Webster's online mortgage subsidiary at
www.nowlending.com on the Worldwide Web originates low-cost mortgages
across the United States.
For more information on Webster, including past press releases and
the latest Annual Report, visit the Webster Bank website at
www.websterbank.com.
CONTACT:
Webster Contacts:
Media: Mike Bazinet, 203/578-2391
mbazinet@websterbank.com
or
Investors: James Sitro, 203/578-2399
jsitro@websterbank.com