News Details

WATERBURY, Conn.--(BUSINESS WIRE)--April 17, 2001--Webster Financial Corporation (Nasdaq: WBST), holding company for Webster Bank, announced today the appointment of William J. Healy as executive vice president and chief financial officer.

Healy, 56, was previously executive vice president and chief financial officer for Summit Bancorp, a $40 billion asset bank holding company headquartered in Princeton, N.J.

"We are extremely pleased to welcome Bill Healy to this key position on Webster's executive management team," said James C. Smith, chairman and chief executive officer, "Bill has been CFO in a successful fast-growing, regional banking institution. Webster will benefit from his experience and demonstrated talent as we continue our growth and diversification as a regional financial services provider."

Joseph Carlson has been Webster's acting chief financial officer on a consulting basis since the death of John Brennan in May 2000. Brennan had been CFO since 1990.

As CFO at Summit Bancorp Healy oversaw all finance activities including accounting, tax, capital planning, mergers and acquisitions, asset liability and financial analysis. From 1994 to 1998 Healy was executive vice president and controller for Summit. He joined Summit in 1973, after working for KPMG Peat Marwick for several years as a supervising senior accountant and senior accountant.

Healy is a member and past president of the New Jersey Chapter of Financial Executives International. He has also served on the American Bankers Association (ABA) Accounting Committee.

Healy received a bachelor's degree in accounting from St Peter's College, Jersey City, N.J.

Connecticut-based Webster Financial Corporation is the holding company for Webster Bank. Webster Bank provides business and consumer banking, mortgage, insurance, trust and investment services through more than 100 banking offices, 220 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.

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