WATERBURY, Conn., Sep 30, 2002 (BUSINESS WIRE) -- Sept. 30, 2002--Webster Bank
(NASDAQ:WBST) today celebrated the opening of a new branch at 105 Mill Plain
Road in Danbury.
The opening marks the Waterbury-based bank's second branch in Danbury and the
fourth branch opening in its aggressive expansion into Fairfield County. Webster
plans to establish at least 20 new branches and 35 ATM locations in the region
over the next three years.
"Webster is firmly committed to our Fairfield County de novo branch expansion,"
stated Webster's senior executive vice president, retail banking, Peter
Mulligan. "We are encouraged by our development in the Stamford and Darien
communities, and we look forward to building more strong personal and business
relationships in Danbury."
Webster initiated its expansion plan in February of this year with a new branch
on Summer Street in Stamford, followed by branch openings at Atlantic Street in
downtown Stamford and a Boston Post Road branch in Darien.
In June, Webster announced that its Summer Street branch in Stamford had
achieved its annual deposit goal after its first three months of operation. The
Stamford branch opened in February of this year and experienced a growth rate in
deposits four times greater than initial projections.
Webster Financial Corporation is the holding company for Webster Bank and
Webster Insurance. With $12 billion in assets, Connecticut-based Webster Bank
provides business and consumer banking, mortgage, insurance, trust and
investment services through more than 100 banking offices, 210 ATMs and the
Internet. Webster Financial Corporation is majority owner of Chicago-based Duff
& Phelps, LLC, a leader in investment banking and financial advisory services,
and Webster Bank owns Center Capital Corporation, an equipment leasing and
financing company headquartered in Farmington, Connecticut and Webster Trust
Company, N.A.
For more information about Webster, including past press releases and the latest
Annual Report, visit the Webster Bank web site at www.websteronline.com.
CONTACT:
Webster
Clark Finley, 203/578-2429
cfinley@websterbank.com