News Details

WATERBURY, Conn.--(BUSINESS WIRE)--Feb. 28, 2002--Webster Bank today celebrated the opening of a new branch at 1959 Summer Street in Stamford.

The new branch begins Webster's aggressive expansion into lower Fairfield County. The Waterbury-based bank plans to establish at least 20 new branches and 35 ATM locations in the region over the next three years. The expansion is intended to increase Webster's presence and continue the development of its regional financial services into contiguous markets.

"We look forward to being a contributing member of the Stamford community," stated Webster chairman and chief executive officer James C. Smith. "By helping Stamford's people and businesses achieve their financial goals, Webster will be able to fulfill our mission as a leading financial services provider."

Webster also has plans for a branch in downtown Stamford. Earlier this month, Webster applied for approval from the federal Office of Thrift Supervision on a site at 1 Atlantic Avenue.

Prior to today's grand opening, Webster offered 12 branch locations in 8 Fairfield County towns: Brookfield, Danbury, Fairfield, Ridgefield, Shelton, Stratford, Westport and Wilton.

Among those individuals in attendance were Stamford Mayor Dannel P. Malloy, State Representative Michael Fedele, and Stamford Chamber of Commerce President Jack Condlin.

Webster Financial Corporation (Nasdaq: WBST) is the holding company for Webster Bank, which provides business and consumer banking, mortgage, insurance, trust and investment services through more than 100 banking offices, 210 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. Webster Financial Corporation owns Center Capital Corporation, an equipment financing company headquartered in Farmington, Connecticut, and is majority owner of Chicago-based Duff & Phelps, a leader in investment banking and financial advisory services.

For more information about Webster, including past press releases and the latest Annual Report, visit the Webster Bank web site at www.websterbank.com.

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