WATERBURY, Conn., May 1, 2002 (BUSINESS WIRE) -- Webster Bank (NASDAQ: WBST)
announced today two new lines of business at Center Capital Corporation, its
Farmington, Connecticut-based national specialty equipment leasing and financing
subsidiary.
A Professional Practices Equipment Finance Division and a General Aviation
Finance Division have been added to Center Capital's existing lines of business:
Construction and Transportation Equipment Financing, Environmental Equipment
Financing and Machine Tool Equipment Financing. Center Capital Corporation has
provided equipment leasing and financing to companies throughout the United
States for more than 15 years.
Mitchell D. Weiss, President and Chief Executive Officer of Center Capital,
said: "These two divisions complement our existing businesses and extend us into
promising areas where our service and expertise offer notable opportunities to a
new range of customers. I am especially pleased that we are entering both fields
with strong, experienced leadership and talented teams."
The Professional Practices Equipment Finance Division is headquartered in the
greater Boston area and specializes in financing medical technology and office
automation equipment to professional practices including those in the fields of
medicine and health care, law, accounting, architecture and consulting. William
L. Allen II has been named Vice President and General Manager of the division.
Allen was most recently Director of Sales for the CIT Group, Inc.'s Vendor
Technology Finance Group and prior to that served as the Vice President of
Business Development for GE Capital's Vendor Financial Services Division.
The General Aviation Finance Division is headquartered in the greater
Dallas-Fort Worth area and specializes in financing of fixed-wing jet and
turboprop aircraft and helicopters for corporate and charter use. Charles T.
McGuire has been named Vice President and General Manager of the division.
McGuire was most recently Director of Aviation Finance for DaimlerChrysler
Capital Services and prior to that served as Vice President & Division Manager
for Textron Financial's Aerospace Finance Division.
William T. Bromage, President and Chief Operating Officer of Webster Bank said,
"These two expansions fit well our strategic plan to diversify our product base,
expand geographically and grow our loan portfolio in select niche markets.
Center Capital is strongly positioned to grow in both of these new lines of
business. We are delighted to welcome Bill Allen and Chuck McGuire to Center
Capital and the Webster team."
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 (www.websterbank.com). Webster Financial Corporation is majority owner
of Chicago-based Duff & Phelps, LLC, a leader in 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.websterbank.com.
CONTACT: Webster Bank
Media:
Clark Finley, 203/578-2429
cfinley@websterbank.com
Investor:
James Sitro, 203/578-2399
Jsitro@websterbank.com
or
Center Capital Corporation
Mitchell D. Weiss, 860/409-2901
MitchWeiss@aol.com