WATERBURY, Conn., June 22 /PRNewswire-FirstCall/ -- Webster Financial
Corporation (NYSE: WBS) announced that Chairman and Chief Executive Officer
James C. Smith has been appointed to the Federal Advisory Council. The
Federal Advisory Council plays an ongoing advisory role in the deliberations
of the Federal Reserve Board of Governors.
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"I am pleased to participate in the Council's efforts to provide insight
on matters affecting the banking industry. The constructive communication
among colleagues on the Council results in productive guidance for the Federal
Reserve Board of Governors," said Smith.
The Federal Advisory Council was created by the Federal Reserve Act of
1913. The Board of Directors for each of the twelve Federal Reserve Banks
chooses one member from its Federal Reserve District to act as a
representative on the Council, typically for a three-year term. According to
the Federal Reserve Act, the Federal Advisory Council has the power to confer
directly with the Board of Governors of the Federal Reserve System on general
business conditions and to make representations and recommendations concerning
matters within the jurisdiction of the board.
The Council meets with the Federal Reserve Board at least four times a
year in Washington, DC; the next meeting is scheduled for September.
Webster Financial Corporation is the holding company for Webster Bank,
National Association and Webster Insurance. With $17.4 billion in assets,
Webster provides business and consumer banking, mortgage, insurance, financial
planning, trust and investment services through 153 banking offices, 291 ATMs,
telephone banking and the Internet. Webster Bank owns the asset-based lending
firm Webster Business Credit Corporation, the insurance premium finance
company Budget Installment Corp., Center Capital Corporation, an equipment
finance company headquartered in Farmington, Connecticut and provides health
savings account trustee and administrative services through HSA Bank, a
division of Webster Bank.
For more information about Webster, including past press releases and the
latest annual report, visit the Webster website at
http://www.websteronline.com.
Media Contact Investor Contact
Meghan Thompson, +1-203-578-2287 Terry Mangan, +1-203-578-2318
mthompson@websterbank.com tmangan@websterbank.com
SOURCE Webster Financial Corporation
-0- 06/22/2005
/CONTACT: Meghan Thompson, +1-203-578-2287, mthompson@websterbank.com, or
Terry Mangan, +1-203-578-2318, tmangan@websterbank.com, both of Webster/
/Web site: http://www.websteronline.com /
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(WBS)
CO: Webster Financial Corporation
ST: Connecticut
IN: FIN
SU: PER
JC
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1907 06/22/2005 08:30 EDT http://www.prnewswire.com