WATERBURY, Conn., June 9 /PRNewswire-FirstCall/ -- Webster Bank, N.A.,
a subsidiary of Webster Financial Corporation (NYSE: WBS - News), announced
today that Nathaniel C. Brinn, executive vice president, Corporate Development,
will assume the role of chief executive officer for its subsidiary HSA Bank,
based in Sheboygan, Wis. Brinn will continue to serve as executive vice president
of Webster Bank, N.A. and senior vice president of Webster Financial Corporation.
Since Webster's announcement of its acquisition in September 2004,
HSA Bank's health savings account deposits have grown 80% to more than
$180 million in more than 113,000 accounts. HSA Bank is currently the
nation's leading bank administrator for health savings accounts. Based on
current market research, HSA Bank expects new account volumes in upcoming
years to reach multiples of current levels, and will continue expanding
operations to provide customers with sophisticated products and services to
maintain its leadership position.
"The addition of executive resources for HSA Bank underscores Webster's
commitment to growing the HSA business," said James C. Smith, chairman and
chief executive officer of Webster Financial Corporation. "Working closely
with Kirk Hoewisch, president of HSA Bank and the capable team in Sheboygan,
Nat will ensure HSA Bank extends its position as the country's leading bank
administrator of health savings accounts."
Webster Executive Vice President and Chief Financial Officer William J.
Healy will assume responsibility for mergers and acquisitions.
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, 203-578-2287 Terry Mangan, 203-578-2318
mthompson@websterbank.com tmangan@websterbank.com