WATERBURY, Conn., May 3, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Webster Bank, a
subsidiary of Webster Financial Corporation (NYSE: WBS), announced today that
it has received the U.S. Small Business Administration's (SBA) 2007 Excellence
in Lending Award for its outstanding overall record with SBA's 7(a) and 504
lending programs. The SBA held its "Small Business Week 2007" event on April
23-24 in Washington, D.C. where it honored Webster and other institutions for
their lending performance and commitment to assisting small businesses with
their financial needs.
"Webster has a strong record of supporting the growth of our region's
small businesses," stated Robert Polito, Webster senior vice president,
Business & Professional Lending. "At Webster, we know that the ability of
entrepreneurs to access capital in a timely and reliable manner is a critical
challenge. Our relationship with the SBA and its excellent loan programs has
been a valuable asset in helping us meet our customers' financial needs."
With the completion of Webster's acquisition of NewMil Bancorp in the 2006
fourth quarter, Webster's portfolio of SBA loans surpassed $100 million and
now accounts for more than 10 percent of Webster's Business and Professional
Banking loan portfolio.
Last year, for the fourth year in a row, Webster was named the most active
lender in the SBA's loan program in Connecticut. Webster was also named the
most active lender for the SBA's 504 loan program in Rhode Island for 2007.
Webster Financial Corporation is the holding company for Webster Bank,
National Association and Webster Insurance. With $16.9 billion in assets,
Webster provides business and consumer banking, mortgage, insurance, financial
planning, trust and investment services through 177 banking offices, 334 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 www.websteronline.com.
SOURCE
Webster Financial Corporation
Webster Bank Media:
Clark Finley
203-578-2287
cfinley@websterbank.com
or Investors:
Terry Mangan
203-578-2318
tmangan@websterbank.com