WATERBURY, Conn., Dec. 8 /PRNewswire-FirstCall/ -- Webster Financial
Corporation (NYSE: WBS), the holding company for Webster Bank, N.A., today
announced it will continue to participate in the FDIC's Temporary Liquidity
Guarantee Program, which consists of the Transaction Account Guarantee Program
("TAGP") and the Debt Guarantee Program ("DGP"). The Temporary Liquidity
Guarantee Program was designed to strengthen confidence and encourage
liquidity in the banking system.
Webster's participation in the TAGP provides its customers with unlimited
FDIC coverage on all noninterest-bearing transaction deposit accounts, NOW
accounts paying no more than 0.50 percent and all IOLTA (Interest On Lawyer
Trust Accounts) deposit accounts through Dec. 31, 2009. Coverage for
depositors under the TAGP is in addition to and separate from the coverage
available under the FDIC's general insurance rules for deposits up to $250,000
through Dec. 31, 2009.
The DGP provides for the FDIC guarantee of newly issued senior unsecured
debt of eligible financial institutions. Through the DGP, Webster could issue
FDIC guaranteed senior unsecured debt on or before June 30, 2009 with a
maturity of June 30, 2012 or sooner.
Forward-looking Statements
Statements in this press release regarding Webster Financial Corporation's
business that are not historical facts are "forward-looking statements" that
involve risks and uncertainties. For a discussion of such risks and
uncertainties that could cause actual results to differ from those contained
in the forward-looking statement, see "Forward Looking Statements" in
Webster's Annual Report for 2007. Except as required by law, Webster does not
undertake to update any such forward looking information.
Webster Financial Corporation is the holding company for Webster Bank,
National Association. With $17.5 billion in assets, Webster provides business
and consumer banking, mortgage, financial planning, trust and investment
services through 181 banking offices, 484 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, Conn., and provides health savings account trustee and
administrative services through HSA Bank, a division of Webster Bank. Member
FDIC and equal housing lender. 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
CONTACT: Media: Ed Steadham, +1-203-578-2287, esteadham@websterbank.com;
Investors: Terry Mangan, +1-203-578-2318, tmangan@websterbank.com