Completes Goodwill Impairment Analysis
WATERBURY, Conn., Feb. 24 /PRNewswire-FirstCall/ -- Webster Financial
Corporation (NYSE: WBS), the holding company for Webster Bank, N.A., today
announced that it has completed the goodwill analysis discussed in its January
23, 2009 preliminary earnings release and that no additional charge will be
recorded for 2008. The company also indicated that there is no change in the
valuation allowance for its deferred tax asset as of December 31, 2008.
Webster will continue testing its goodwill for potential impairment in future
periods.
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, 492 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; Investor: Terry Mangan
, +1-203-578-2318,
tmangan@websterbank.com, both of Webster Financial Corporation/