BOSTON, July 26, 2010 – Webster Bank, the main subsidiary of Webster Financial Corporation (NYSE: WBS), announced today that it is providing $4.5 million in financing for Attleboro Enterprises, Inc.(AEI), a nonprofit human services agency based in North Attleboro, Mass. The financing package includes Webster’s purchase of $2.8 million in tax-exempt bonds from MassDevelopment and a $1.7 million line of credit for working capital. Webster has also been named AEI’s primary bank.
“Without the support of Webster Bank and our capital campaign donors, AEI would not have been able to build the facility we now occupy,” said AEI President Jerry Pilkington. “Our newly renovated and expanded facility is providing innovative and exciting service options for individuals with developmental disabilities. In the short time that we have occupied the new space, fruitful collaborations and partnerships have come to light that simply were not possible in our former building.”
“At Webster, our number one priority is helping our customers realize their financial goals,” said Paul Mollica, senior vice president, commercial banking,” said Paul Mollica, senior vice president, commercial banking for Webster Bank. “Our excellent working relationship with Mass Development allowed us to do just that for Attleboro Enterprises and the many families and individuals they serve.”
About Attleboro Enterprises, Inc.:
Attleboro Enterprises, Inc. (AEI) is a non-profit human service organization that supports over 200 adults with diverse developmental challenges through four program areas; residential, employment, community based day supports and day habilitation services. AEI operates eight residences in southeastern Massachusetts. Employment training and job placement programs offer on-site employment opportunities at the North Attleboro site as well as job placement in the community. CBDS offers participants the opportunity to volunteer in the community and develop skills in vocational, social and recreational settings. Day Habilitation provides clinical and therapeutic supports as well as developmental skills education. AEI’s programs aim to empower individuals to become contributing members of society, build positive self-esteem, and enable them to achieve individual life goals. AEI’s three-year accreditation by CARF ensures the gold standard of industry excellence to its participants.
About Webster:
Webster Financial Corporation is the holding company for Webster Bank, National Association. With $17.7 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust and investment services through 181 banking offices, 500 ATMs, telephone banking and the Internet. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation, Webster Capital Finance, Inc., 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.websterbank.com.
Webster Media Contact:
Brenda F. Greene (401) 228-2083
bgreene@websterbank.com
Webster Investor Contact:
Terry Mangan (203) 578-2318
tmangan@websterbank..com
AEI Media Contact:
Shelly Jutras (508) 695-4046
sjutras@attleboroenterprises.org