$169,000 in donations made in fourth quarter;
Employees collect 6 tons in annual food drive
WATERBURY, Conn., January 8, 2010 — Webster Bank, N.A., a subsidiary of Webster Financial Corporation (NYSE: WBS), gave more than $169,000 to help feed the hungry in the fourth quarter of 2009. And in December, its employees completed their annual “We Can Make a Difference” food drive, collecting six tons of donated items.
“Helping meet the basic needs of those in our community is a priority of Webster’s Community Affairs program,” said Kathy Luria, vice president, community affairs. “So when the food banks and soup kitchens are in need, we find a way to respond. With unemployment remaining high across our four-state market area, and food pantries everywhere reporting increased demand, our neighbors need help now more than ever.”
More than 50 organizations that feed the hungry in Connecticut, Massachusetts, Rhode Island and New York received donations from Webster in the fourth quarter, from local food pantries and shelters to soup kitchens to statewide food banks.
The “We Can Make a Difference” food drive, which collected donations at Webster branches and offices, lasted five weeks, wrapping up just before Christmas.
At Webster’s Resource Center in New Britain, Conn., 58 bags of food were collected and delivered to the Salvation Army in New Britain — and not a moment too soon. “The shelter ran out of food the day before, so our timing was perfect,” said Nancy Matos, bank operations manager.
A Hamden, Conn., branch reported collecting the most items ever during this year’s drive. They were delivered to the M.L. Keefe Community Center’s food bank in Hamden. “They were so happy to get it all,” said branch Manager Nancy Colavolpe. “There were people already waiting for the food. It is hard to believe that in this country so many are in need.”
About Webster
Webster Financial Corporation is the holding company for Webster Bank, National Association. With $17.8 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, 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.
Forward-looking statements
This press release may contain forward looking statements within the meaning of the Securities Exchange Act of 1934, as amended. Actual results could differ materially from management expectations, projections and estimates. Factors that could cause future results to vary from current management expectations include, but are not limited to, general economic conditions, legislative and regulatory changes, monetary and fiscal policies of the federal government, changes in tax policies, rates and regulations of federal, state and local tax authorities, changes in interest rates, deposit flows, the cost of funds, demand for loan products, demand for financial services, competition, changes in the quality or composition of our loan and investment portfolios, changes in accounting principles, policies or guidelines, and other economic, competitive, governmental and technological factors affecting our operations, markets, products, services and prices. Some of these and other factors are discussed in the annual and quarterly reports of Webster Financial Corporation previously filed with the Securities and Exchange Commission. Such developments, or any combination thereof, could have an adverse impact on the company's financial position and results of operations. Except as required by law, Webster does not undertake to update any such forward looking statements.