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Webster Financial Corporation Stage: Growth Date of Investment: 7/27/2009 Web Site : http://www.websteronline.com
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Webster Financial Corporation is the holding company for Webster Bank, National Association, a $17.5 billion asset bank headquartered in Waterbury, Connecticut. With origins back to 1935, Webster provides business and consumer banking, mortgage, financial planning, trust and investment services through 181 banking offices and 492 ATMs located in southern New England. It also has national programs for asset-based lending, equipment and insurance premium finance, health savings accounts, and trust administrative services. 85% of the Company's deposits reside in its 141 Connecticut branches, where the Company maintains number two market share behind Bank of America. On July 27, 2009, Warburg Pincus agreed to invest $115 million in Webster for common stock and warrants, subject to necessary approvals. The investment further strengthens Webster's capital base and enables the Company to capitalize on opportunities in the current banking markets.
