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Webster Bank provides personal and commercial banking services in the New York Metro area. For individuals, it offers online and mobile banking that lets customers manage accounts, pay bills, and access financial information securely from anywhere. For businesses, it offers commercial and business banking with online and mobile tools to manage finances across multiple locations, including bill payment and account management. The bank differentiates itself through its long local presence since 1935, a focus on serving communities and businesses in the NY Metro region, and an emphasis on secure, convenient digital banking. The goal is to support people and companies with accessible, secure financial services that meet their everyday banking needs.
Industries
Financial Services
Company Size
1,001-5,000
Company Stage
Acquired
Total Funding
$12.2B
Headquarters
Waterbury, Connecticut
Founded
1935
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Total Funding
$12.2B
Above
Industry Average
Funded Over
1 Rounds
Professional Development Budget
Performance Bonus
Hybrid Work Options
Remote Work Options
CB&I, a provider of integrated storage and asset-management solutions, has closed an upsized senior secured credit facility of $625 million, up from $400 million. The expanded facility comprises a $500 million revolving credit facility and a new $125 million Term Loan A, both maturing on 4 December 2028. The additional capacity replenishes cash used to acquire Asset Solutions, previously part of the Petrofac Group, and enhances financial flexibility for future investments. The revolving credit facility remains undrawn at closing, with CB&I having no funded debt outstanding. Citibank led the syndication, which added Goldman Sachs Bank USA and Zions Bancorporation to the lending group. Existing lenders include Truist Securities, National Bank of Canada, Webster Bank, Texas Capital Bank, Crédit Agricole CIB, Wells Fargo, and J.P. Morgan.
Webster Bank has implemented Prolific Banking's FI-Streams Connector, using Plaid's FDX-aligned API specification Core Exchange, to enable secure financial data connectivity for commercial clients. The integration allows Webster's business customers to access over 7,000 apps and services on Plaid's network, including accounting platforms and treasury management tools. The custom-built connector was designed specifically for Webster's commercial banking workflows, integrating with the bank's digital banking platform for account entitlements and user authorisation. Commercial clients can now securely share account information, transaction history and authentication features with third-party financial applications. The implementation provides real-time data access whilst maintaining security and institutional control, reflecting growing demand for open banking infrastructure in commercial banking.
UMB Financial delivered the strongest performance among regional banks in Q1, reporting revenues of $744.8 million, up 29.3% year on year and exceeding analysts' expectations by 5.4%. The company beat estimates for earnings per share and net interest income. Webster Financial reported revenues of $735.9 million, up 4.4% year on year, surpassing expectations by 0.9%. However, results were mixed, with the revenue beat offset by a slight miss on tangible book value per share estimates. The stock remained flat following the announcement and currently trades at $72.61. The 91 regional banks tracked reported revenues in line with consensus estimates for Q1. Share prices across the sector have held relatively steady since earnings results. Regional banks face challenges including fintech competition, commercial real estate exposure and regulatory compliance costs.
Webster Financial reported first-quarter fiscal 2026 results with revenue of $735.9 million, up 4.4% year on year and exceeding analyst estimates of $729.5 million by 0.9%. However, the regional banking company's GAAP profit of $1.50 per share missed consensus expectations by 2.6%. Net interest income came in at $634.4 million, slightly below the $635.1 million estimate, representing a 34.8% year-on-year decline. The net interest margin was 3.4%, in line with expectations. The efficiency ratio of 46.8% beat analyst estimates of 49.6%. Founded in 1935, Webster Financial provides commercial banking, consumer banking and employee benefits solutions through Webster Bank and HSA Bank. The company's market capitalisation stands at $11.58 billion.
We Lend, a private real estate lender with deep roots in the New York and New Jersey markets, has closed... Read More
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Industries
Financial Services
Company Size
1,001-5,000
Company Stage
Acquired
Total Funding
$12.2B
Headquarters
Waterbury, Connecticut
Founded
1935
Find jobs on Simplify and start your career today