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Santander to Acquire CT-Based Webster Bank for $12.2B

Banco Santander, the parent company of Boston-based Santander Bank, has agreed to acquire Webster Financial Corporation, holding company for Webster Bank, N.A., for $12.2 billion. The acquisition of Stamford, CT-based Webster complements the Santander U.S. franchise by positioning the combined business as a top 10 retail and commercial bank in the U.S. by assets and a top five deposit franchise across key states in the Northeast.

Christiana Riley, CEO of Santander US, said, “This acquisition is a significant step forward in strengthening our commercial banking presence and filling in our retail branch footprint and scale, particularly in Connecticut, where we are committed to maintaining a broad branch presence. The acquisition meaningfully expands our commercial franchise, resulting in a more balanced business mix and positioning us for sustainable, long-term growth. 

Founded in 1935, Webster Bank has locations throughout New England and the New York metropolitan area.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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