Webster Bank is headquartered in Waterbury and is the 2nd largest bank in the state of Connecticut. It is also the 65th largest bank in the nation. It was established in 1870 and as of March of 2014, it had grown to 2,754 employees at 169 locations. Webster Bank has a A+ health rating.
I am a senior who has had an account with Webster for many years, as has my wife. I tried to cash a $60 State tax refund check which both of us had signed. They would not do it stating it was a federal law that both parties had to be present in order to cash the check. Never mind that my wife and I have thousands in our accounts. So I took the check across the street to Coastway Bank where I also have an account with less funds in it and they cashed the check with no problems. I guess Federal law is only in effect at Webster. I'm going to move my money out of there and look for another bank to do most of my banking in. I can now understand why the general population used to cheer the 20's & 30's bank robbers when they robbed banks. When are they all going to call it a day and stop robbing all of us citizens?
PO'd in RI
Their 7-day guarantee is a joke. It has been 2 weeks and I have to chase down the branch manager every day. He said he would call me Monday. I had to call him at 6 PM. He said he would call me Tuesday before 4 PM so that he could get answers. He never called. I need a car but was getting a HELOC on a property that has no mortgage. THEY PROMISE EVERYTHING BUT CAN'T EVEN KEEP THEIR WORD ON GIVING YOU A PHONE CALL. DON'T GET A LOAN FROM THESE PEOPLE. I WOULDN'T EVEN WANT TO THINK ABOUT GETTING A MORTGAGE FROM THEM. It may take years. 1-800 customer service line not too helpful either.
Meriden branch has consistently gone above and beyond in terms of service and accomodations on checking, savings, ancillary issues. Presently moving our accounts from troubled, non-responsive BofA to Webster.
WARNING!!!!! This is the worst bank! I had banked with new Milford Savings Bank since the late 1980s Webster took over 7 approximately years ago. It was ok at first, but they have turned into a literal nightmare!! They do not care about their customers. They make mistakes and will not reverse fees. I wasn't even close to being overdrawn and I was charged 4 fees at 37. each I brought the printout in to the branch. They had no explanation she even called two different managers who also had no explanation. You would think at that point they would refund my money. NO!! They said they are only allowed to give one charge back. That is ludicrous!! Last Thursday, I made a deposit with my credit card machine, the money is available midnight the night I process it. I went into the bank Saturday to withdraw some of the money in order to pay employees, They had no record of the deposit. 1200$ gone. First Data informed the teller of the transaction reference number and proved that the money had indeed been deposited into my account on Friday at 12:01 am The teller basically said they have misplaced my money and even though they have proof of the deposit, they could not withdraw any money at this time. I had workers showing up at my house that day to get paid. They batched out their drawers while I was standing there so when I asked to at least withdraw the available funds so I could give them something, they told me they were closed. I was standing in the bank and they closed while waiting on me. She basically said "I don't know what to tell you, come back on Monday". This sort of thing happens over and over with this bank. I am officially done with these guys. Its terrible that they took over the bank that I was happy with, play games with my money and cause me a lot of stress. I cant run a business like this! DO NOT bank here, anywhere but here!!
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Webster Bank had $153.16 million in non-current loans and owned real-estate with $2.36 billion in equity and loan loss allowances on hand to cover it. This gives Webster Bank a Texas Ratio of 6.50% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Webster Bank decreased slightly from 9.10% as of March 31, 2013 to 6.50% as of March 31, 2014, resulting in a positive change of 28.63%.This indicates that the balance sheet and financial strength for Webster Bank has improved slightly in recent periods.
In the past year, Webster Bank has increased its total deposits by $564.48 million, resulting in 3.8% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Webster Bank has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Webster Bank has $21.15 billion in assets with $2.36 billion in equity, resulting in a capitalization level of 11.14%, which is excellent.
|FDIC Certificate #||18221|
|Assets and Liabilities|
|Equity Capital||$2.20 billion|
|Loan Loss Allowance||$153.60 million|
|Unbacked Noncurrent Loans||$145.50 million|
|Real Estate Owned||$7.66 million|
|Historic Data - March 2013|
|Equity Capital||$2.08 billion|
|Loan Loss Allowance||$167.84 million|
|Unbacked Noncurrent Loans||$145.50 million|
|Real Estate Owned||$3.55 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.29%|
|Return on Assets||1.04%|
|Return on Equity||10.09%|
|Interest Income||$178.20 million|
Always verify rates and promotions with the bank or credit union. We are not Webster Bank, we are a rate comparison website and can not provide official rates or promotions.
|0.02%||-||-||Webster Value Savings|
|0.02%||-||-||Holiday Club Savings|
|0.02%||$500||-||Webster Business Value Savings|
|0.25%||$100k||-||Premier Business Money Market|
|0.20%||$100k||-||Premium Money Market|
|0.15%||$25k||-||Business Money Market|
|2.00%||$1k||-||5 Year CD|
|1.50%||$1k||-||4 Year CD|
|1.25%||$1k||-||3 Year CD|
|0.75%||$1k||-||2 Year CD|
|0.45%||$1k||-||13 Month CD|
|0.05%||$1k||-||6 Month Liquidity CD|