1.5 star ratingAverage User Rating:
1.5 star rating based on 6 reviews.

Webster Bank

Webster Bank Locations
Webster Plaza
Waterbury, CT 06702
(203) 578-2230
www.websteronline.com

FDIC


Webster Bank is headquartered in Waterbury and is the 2nd largest bank in the state of Connecticut. It is also the 62nd largest bank in the nation. It was established in 1870 and as of December of 2012, it had grown to 2,823 employees at 167 locations. Webster Bank has a 4-star health rating.

Related Posts

Checking Account Bonuses of Up to $100 at Webster Bank in NY, MA, RI and CT - 5/17/2012

Webster Bank is offering four checking account bonuses with values that range from $50 to $100. The amount of the bonus depends on the checking account that is opened. As you might expect, the higher ...

Webster Bank's New Monthly Checking Account Fee (Forum) - 11/13/2010

Banks are starting to charge monthly fees on "free" checking accounts unless customers perform a required number of transactions or maintain a minimum balance. Here's the new Webster Bank fee described by this Boston.com article: Customers using Webster B

Checking Bonus Of $25 To $100 At Webster Bank In CT, MA, RI & NY (Forum) - 8/22/2010

Webster Bank is offering a checking bonus with a bonus of $25 to $100 depending on the type of checking account you open. Click on the details link for the full details. This is the same promo that they were offering in February.

Checking Account Bonus of up to $100 at Webster Bank in NY, MA, RI and CT - Local Only - 2/21/2010

Webster Bank is offering up to $100 for opening a checking account and with some additional requirements. Details are listed in the bank's promotions page . Three different bonuses are available for ...

2009

2008




See Rates for: Checking | Savings | Money Market | CD

Webster Bank Checking Account Rates

ApyMinMaxProduct
0.02%$50k-Premier Checking
0.01%--WebsterOne Checking

Webster Bank Savings Account Rates

ApyMinMaxProduct
0.30%$100k-Premier Savings
0.20%$100k-WebsterOne Savings
0.02%--Webster Value Savings
0.02%--Holiday Club Savings
0.02%$500-Webster Business Value Savings

Webster Bank Money Market Rates

ApyMinMaxProduct
0.25%$100k-Premier Business Money Market
0.20%$100k-Premium Money Market
0.15%$25k-Business Money Market

Webster Bank CD Rates

ApyMinMaxProduct
1.50%$1k-5 Year CD
1.00%$1k-4 Year CD
0.75%$1k-3 Year CD
0.50%$1k-2 Year CD
0.45%$1k-13 Month CD
0.05%$1k-6 Month Liquidity CD

Rates updated: 5/19/2013

Data for Q4 2012


Institution Statistics


Webster Bank, National Association
FDIC Certificate #18221
BankRate ReportView
Year Established1870
Employees2823
Primary RegulatorOCC

Assets and Liabilities

Assets$20.11 billion
Loans$11.96 billion
Deposits$14.77 billion
Equity Capital$2.06 billion
Loan Loss Allowance$177.13 million
Unbacked Noncurrent Loans$194.36 million
Real Estate Owned$3.20 million

Historic Data - December 2011

Assets$18.67 billion
Equity Capital$1.98 billion
Loan Loss Allowance$233.49 million
Unbacked Noncurrent Loans$188.08 million
Real Estate Owned$4.85 million

Profit Margin - Quarterly

Net Interest Margin3.35%
Return on Assets0.99%
Return on Equity9.61%
Interest Income$695.85 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio4
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2012 Webster Bank had $197.56 million in non-current loans and owned real-estate with $2.23 billion in equity and loan loss allowances on hand to cover it. This gives Webster Bank a Texas Ratio of 8.84% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Webster Bank held steady from 8.73% as of December 31, 2011 to 8.84% as of December 31, 2012, resulting in a negative change of 1.29%. This indicates that the balance sheet and financial strength for Webster Bank has held steady in recent periods.
Deposit Growth5
In the past year, Webster Bank has increased its total deposits by $904.57 million, resulting in 6.53% 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.
Capitalization4
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 $20.11 billion in assets with $2.23 billion in equity, resulting in a capitalization level of 11.11%, which is above average.
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Wouldn't Cash A State Tax Refund Check For Long Term Customer
1 stars - RWM - Thursday, July 5, 2012 - 5:39 PM

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

4

Stellar All Around
4 stars - User0 - Sunday, April 8, 2012 - 8:36 AM

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.

4

Slow On Home Equity Line Approval. Promise To Call Me Back Not Kept. Poor Service.
1 stars - tmaxroute5 - Wednesday, August 10, 2011 - 6:30 AM

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.

4

Would Not Give Military $500 Credit At Closing
1 stars - dann - Tuesday, May 14, 2013 - 11:55 AM

I worked on a refi for my in-laws in December 2012-February 2013. It not only took forever to close, but we kept getting more paperwork to sign after the closing. The WORST part is that the rep, Kimberly Lynch, just happened to "forget" to tell us that military (active or retired) get $500 back at loan closing.  I found out a week or so after the closing while looking at Webster's website for an answer to a question I had.  When I asked her about that, she said she simply forgot to ask during the assessment since she was talking with me and not them and that they won't make good on the money back!  Oh, OK-no problem.  The bank withheld $500 from a couple of seniors, one of which is going through cancer treatment-no problem that you didn't do your job!  BIG thanks for serving our country!  Now the loan was sold to Fannie Mae a week before the first payment was to begin.  Webster Bank is not to be trusted.

2

Worst Bank Ever
1 stars - meehow01 - Wednesday, January 9, 2013 - 7:03 AM

I've been with Webster Bank since for probably 18 years(about the time they took over Derby Savings bank). They started out as a very consumer focused bank looking to provide the best service and reaching out to the needs of their customers. Over the years it has become nothing but a money hungry corporate machine. The tellers in their branches are friendly(for the most part), but it is the overall institution that has become disconnected with their clientele. They are not flexible, they do not care about your needs, they WILL not go above and beyond for you in any situation. It is all about them and their bottom line. They can care less about you and your money. Believe me. If you open an account here, you'll be sorry you ever did. I have a business and have given them millions in deposits over the past few years and they could care less about me or my business. I will be removing ALL of my funds from Webster and closing all accounts.

2

Loans At Webster
1 stars - ernie - Monday, January 7, 2013 - 1:47 PM

I went to the bank on mills st. On Berlin I was treated very poorly . Truest to get a business loan , it took two months to get my results back cause Ana drop the ball on me . She never called me . She didn't give me the right forms and they stop the loan process . I had to restart the loan process again .and I got denied . But I think if I had someone helping me I might have got the loan . Webster is for the big business , not for the small business man. I close my account and went somewhere else .

2