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Webster Bank in ATM branding deal

12 December 2007  |  1775 views  |  0 Source: Webster Financial Corporation

Webster Financial Corporation (NYSE:WBS) announced today that its wholly-owned subsidiary, Webster Bank, National Association, has entered into an agreement to place its brand on 158 ATMs in select Walgreens' pharmacy stores in Massachusetts, Rhode Island and Connecticut.

Approximately 150 of the new ATMs will be in Webster's Massachusetts and Rhode Island market regions. The project is scheduled to begin and reach completion in the first quarter of 2008.

Webster will not charge withdrawal fees to customers who use their Webster debit or ATM cards in these new ATMs.

"Webster continues to find a way to provide our customers better convenience and access to our services," stated Webster Chairman and Chief Executive Officer James C. Smith. "This branding agreement is an excellent complement to Webster's branch expansion program and establishes another distribution platform for our future growth in Rhode Island and the Boston market."

With the completion of this ATM program coupled with the company's plans for continuing expansion strategies, Webster expects to have more than 500 ATMs operating in its footprint by the second quarter of 2008.

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