**Santander to Acquire CT-Based Webster Bank for $12.2 Billion**
Banco Santander, the parent company of Boston-based Santander Bank, has announced it will acquire Webster Financial Corporation — the holding company for Webster Bank, N.A. — for $12.2 billion. The move will significantly strengthen Santander’s presence in the U.S., positioning the combined entity as one of the top-10 retail and commercial banks in the country by assets, and establishing a top-five deposit market share across key states in the Northeast.
Christiana Riley, CEO of Santander US, emphasized the strategic value of the acquisition, stating, “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.”
Webster Bank, founded in 1935, operates branches across New England and the New York metropolitan area. The newly formed banking network will allow Santander to deepen its reach in key regional markets while enhancing its capabilities in both retail and commercial services.
