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Banco Santander Acquires Webster Financial

Banco Santander (SAN) is acquiring Webster Financial (WBS) in a deal expected to be completed soon pending final conditions.

Santander's Acquisition of Webster Approved by Federal Reserve

Banco Santander (SAN) and Webster Financial (WBS) announced that they have received the required approval from the Board of Governors of the Federal Reserve System for Santander's previously announced acquisition of Webster, the holding company for Webster Bank, N.A., a diversified U.S. retail and commercial bank. This follows the approval by the Office of the Comptroller of the Currency on June 12, and the authorization granted by the European Central Bank on July 21. The transaction is now expected to close on August 20, the companies stated. "The transaction is expected to strengthen Santander's U.S. franchise and accelerate the delivery of its financial objectives. Once integrated, Santander expects its U.S. business to achieve a return on tangible equity of around 18% by 2028, while the transaction is expected to generate approximately 7-8% earnings per share accretion and an estimated 15% return on invested capital, all by 2028. Upon closing, most of Webster's businesses will become part of Santander Bank, N.A., Santander's banking franchise in the United States. Until the transaction closes, Santander and Webster will continue to operate independently. Customers do not need to take any action at this time, and accounts, products, and services will continue to operate as they do today. Any future changes will be communicated in advance of implementation," they added.

Santander's Acquisition of Webster Approved by Federal Reserve

Banco Santander (SAN) and Webster Financial (WBS) announced that they have received the required approval from the Board of Governors of the Federal Reserve System for Santander's previously announced acquisition of Webster, the holding company for Webster Bank, N.A., a diversified U.S. retail and commercial bank. This follows the approval by the Office of the Comptroller of the Currency on June 12, 2026, and the authorization granted by the European Central Bank on July 21, 2026. The transaction is now expected to close on August 20, 2026.