STOCK TITAN

Webster Raises Prime Lending Rate to 8.00 Percent

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

Webster Financial Corporation (NYSE: WBS), headquartered in Stamford, CT, announced an increase in its prime lending rate from 7.75% to 8.00%, effective March 23, 2023. This adjustment reflects the bank's strategic response to current economic conditions. Webster Bank, a major commercial bank in the Northeast, offers various financial solutions across commercial and consumer banking, as well as employee benefits through its HSA Bank division, which is among the largest in the U.S. The firm manages over $70 billion in assets and serves a broad geographic area from New York to Massachusetts.

Positive
  • Increase in prime lending rate from 7.75% to 8.00%, indicating strong financial positioning.
Negative
  • None.

STAMFORD, Conn.--(BUSINESS WIRE)-- Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, N.A. and its HSA Bank division, announced today that it has raised its prime lending rate to 8.00 percent from 7.75 percent, effective March 23, 2023.

About Webster

Webster Financial Corporation (NYSE:WBS) is the holding company for Webster Bank, National Association and its HSA Bank Division. Webster is a leading commercial bank in the Northeast that provides a wide range of digital and traditional financial solutions across three differentiated lines of business: Commercial Banking, Consumer Banking and its HSA Bank division, one of the country’s largest providers of employee benefits solutions. Headquartered in Stamford, CT, Webster is a values-driven organization with over $70 billion in assets. Its core footprint spans the northeastern U.S. from New York to Massachusetts, with certain businesses operating in extended geographies. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.

Media Contact:

Alice Ferreira, 203-578-2610

acferreira@websterbank.com

Investor Contact:

Emlen Harmon, 212-309-7646

eharmon@websterbank.com

Source: Webster Financial Corporation

FAQ

What is the new prime lending rate for Webster Financial Corporation (WBS)?

Webster Financial Corporation raised its prime lending rate to 8.00% effective March 23, 2023.

When did Webster Financial Corporation announce its prime lending rate increase?

Webster Financial Corporation announced the prime lending rate increase on March 22, 2023.

How does the prime lending rate increase affect Webster Financial Corporation (WBS)?

The increase in the prime lending rate to 8.00% can enhance Webster Financial Corporation's interest income, positively impacting profitability.

What are the business operations of Webster Financial Corporation (WBS)?

Webster Financial Corporation operates through commercial banking, consumer banking, and its HSA Bank division.

Where is Webster Financial Corporation (WBS) headquartered?

Webster Financial Corporation is headquartered in Stamford, Connecticut.

Webster Financial Corporation Waterbury

NYSE:WBS

WBS Rankings

WBS Latest News

WBS Stock Data

10.54B
169.86M
0.91%
88.43%
1.73%
Banks - Regional
National Commercial Banks
Link
United States of America
STAMFORD