Webster Financial Corp. and Sterling Bancorp have announced the completion of their merger and the relocation of the combined entity”™s headquarters to Stamford.
The combined company, which will maintain the Webster name, has approximately $65 billion in assets, $44 billion in loans, and $53 billion in deposits based on balances as of Dec. 31, 2021 and operates 202 financial centers in the Northeast. Webster will have a continued multi-campus presence in the greater New York City area and in Waterbury, Webster”™s previous headquarters city; Sterling Bancorp was headquartered in Montebello, New York.
“Today marks a transformative moment in Webster’s history that will greatly benefit our colleagues, clients, communities and shareholders,” said John R. Ciulla, President and CEO of Webster. “Our bank will have enhanced scale, significant loan growth potential, best-in-class deposit franchises and a longstanding commitment to community development and corporate citizenship.”
