January 4, 2019

Webster ranks high in regional bank survey

PHOTO | CONTRIBUTED
PHOTO | CONTRIBUTED

Webster Bank has been named best overall bank in the Northeast in Bank Director's annual RankingBanking study of regional, publicly traded financial institutions.

The 2019 study, released in late December, ranks public U.S. retail and commercial banks between $110 billion and $250 billion in assets within each region (Northeast, Midwest, South, West).

In addition to placing first overall in the Northeast, Webster also achieved top Northeast ranking in three categories: Best Technology Strategy, Best Board and Best Small-Business Strategy.

The rankings were calculated using Bank Director's proprietary algorithm, which incorporates more than 60 critical data points to measure banks' relative strengths and weaknesses. The data points used were both qualitative and quantitative, including case studies and analyst opinions.

The results represent "another independent report showcasing our good work across the organization, and a great way to kick off 2019," said Webster President and CEO John R. Ciulla.

A number of factors contributed to Webster's rankings, including the bank's focus on digital banking and user experience, the diversity and expertise of its board of directors and its small-business loan growth and volume.

"We also noted Webster's robust selection of products and services tailored for small businesses, the fact that customers can apply for loan and deposit products online and Webster's ability to generate online loan decisions within 48 hours," said Emily McCormick, Bank Director's vice president of research.

Headquartered in Brentwood, Tenn., Bank Director provides information products and resources for directors and officers of financial institutions across the United States.

Contact Michael Bingham at mbingham@newhavenbiz.com

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