Santander Receives Federal Reserve Approval for the Acquisition of Webster Financial Corporation
Key Highlights
- ➤Federal Reserve approves Santander (SAN SM) acquisition of Webster Financial (WBS).
- ➤August 20, 2026 expected closing date follows OCC and ECB approvals.
- ➤Santander U.S. business targets around 18% RoTE by 2028 after integration.
- ➤Transaction expected to deliver approximately 7–8% EPS accretion by 2028.
- ➤Transaction estimates approximately 15% return on invested capital by 2028.
- ➤Most Webster businesses will become part of Santander Bank, N.A. upon closing.
- ➤Webster (WBS) has more than $80 billion in total assets.
Expert Statements
Ana Botín, Executive Chair of Santander
“Santander US and Webster are a perfect match. Together, supported by Santander's global platforms, technology and expertise, we will create a stronger bank with the scale to better serve our customers and communities. This combination will strengthen our position in one of the world's most attractive banking markets and put us firmly on track to build one of the highest-performing banks among our U.S. peers.”
Christiana Riley, CEO and President of Santander Holdings USA, Inc. (Santander US)
“We are pleased to be one step closer to this important, strategic acquisition that will expand our scale and round out our U.S. business model. Bringing together these two highly complementary businesses, Santander will be well positioned to better serve our customers and clients, while helping local communities prosper. We are excited for this next chapter for Santander.”
John Ciulla, Chairman and CEO of Webster
“This is an exciting moment that will allow us to soon bring together our two great organizations to benefit our customers and communities. Santander's expanded scale, enhanced capabilities and financial strength will help us to deepen local relationships and build upon the trusted partnership that Webster customers have come to expect from us.”
Santander Receives Federal Reserve Approval for the Acquisition of Webster Financial Corporation
MADRID and STAMFORD, Conn., Aug. 4, 2026 /PRNewswire/ -- Banco Santander, S.A. ("Santander") and Webster Financial Corporation ("Webster") today 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.
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