Webster Receives Sixth Consecutive `Outstanding' Rating for CRA.Business Editors WATERBURY, Conn.--(BUSINESS WIRE)--April 18, 2002 Webster Financial Corporation (Nasdaq: WBST WBST Wonderlic Basic Skills Test WBST Wide Band Subscriber Terminal ), the holding company for Webster Bank Webster Bank is a bank based based out of Waterbury, Connecticut. It is the largest Connecticut based bank and the 42nd largest in the United States. History Webster was founded in 1935 by Harold Webster Smith. , today announced that the bank has received from its primary regulator the highest rating awarded for its performance under the Community Reinvestment Act Community Reinvestment Act (CRA) Enacted by Congress in 1977, the CRA encourages banks to help meet the credit needs of their communities for housing and other purposes, particularly in neighborhoods with low or moderate incomes, while maintaining safe and sound operations. . This is Webster's sixth consecutive "Outstanding" rating from the Office of Thrift Supervision The Office of Thrift Supervision (OTS) was established as a bureau of the Treasury Department in August 1989 as part of a major Reorganization Plan of the thrift regulatory structure mandated by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) (12 U.S.C.A. . "Webster is committed to making meaningful investments in the communities we serve," said James C. Smith, Webster's chairman and chief executive officer. "We work hard to build strong relationships with our communities, not because it's a regulatory requirement Regulatory requirements are part of the process of drug discovery and drug development. Regulatory requirements describe what is necessary for a new drug to be approved for marketing in any particular country. , but because it is the right thing to do. We are fulfilling our pledge to respect the dignity of every individual." The Office of Thrift Supervision rates financial institutions after a thorough review of each lender's record of meeting the credit needs of the people it serves, including those of low- and moderate-income levels. The review examines the bank's lending, investment and service performance. In addition to being a leading mortgage lender throughout Connecticut, Webster is an active partner with several revolving loan funds in Hartford, New Britain New Britain, city, United States New Britain, industrial city (1990 pop. 75,491), Hartford co., central Conn.; settled c.1686, inc. 1871. The tin shops and brassworks in the city were established in the 18th cent. , New Haven New Haven, city (1990 pop. 130,474), New Haven co., S Conn., a port of entry where the Quinnipiac and other small rivers enter Long Island Sound; inc. 1784. Firearms and ammunition, clocks and watches, tools, rubber and paper products, and textiles are among the many and Waterbury targeting affordable housing. Webster is also an active small business lender: its volume of small business loan originations increased 67 percent in the past two years. During the past two years Webster made $22 million in community development investments, which regulators said "showed an excellent response to credit and community development needs." The bank also awarded 212 community development grants amounting to $773,000 to support activities essential to low- and moderate-income individuals. Webster's "outstanding" service rating reflects the consistent commitment the company makes to ensure that the widest range of products and services are available to all its communities. This rating is supported by the thousands of hours Webster employees give of themselves in the communities they serve through creative and productive qualified volunteer activities. Webster also was recognized for its work in community and economic development with many organizations including: - Connecticut Department of Community and Economic Development - Federal Home Loan Bank of Boston - Small Business Administration - Connecticut Small and Minority Business Development Showcase - Connecticut Housing Finance Authority - Fannie Mae - Freddie Mac - Connecticut Housing Investment Fund - Community Economic Development Fund - Connecticut Affordable Housing Coalition - Neighborhood Housing Services of New Britain, New Haven and Waterbury - Local Initiatives Support Corporation Webster Financial Corporation is the holding company for Webster Bank and Webster Insurance. With $12 billion in assets, Connecticut-based Webster Bank provides business and consumer banking, mortgage, insurance, trust and investment services through more than 100 banking offices, 210 ATMs and the Internet (www.websterbank.com). Webster Financial Corporation is a majority owner of Chicago-based Duff & Phelps, a leader in financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . Webster Bank owns Center Capital Corporation, an equipment leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
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