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WEBSTER FINANCIAL CORPORATION ELECTS THREE DIRECTORS AT ANNUAL MEETING

WEBSTER FINANCIAL CORPORATION ELECTS THREE DIRECTORS AT ANNUAL MEETING
 WATERBURY, Conn., April 28 /PRNewswire/ -- Joel S. Becker, Harold W. Smith and James C. Smith were reelected as directors of Webster Financial Corporation (NASDAQ: WBST) for three-year terms at the Corporation's annual shareholders' meeting held today in Waterbury. The appointment of KPMG Peat Marwick as independent auditors of the Corporation for the fiscal year ending Dec. 31, 1992 was ratified at the meeting. Shareholders also approved the 1992 Stock Option Plan for 155,000 shares of common stock. Webster Financial Corporation is the holding company for First Federal Bank, a Waterbury, Conn.-based federal savings bank with $886 million in assets.
 Joel S. Becker is Chairman of the Board and Chief Executive Officer of Torrington Supply Co., Inc., Waterbury, Conn. Becker has served as a director of the Corporation since its formation in 1986.
 Harold W. Smith, Chairman of the Board, retired as Chief Executive Officer of the Corporation and the bank on Dec. 31, 1987. He had served as managing officer of the Bank since its founding in 1935. He serves as a consultant to the Corporation and the Bank. Mr. Smith has served as Chairman of the Board of the Corporation since its formation in 1986.
 James C. Smith is President and Chief Executive Officer of the Corporation and the Bank. He joined the Bank in 1975. He was elected to his current position in 1987. Smith was elected President and Chief Operating Officer of the Corporation upon its formation in 1986 and of the Bank in 1982. Smith has served as a director of the Corporation since its formation in 1986.
 At the annual meeting of shareholders, President and Chief Executive Officer James C. Smith reviewed the highlights of 1991, the results for the first quarter of 1992 and the outlook for the year. Webster previously reported earnings of $1.1 million, or 33 cents per share for the first quarter of 1992, compared to $784,000 or 25 cents per share for the same period a year ago. Webster reported yesterday that the board of directors declared a regular quarterly cash dividend of 13 cents per share, payable May 15, 1992 to shareholders of record on May 6, 1992.
 -0- 4/28/92
 /CONTACT: Mark S. Mitchell of Webster Financial, 203-755-1422/
 (WBST) CO: Webster Financial Corporation ST: Connecticut IN: FIN SU:


DH -- NE016 -- 4014 04/28/92 16:44 EDT
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Date:Apr 28, 1992
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