Webster is the U.S. Small Business Administration's Most Active Lender in Connecticut for SBA 504 Loans

Business Wire, Nov 8, 2004

WATERBURY, Conn. -- Webster Bank, N.A., a subsidiary of Webster Financial Corporation (NYSE:WBS), announced today that for the second year in a row, it is the U.S. Small Business Administration's most active lender for the SBA Certified Development Company 504 loan program, dealing mainly with real estate and machinery and equipment financing. In addition, Webster has been recertified as an SBA preferred lender in Connecticut, Massachusetts and Rhode Island.

The SBA 504 loan program provides growing businesses with long-term, fixed-rate financing and supports community economic development. The program is intended for borrowers who want to acquire major fixed assets and are typically underserved by traditional loan programs.

"Achieving the distinction of most active lender for the SBA 504 program for two consecutive years underscores Webster's commitment to meeting the financial needs of the communities we serve," said Robert Polito, Jr., senior vice president and director of government guaranteed lending for Webster Bank. "Utilizing the SBA's programs, Webster has found a way to encourage business development, add new jobs and retain existing jobs throughout our markets."

Webster was recertified as a preferred lender due to its high loan volume, its ability to meet the public policy goals of the SBA and its rating of "substantially compliant," which indicates the highest quality annual audit. Only ten percent of banks achieve this rating. As a preferred lender for the U.S. Small Business Administration, Webster can act on behalf of the SBA for its loan guarantees.

Webster Financial Corporation is the holding company for Webster Bank, National Association and Webster Insurance. With $17.8 billion in assets, Webster provides business and consumer banking, mortgage, insurance, financial planning, trust and investment services through 148 banking offices, 276 ATMs, telephone banking and the Internet. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation, the insurance premium finance company Budget Installment Corp., and Center Capital Corporation, an equipment finance company headquartered in Farmington, Connecticut.

For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websteronline.com.