STAMFORD, Conn.--(BUSINESS WIRE)--Webster Financial Corporation (NYSE: WBS) today announced that its principal bank subsidiary Webster Bank, N.A. ("Webster") has completed the acquisition of Ametros Financial Corp ("Ametros"). The business will continue to operate under the Ametros and CareGuard brands following the acquisition.
Ametros, the nation's largest professional administrator of medical insurance claim settlements, helps individuals manage their ongoing medical care through their CareGuard service and proprietary technology platform. Ametros will continue to serve members via existing practices.
The acquisition of Ametros provides Webster a fast-growing source of low-cost and long-duration deposits, further diversifying Webster's deposits as well as noninterest income. Its operations will be fully integrated into Webster during the first quarter of 2024.
About Webster
Webster Financial Corporation (NYSE:WBS) is the holding company for Webster Bank, N.A. and its HSA Bank division. Webster is a leading commercial bank in the Northeast that provides a wide range of digital and traditional financial solutions across three differentiated lines of business including: Commercial Banking, Consumer Banking and its HSA Bank division, one of the country's largest providers of one of the country's largest providers of employee benefits solutions. Headquartered in Stamford, CT, Webster is a values-driven organization with more than
$70 billion in assets. Its core footprint spans the northeastern U.S. from New York to Massachusetts, with certain businesses operating in extended geographies. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.
About Ametros
Ametros is the industry leader in post-settlement medical administration and a trusted partner for thousands of members receiving funds from workers' compensation and liability settlements. Headquartered in Wilmington, Massachusetts, Ametros may be reached at 877.275.7415 or via www.ametros.com.
CAUTION REGARDING FORWARD LOOKING STATEMENTS
This communication contains certain forward-looking statements, including, but not limited to, certain expectations about the benefits of the acquisition and the go-forward operations of Ametros. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. The forward-looking statements in this communication are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995.
Contacts
Media Contact:
Alice Ferreira, 203-578-2610
acferreira@websterbank.com
Investor Contact:
Emlen Harmon, 212-309-7646
eharmon@websterbank.com
