Webster Financial (WBS) Announces Stakeholder Offering And $100 Million Buyback

Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, N.A., announced today that Warburg Pincus Private Equity X, L.P. and one of its affiliates intend to offer for sale in an underwritten secondary offering 10,000,000 shares of Webster's common stock pursuant to Webster's shelf registration statement filed with the Securities and Exchange Commission. Warburg Pincus will receive all of the proceeds from this offering. No shares of common stock are being sold by Webster.

Barclays is acting as sole underwriter for the common stock offering.

Additionally, Webster announced that its Board of Directors has authorized a $100 million common stock repurchase program under which shares may be repurchased from time to time in open market or privately negotiated transactions, subject to market conditions and other factors.

In connection with the common stock repurchase program, Webster will purchase approximately 2,500,000 shares of its common stock in the offering at a price per share equal to the price per share being paid by the underwriter to Warburg Pincus in the offering.

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