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Webster Hunting Deposits From Business Sources.

Publication: American Banker
Publication Date: 25-FEB-08
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Webster Financial Corp. is one of a handful of companies putting more emphasis on commercial customers in response to the housing crisis.

The Waterbury, Conn., company and others have said recently that they are trying to make more commercial loans this year as they try to reduce a reliance on residential mortgages.

But behind the scenes, the $17 billion-asset Webster also is trying to boost commercial deposits. It hired a team of 10 business deposit officers over the summer to locate potential clients and then turn over the servicing and cross-selling to branch managers.

The group has had moderate success to...

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