Santander Clears Final Hurdle in $12.2 Billion Webster Bank Acquisition

Banco Santander has received the green light from the Federal Reserve to complete its $12.2 billion acquisition of Stamford-based Webster Bank, a deal that will expand Santander's scale and round out its U.S. business model.

The authorization comes after approvals by the Connecticut Department of Banking and federal Office of the Comptroller of the Currency in June and the European Central Bank in July.

Santander expects to complete the deal on August 20, about six and a half months after announcing the agreement. The acquisition will bring most of Webster's businesses under Santander's banking franchise in the U.S., Santander Bank NA.

Webster is the largest Connecticut-headquartered bank, with 95 branches statewide and $40.4 billion in deposits in Connecticut as of June 2025. Christiana Riley, CEO and president of Santander US, said: 'We are pleased to be one step closer to this important, strategic acquisition.'