Fed Clears Santander’s $12 Billion Purchase of Webster Bank

Overview

• Santander said the Federal Reserve granted approval, a step it disclosed on Aug. 4, and the bank now expects the $12 billion deal to close on Aug. 20, 2026.
• The transaction already won sign‑off from the Office of the Comptroller of the Currency in June and the European Central Bank in July, completing the main regulatory review sequence.
• When the deal closes, most of Webster’s businesses will become part of Santander Bank, N.A., and both banks will continue to operate separately until formal integration.
• Customers do not need to take any action now and existing accounts, products and services will remain unchanged until Santander communicates any future changes.
• Santander says the acquisition will raise its U.S. scale, deepen its commercial franchise in Connecticut, expand its branch network and digital capabilities and move the combined business toward a top‑10 U.S. bank by assets.