Santander Receives Federal Reserve Approval for the Acquisition of Webster Financial Corporation
The deal is expected to close on Aug. 20 and add most of Webster's businesses to Santander Bank, N.A., the companies said.
- On Tuesday, August 4, 2026, Banco Santander, S.A. and Webster Financial Corporation announced they received Federal Reserve System approval for their acquisition, expected to close on August 20, 2026.
- The transaction received prior authorizations from the Office of the Comptroller of the Currency on June 12, 2026, and the European Central Bank on July 21, 2026.
- Christiana Riley, CEO and President of Santander Holdings USA, said, "We are pleased to be one step closer," while Webster Chairman and CEO John Ciulla called it "an exciting moment."
- Upon closing, most of Webster's businesses will become part of Santander Bank, N.A. Santander expects its U.S. business to achieve a return on tangible equity of around 18% by 2028.
- Customers do not need to take any action at this time, as accounts and services continue to operate normally; Santander will communicate any future changes in advance of implementation.
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The operation will allow the group to accelerate its financial objectives in the United States and aspire to a RoTE close to 18% in 2028 The Ifmif-Dones particle accelerator project in Granada, catalyst of opportunities for companies
The bank plans to complete on August 20 the acquisition of the United States entity by $12.2 billion, with which it will strengthen its commercial business and deposits in the largest financial market in the world
The Spanish entity obtains the last authorization of regulatory bodies that it lacked to acquire Webster. The operation will hopefully close on August 20th.
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