Santander Bank To Acquiring Stamford-Based Webster Bank

Santander Bank is acquiring Stamford-based Webster Bank in a deal worth about 12 point 2 billion dollars.

According to officials, Santander and Webster will continue to operate as separate companies until the transaction closes.

Federal officials must approve the deal which is expected to close before the end of the year.

Webster's existing headquarters in Stamford will be a core corporate office for Santander, alongside its other corporate offices in Boston, New York, Miami, and Dallas.

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