Santander US has completed its acquisition of Webster Financial Corporation, forming a larger retail and commercial bank in the US.
The transaction was first announced in February 2026 and has been completed following the receipt of required shareholder and regulatory approvals, as well as the satisfaction of other customary closing conditions under the terms previously announced.
The combination brings together Santander’s existing US retail and commercial operations with Webster’s deposit and commercial banking business, extending Santander’s footprint in the Northeast. The company said the deal increases its national customer base to nearly eight million and supports a target of around 18% return on tangible equity (RoTE) in the US by 2028.
For customers, day-to-day banking is expected to remain largely unchanged in the near term. Existing accounts and products can continue to be accessed as before, and customers of both Santander Bank and Webster Bank can now use either network’s ATMs across the US without incurring fees. Santander said any further changes will be communicated in advance and that no immediate action is required from customers.
Leadership and integration structure
According to the official press release, most of Webster’s businesses have now been integrated into Santander Bank, with dedicated teams from both organisations managing the transition.
The acquisition adds to Santander’s broader US business lines, which include its Auto, Wealth, and Corporate and Investment Banking franchises, as the group continues to expand its presence in the market. In addition, Webster brings a relationship-driven deposit base, commercial banking capabilities, and a distinctive Healthcare Financial Services platform, which together are set to improve Santander US’s funding profile, business mix, and competitive relevance.
Upon closing, most of Webster’s businesses have become part of Santander Bank. Santander’s and Webster’s experienced integration teams will support a disciplined transition, focused on service continuity for customers and communities, employee engagement, and timely delivery of synergies.
