Webster Financial Acquisition, Valuation & Financials

Webster Financial was acquired by Santander for $12B in February 2026, a 2.8x multiple on $4.4B of revenue.

Webster Financial acquisition price

$12B

Acquired by Santander · Feb 2026

Webster Financial revenue at acquisition

$4.4B

Last twelve months · Feb 2026

Webster Financial revenue multiple at acquisition

2.8x

EV/Revenue · Feb 2026

Webster Financial market cap before the deal

$13B

NYS: WBS · Aug 2026

Webster Financial Overview

About Webster Financial

Webster Financial Corp is a full-service provider of financial services, offering commercial and consumer banking, mortgages, and investment advisory along with trust and wealth management services in Connecticut, New York, Rhode Island, Massachusetts, and Pennsylvania. The company's segment includes Commercial Banking, HSA Bank, and Consumer Banking. It generates maximum revenue from the Commercial Banking segment.


Founded

1986

HQ

United StatesMontpelier, VT

Status

Acquired

Customer focus

B2C & B2B

Revenue model

Services

Revenue

$4.4B (Feb 2026)

Valuation

$12B (acquired Feb 2026)

Webster Financial Acquisition

Webster Financial was acquired by Santander for $12B on 3 February 2026.

The acquisition price implies a 2.8x revenue multiple on $4.4B of revenue.

Webster Financial acquisition details
AcquirerDateTypePriceEV/Revenue
3 Feb 2026Strategic M&A$12B2.8x

Webster Financial as a Public Company

Webster Financial traded as NYS: WBS before it was taken private. Its acquisition was announced in February 2026. August 2026 is its last month on record as a listed company, with a market cap of $13B and an enterprise value of $13B.

Last-twelve-month revenue was $3B, and the shares traded at 4.2x EV/Revenue.

Over the 4 years before that, its market cap grew from $8.3B in August 2022 to $13B, while revenue grew from $2B to $3B.

Webster Financial market cap while listed

Webster Financial EV/Revenue (LTM) while listed

Webster Financial financials and trading multiples by year while listed
As ofMarket capRevenue (LTM)EV/Revenue
Aug 2026$13B$3B4.2x
Aug 2025$10B$2.8B3.7x
Aug 2024$8.1B$2.7B3.0x
Aug 2023$7.3B$2.7B2.8x
Aug 2022$8.3B$2B4.1x

Market cap, enterprise value and last-twelve-month figures are month-end values, up to the last month Webster Financial traded.

Acquisitions by Webster Financial

Webster Financial has acquired 4 companies to date.

Last acquisition by Webster Financial was on December 14th 2023. Webster Financial acquired Ametros for $350M.


Latest Acquisitions by Webster Financial

Ametros
InterLINK
Bend Financial
Sterling Bancorp
Description
-
-
Bend Financial is a platform optimizing HSA management and healthcare expense strategies for employers and individuals. It automates eligibility checks, contribution limits, reimbursements, and tax filings using AI to identify savings opportunities. Bend integrates with payroll systems like ADP and health plans from Aetna, serving mid-sized businesses nationwide from its Chicago headquarters.
Sterling Bancorp is a Montebello, New York-headquartered bank holding company owning Sterling National Bank, which provides commercial banking, residential mortgages, and consumer loans to businesses and communities in the New York metropolitan area and New England. Merged with Webster Financial Corporation in 2022, it originates multifamily loans and equipment financing under the combined Webster Bank brand.
HQ CountryUnited StatesUnited StatesUnited StatesUnited States
HQ City
-
-
Boston, MA
New York City, NY
Deal Date14 Dec 20235 Dec 202216 Feb 202219 Apr 2021
Valuation$350M$158M$55M$10B
EV/Revenue
EV/EBITDA

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Investments by Webster Financial

Webster Financial has invested in 3 companies to date.

Latest investment by Webster Financial was on March 25th 2024. Webster Financial invested in Goalsetter in their $10M Series A round.


Latest Investments by Webster Financial

Goalsetter
FinTron
Payrailz
Description
Goalsetter is a financial literacy platform for families and schools headquartered in Minneapolis, Minnesota. The app provides debit cards with parental controls, goal-tracking savings, and educational content on budgeting. Goalsetter Classroom delivers K-12 curricula integrated with Google Classroom, partnering with districts in 20 U.S. states.
FinTron is a mobile-first fintech platform offering investing and banking services for young adults. It provides pre-built ETF portfolios, fractional shares, high-yield savings, and educational modules on markets and budgeting. The New York-headquartered app integrates with Acorns-style automation. Launched in 2021, FinTron serves U.S. users with FDIC-insured accounts and zero-commission trades.
Payrailz is a Glastonbury-headquartered digital payments provider founded in 2016, specializing in bill pay and transfers for banks and credit unions. Its AI-powered Paywaze engine enables payments via web, mobile, voice devices, messaging, and bots. The platform integrates with core banking systems for automated collections and remittances.
HQ CountryUnited StatesUnited StatesUnited States
HQ City
New York City, NY
Stamford, CT
Hartford, CT
Deal Date25 Mar 20241 Jun 20224 Dec 2017
RoundSeries ASeries ASeries A
Raised$10M$7M$6M
InvestorsAstia; Partnership Fund for New York City; InTouch Credit Union; Fiserv; Seae Ventures; Reseda Group; Edward Jones; MassMutual Catalyst FundConnecticut Innovations; Sage Venture Partners; AUA Capital ManagementTTV Capital; First Data Corporation; CardConnect; LiveOak Ventures; Woodforest National Bank
Valuationundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Webster Financial Competitors

Webster Financial competitors include listed companies like Alpha Bank Group, Arab National, Chiba Bank and Power Finance Corporation, and private ones like Shenzhen Rural Commercial Bank and Starling Bank.

Public and private companies comparable to Webster Financial
CompanyHQStatusRevenueValuationRevenue Multiple
Alpha Bank GroupGreeceGreecePublicly listed$2.5B$12B4.3x
Arab NationalSaudi ArabiaSaudi ArabiaPublicly listed$2.6B$12B4.4x
Chiba BankJapanJapanPublicly listed$1.9B$12B7.7x
Shenzhen Rural Commercial BankChinaShenzhenPrivate-$12B-
Power Finance CorporationIndiaIndiaPublicly listed$4.5B$12B4.4x
Starling BankUnited KingdomLondonPrivate$1.2B$5.4B4.5x

Webster Financial Public Comps

Webster Financial is no longer listed, but its public comps include Alpha Bank Group, Arab National, Chiba Bank, Power Finance Corporation, Industrial Bank of Korea, Canara Bank, Bank of Chengdu, Indian Bank, Shanghai Rural Commercial Bank and Bank of Baroda.

Last FYEV/RevenueEV/EBITDA
RevenueLast FYLTM2027ELast FYLTM2027E
Alpha Bank Group$2.5B4.8x4.3x--
Arab National$2.6B4.6x4.4x--
Chiba Bank$1.9B6.2x7.7x--
Power Finance Corporation$4.5B2.6x4.4x-4.6x
Industrial Bank of Korea$7.3B1.6x1.9x--
Canara Bank$6.7B1.8x1.7x--
Bank of Chengdu$3.5B3.4x3.3x--
Indian Bank$4B3.0x2.9x--

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Common questions about Webster Financial

When was Webster Financial founded?Webster Financial was founded in 1986.
Where is Webster Financial headquartered?Webster Financial is headquartered in Montpelier, VT, United States.
Is Webster Financial publicly listed?No, Webster Financial was acquired by Santander in February 2026.
Who acquired Webster Financial?Webster Financial was acquired by Santander in February 2026.
How much was Webster Financial acquired for?Webster Financial was acquired for $12B in February 2026, a 2.8x revenue multiple.
Which companies are comparable to Webster Financial?Companies comparable to Webster Financial include Alpha Bank Group, Arab National, Chiba Bank, Shenzhen Rural Commercial Bank, Power Finance Corporation and Starling Bank.
What was Webster Financial's market cap before the acquisition?Webster Financial had a market cap of $13B in August 2026, its last month on record as a listed company, trading at 4.2x EV/Revenue.
What was Webster Financial's revenue as a public company?Webster Financial's last reported twelve-month revenue was $3B (August 2026).
How many companies has Webster Financial acquired?Webster Financial has acquired 4 companies, including Ametros, InterLINK, Bend Financial and Sterling Bancorp.
What was the largest acquisition by Webster Financial?The $10B acquisition of Sterling Bancorp in April 2021 is the largest acquisition Webster Financial has made to date.
How many companies has Webster Financial invested in?Webster Financial has invested in 3 companies, including Goalsetter, FinTron and Payrailz.
What was Webster Financial's last investment?In March 2024, Webster Financial invested in Goalsetter's $10M Series A alongside Astia, Partnership Fund for New York City, InTouch Credit Union and 5 other investors.

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