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Why is this merger happening?

With approximately $63 billion in combined assets, $52 billion in deposits, and $42 billion in loans, our new organization will provide the scale to deliver best-in-class financial performance and drive value for our clients, communities, colleagues and shareholders. Through diversification and scale, we will unlock opportunities in our commercial and consumer banking businesses by growing relationships with existing clients and enhancing operating leverage. These opportunities are particularly strong in our diversified commercial lending verticals. In the HSA Bank, which is a distinctive and successful part of Webster’s history that we will expand, and in consumer and direct banking, we will accelerate our investments into new technologies and capabilities.

The combined company will have a contiguous footprint spanning the Northeast area from New York City, Northern New Jersey and Eastern Long Island up to Boston with a meaningful presence in key Northeast metropolitan areas including Greater New York, New Haven, Hartford, and Boston.

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