Webster Financial Corporation filed a Form 8-K on August 5, 2026, disclosing that the Board of Governors of the Federal Reserve System approved Banco Santander's application to acquire the company, with closing expected on August 20, 2026.

Key Highlights

  • Federal Reserve approval: The Board of Governors of the Federal Reserve System approved the Transaction on August 4, 2026, according to the filing.
  • Application date: Banco Santander, S.A. and Santander Holdings USA, Inc. submitted their acquisition application to the Federal Reserve on March 28, 2026.
  • Expected closing: The filing states the Transaction is expected to close on August 20, 2026.
  • Scope of Transaction: The acquisition covers Webster Financial Corporation and its non-banking subsidiaries, per the filing.
  • Joint announcement: Banco Santander and Webster Financial issued a joint press release, attached as Exhibit 99.1, dated August 4, 2026.
  • Securities listed: Webster Financial's common stock (WBS), Series F preferred depositary shares (WBS-PrF), and Series G preferred depositary shares (WBS-PrG) are all registered on the New York Stock Exchange.

Federal Reserve Clears Banco Santander's Bid for Webster Financial Corporation

Webster Financial Corporation (NYSE: WBS), headquartered at 200 Elm Street, Stamford, Connecticut, reported under Item 8.01 (Other Events) that the Board of Governors of the Federal Reserve System formally approved the proposed acquisition on August 4, 2026. The acquisition involves Banco Santander, S.A. and its U.S. holding company, Santander Holdings USA, Inc., seeking to acquire Webster Financial and its non-banking subsidiaries.

According to the filing, the regulatory process began on March 28, 2026, when Banco Santander and Santander Holdings USA, Inc. submitted their application to the Federal Reserve. With that approval now granted, the filing states that the Transaction's closing is expected to occur on August 20, 2026. The joint press release announcing the Federal Reserve's decision was incorporated into the filing as Exhibit 99.1.

The filing contains forward-looking statements, which the company notes are subject to its cautionary language. The filing identifies a range of risk factors that could cause actual results to differ from those anticipated, including the possibility that "the Transaction does not close when expected or at all because the remaining conditions to closing are not received or satisfied on a timely basis or at all," and risks related to integration, costs, and disruption to the parties' businesses during the pendency of the Transaction.

What Was Disclosed

Webster Financial disclosed via an 8-K that the Federal Reserve approved Banco Santander's application to acquire the company and its non-banking subsidiaries, with the Transaction's closing expected on August 20, 2026, following an application submitted March 28, 2026.