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Webster Financial, Sterling Bancorp Issue Update On Merger - Quick Facts

Webster Financial Corp. (WBS) and Sterling Bancorp (STL) said Webster has received regulatory approval from the Board of Governors of the Federal Reserve System to complete the previously announced merger. All required regulatory approvals to complete the merger have now been received. The closing of the merger is anticipated to occur on or around February 1, 2022.

Upon closing, the combined company will have approximately $65.5 billion in assets, $42 billion in loans, and $54 billion in deposit balances based on balances as of September 30, 2021.

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