Add-on Acquisition • Financial Services

Webster Bank Acquires NewMil Bancorp

On August 25, 2006, Webster Bank acquired financial services company NewMil Bancorp for 173M USD

Acquisition Context
  • This is Webster Bank’s 1st transaction in the Financial Services sector.
  • This is Webster Bank’s 2nd largest (disclosed) transaction.
  • This is Webster Bank’s 1st transaction in the United States.
  • This is Webster Bank’s 1st transaction in Connecticut.

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M&A Deal Summary

Date August 25, 2006
Target NewMil Bancorp
Sector Financial Services
Buyer(s) Webster Bank
Deal Type Add-on Acquisition
Deal Value 173M USD

Target Company

NewMil Bancorp

New Milford, Connecticut, United States
NewMil Bancorp is the holding company for NewMil Bank, a state-chartered savings bank with branches in Connecticut.
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Buyer Overview 1

Buyer

Webster Bank

Stamford, Connecticut, United States

Category Company
Founded 1935
Sector Financial Services
Employees4,297
Revenue 2.6B USD (2024)
DESCRIPTION

Webster Bank is a bank holding company for Webster Bank. Webster provides consumer and business banking, mortgage, financial planning, and trust and investment services. Webster Bank was founded in 1935 and is based in Waterbury, Connecticut.


Deal Context for Buyer #
Overall 1 of 4
Sector: Financial Services 1 of 2
Type: Add-on Acquisition 1 of 3
State: Connecticut 1 of 1
Country: United States 1 of 4
Year: 2006 1 of 1
Size (of disclosed) 2 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-01 Webster Insurance

Meriden, Connecticut, United States

Webster Insurance is one of the middle-market insurance brokerage firms in New England with offices in Connecticut, Massachusetts and Rhode Island. Webster Insurance specializes in commercial property & casualty and employee benefits insurance for middle-market companies and personal lines insurance for individuals throughout the New England region.

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