Santander Bank To Acquire Webster Bank For $12.2 Billion

Santander Bank has entered into an agreement to purchase Webster Bank in a deal worth $12.2 billion.

• Santander has traditionally operated in NH, FL, MA, RI, CT, DE, NY, NJ, and PA
• Webster Bank has traditionally operated in NY, MA, RI, and CT

So there are no new markets for Santander as part of this deal. Readers of this site might have participated in bank bonuses from both banks in the past. If you’ve held or currently hold a Webster bank account it could make sense to complete the Santander bank bonuses as the terms of those accounts state ‘Offer is not available if any account owner is a current checking customer of Santander or had a Santander checking account in the last 12 months prior to account opening’ and it’s possible they will consider Webster accounts as Santander at some point in the future. Acquisitions are certainly picking up in this space.