Banco Santander and Webster Financial said they have cleared the final major regulatory hurdle for Santander’s acquisition of Webster after receiving approval from the Federal Reserve Board. The approval follows the Office of the Comptroller of the Currency’s sign-off on June 12 and the European Central Bank’s authorization on July 21. The deal is now expected to close on August 20.
Santander said the transaction is expected to strengthen its U.S. franchise and help it reach a return on tangible equity of about 18% in its U.S. business by 2028. The company also said the deal is expected to generate 7% to 8% earnings per share accretion and an estimated 15% return on invested capital by 2028.
Once the acquisition closes, most of Webster’s businesses will move under Santander Bank, N.A., Santander’s U.S. banking arm. Until then, the two companies will continue to operate separately.
Santander also pointed to its scale in the U.S. and globally. As of June 30, 2026, the bank reported €1.5 trillion in total funds, more than 182 million customers, 6,500 branches and 185,000 employees.
Webster said it has more than $80 billion in total assets and operates across commercial banking, healthcare financial services and consumer banking, with a footprint centered in the Northeast from the New York metropolitan area through Rhode Island and Massachusetts. As a result of these announcements, the company's shares have moved 1.44% on the market, and are now trading at a price of $79.075. For more information, read the company's full 8-K submission here.
