Webster Bank Finances President Titanium for $4.6 Million

BOSTON, July 13 /PRNewswire-FirstCall/ -- Webster Bank, the main subsidiary of Webster Financial Corporation (NYSE: WBS), announced today that it has provided $4.6 million in financing for President Titanium of Hanson, Mass., a wholesaler and distributor of raw titanium to customers around the world. The family-owned company has been in business since 1973.

The financing package includes a $3 million line of credit and a $1.6 million term loan. President Titanium is also using Webster's cash management services. "Webster Bank has been a very good fit for us in terms of culture and philosophy," said Joseph E. MacLeod, President's founder and CEO, "They did well to craft a package for us that featured competitive rates and sensible terms, as well as establishing a relationship of mutual confidence."

"Our mission at Webster Bank is to help our customers achieve their financial goals," said Tom Brady, senior vice president, commercial banking. "President Titanium is a strong, family-owned company that has been in business for nearly 40 years. Webster is pleased to provide the financing that will help fund their growth."

About President Titanium

Established in 1973, President Titanium is a family-owned business and has become a major supplier in the titanium markets. Stocking only USA melted and manufactured products, President Titanium prides itself in service, pricing, and most of all, quality. All of the material supplied by President Titanium comes with full original mill test reports for the Aerospace, Military, and Medical Industries. President Titanium is approved by Pratt & Whitney (LCS), Boeing, Johnson & Johnson, Rolls Royce, and many more. President Titanium is ISO 9001:2000 registered.  Website: http://www.presidenttitanium.com/index.html.

About Webster

Webster Financial Corporation is the holding company for Webster Bank, National Association. With $18.0 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust and investment services through 181 banking offices, 500 ATMs, telephone banking and the Internet.  Webster Bank owns the asset-based lending firm Webster Business Credit Corporation, Webster Capital Finance, Inc., an equipment finance company headquartered in Farmington, Conn., and provides health savings account trustee and administrative services through HSA Bank, a division of Webster Bank. Member FDIC and equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.

Webster Media Contact:  Brenda F. Greene (401) 644-6707, [email protected]

SOURCE Webster Bank

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