Webster Bank, National Association

For information concerning Brio Direct, a division of Webster Bank online bank, please click here.

Webster Bank, National Association is an FDIC insured institution headquartered at 1959 Summer St, Stamford, CT 6905.
It was founded in 1870 and has approximately $67 billion in assets. Customers can open an account at one of its 184 branches.

Deposit Rates - March 25, 2023

SAVINGS RATES APY MIN
CD RATES APY MIN
6 Mo CD
0.10% $10,000 Compare
6 Mo CD
0.10% $100,000 Compare
MM RATES APY MIN
Money Market
0.01% $2,500 Compare
Money Market
0.02% $10,000 Compare
Money Market
0.02% $25,000 Compare
FIXED IRA RATES APY MIN
Fixed IRA
0.20% $1
INT CHECKING RATES APY MIN
Int Ckg
0.01% $2,500

Overview 2023

General Bank Information

FDIC Insured Yes
FDIC Certificate # 18221
Date Established 1870
Assets $ 67.47 billion
Loans $ 47.25 billion
Deposits $ 54.32 billion
Capital $ 8.35 billion

Summary Balance Sheet

ASSETS
Cash & Balances due from depository institutions $ 611.59 million
Interest-bearing balances $ 455.28 million
Total securities $ 14.59 billion
Federal funds sold and reverse repurchase $ 0.38 million
Net loans and leases $ 47.25 billion
Loan loss allowance $ 574.33 million
Trading account assets $ 16.61 million
Bank premises and fixed assets N.A.
Other real estate owned $ 2.11 million
Goodwill and other intangibles $ 2.69 billion
All other assets $ 3.15 billion
     Total Assets $ 60.60 billion

LIABILITIES
Total deposits $ 54.32 billion
      Interest-bearing deposits $ 40.37 billion
      Deposits held in domestic offices $ 54.27 billion
      % insured (estimated) 59.97%
Federal funds purchased and repurchase agreements $ 1,265.41 million
Trading liabilities $ 409.90 million
Other borrowed funds $ 2.66 billion
Subordinated debt N.A.
All other liabilities $ 974.09 millionn
      Total Liabilities $ 60.60 billion
      Shareholders’ Equity $ 6.87 billion

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $ 1,553.90 million
Total Interest Expense $ 87.94 million
Net interest income $ 1,465.96 million
Provision for loan and lease losses $ 237.62 million
Total non interest income $ 325.67 million
Total non interest expense $ 993.94 million
Pre-tax Net Operating Income $ 250.30 million

Customer Reviews for Webster Bank, National Association (8)

Rated 1.38 stars out of 5 - based on 8 reviews
  • Provides a level of service and nonsense which would never be acceptable from a brick-and-mortar bank so it doesn't work for an online bank either.

  • One to avoid the entire way around.

  • I moved all my money out as saving rates are for new customers only. Website is terrible,

  • First the good: CSR is immediate and the young ladies who answer the phone are incredibly nice. Then the bad: Just about everything else- changing rates only for new customers, 6 day transfer delays (easily defeated through external transfers, but why?), website that looks like a 1st graders project, etc. I love the rate, even though they are not always competitive, but I've decided that I cannot trust my money to them. (and I can beat these rates in US Treasuries anyway).

  • I've been an account holder since the spring. I went through the period where they changed the name and only gave the new rate to new customers or those opening a new account. I only caught it because of ratesandinfo and would have been still earning 2.15% had it not been for this site (I imagine many are still only catching it now). I had to call once for some info or something and CSR was helpful. So that is all fine. What really gets me though is the transfer delays and the crappy website. With this, I have this alternating feeling that I have either dealing with some well-intentioned jokers in a back room in Queens or some con artists in downtown Brooklyn. I don't really want to stick around to find out for an extra 0.15%.

  • Do not open an account with this bank. They are still charging exorbitant fees for more than 6 withdrawals per statement cycle, even though those rules have been suspended by the US treasury. Brio's cycle is from the 15th of the month. Everything counts, including trial deposits. Got me for $60 and then when I called and complained they offered to split the difference. Find a different online bank!

  • Hello! I opened an account at this bank a few months ago when it was the best rate around. I was pissed when they raised rates for new customers and left me at 2.15% but that was corrected with a call. Then yesterday, we were speaking about these online accounts in the office and my cubicle-mate told me that Brio Direct used to be called Sterling National. Sterling National is the bank that ripped off cab drivers and convinced them to pay $1 1/2 million for medallions in New York, Chicago and maybe some other cities. The entire thing was a scam that left these poor folks indebted to the bank for the last 7-8 years, until the City of New York (us, the taxpayers) came to bail everyone out earlier this year. Needless to say, I am closing my account. The moral of my story is know who you are facilitating and what kind of awful behavior they are engaged in. I won't bank with Chase and Citi and Goldman Sachs due to their oil and gas lending but now I can add these guys to list.

  • Hold time are just outrageous. I don't know where it ends. Been on hold for hours. In fact, I am still on hold and it is the middle of the day!


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Branches

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Webster Bank, National Association Locations

Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    LOCAL CD
    Bank
    CONNECTICUT
    $50,000
    6 Month
    0.10%
    0.35x (National Avg. - 0.29%)
    $10,000
    -
    SCENARIO
    Year Rate
    0.10%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 50 35
    2 50,050 50 35
    3 50,100 50 35
    4 50,150 50 35
    5 50,200 50 35
    6 50,251 50 35
    7 50,301 50 35
    8 50,351 50 35
    9 50,401 50 35
    10 50,452 50 35
    11 50,502 51 35
    12 50,553 51 35
    13 50,603 51 35
    14 50,654 51 35
    15 50,705 51 35
    16 50,755 51 36
    17 50,806 51 36
    18 50,857 51 36
    19 50,908 51 36
    20 50,959 51 36
    TOTAL $1,010 $707
  • 2
    LOCAL CD
    Online Bank
    -
    $50,000
    60 Month
    4.10%
    5.06x (National Avg. - 0.81%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.10%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,050 1,435
    2 52,050 2,134 1,494
    3 54,184 2,222 1,555
    4 56,406 2,313 1,619
    5 58,718 2,407 1,685
    6 61,126 2,506 1,754
    7 63,632 2,609 1,826
    8 66,241 2,716 1,901
    9 68,957 2,827 1,979
    10 71,784 2,943 2,060
    11 74,727 3,064 2,145
    12 77,791 3,189 2,233
    13 80,980 3,320 2,324
    14 84,300 3,456 2,419
    15 87,757 3,598 2,519
    16 91,355 3,746 2,622
    17 95,100 3,899 2,729
    18 98,999 4,059 2,841
    19 103,058 4,225 2,958
    20 107,284 4,399 3,079
    TOTAL $61,682 $43,178
  • 3
    LOCAL CD
    Online Bank
    -
    $50,000
    24 Month
    4.30%
    7.76x (National Avg. - 0.55%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.30%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,150 1,505
    2 52,150 2,242 1,570
    3 54,392 2,339 1,637
    4 56,731 2,439 1,708
    5 59,171 2,544 1,781
    6 61,715 2,654 1,858
    7 64,369 2,768 1,938
    8 67,137 2,887 2,021
    9 70,024 3,011 2,108
    10 73,035 3,140 2,198
    11 76,175 3,276 2,293
    12 79,451 3,416 2,391
    13 82,867 3,563 2,494
    14 86,430 3,717 2,602
    15 90,147 3,876 2,713
    16 94,023 4,043 2,830
    17 98,066 4,217 2,952
    18 102,283 4,398 3,079
    19 106,681 4,587 3,211
    20 111,268 4,785 3,349
    TOTAL $66,053 $46,237
  • 4
    LOCAL CD
    Online Bank
    -
    $50,000
    12 Month
    4.50%
    10.25x (National Avg. - 0.44%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.50%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,250 1,575
    2 52,250 2,351 1,646
    3 54,601 2,457 1,720
    4 57,058 2,568 1,797
    5 59,626 2,683 1,878
    6 62,309 2,804 1,963
    7 65,113 2,930 2,051
    8 68,043 3,062 2,143
    9 71,105 3,200 2,240
    10 74,305 3,344 2,341
    11 77,648 3,494 2,446
    12 81,143 3,651 2,556
    13 84,794 3,816 2,671
    14 88,610 3,987 2,791
    15 92,597 4,167 2,917
    16 96,764 4,354 3,048
    17 101,119 4,550 3,185
    18 105,669 4,755 3,329
    19 110,424 4,969 3,478
    20 115,393 5,193 3,635
    TOTAL $70,586 $49,410