Webster Bank Earns 'Outstanding' Rating from Federal Regulator
The OCC previously rated Webster as "Outstanding" in 2018; this is the second time the Bank has received the highest rating on its evaluation. See the full rating list here.
In addition, Webster achieved individual "Outstanding" ratings in each of the three specific test categories: lending, investment and community development service to low- and moderate-income (LMI) communities in
"We are proud to have once again received an Outstanding rating from the OCC for the work our Webster bankers do every day to serve low- and moderate-income communities throughout our footprint," said Chairman, President and CEO
Specifically, the OCC acknowledged
- Excellent overall lending activity in all rating areas, reflecting responsiveness and penetration given the highly competitive markets
- Very good distribution of home mortgage lending to customers of varied income levels and businesses of all sizes
Webster Bankoriginated a significant number of loans using innovative and flexible lending products, mainly through government programs, for consumers and small businesses
- Overall outstanding performance in community development investments and grants that were responsive to affordable housing needs, and demonstrated good responsiveness to credit and community economic development
The OCC evaluates banks' performance in helping customers, businesses and local communities meet their credit needs, which include LMI individuals, LMI neighborhoods, and small businesses, consistent with safe and sound operation and banking practices.
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