Santander has completed its acquisition of Webster Financial Corporation, significantly expanding its U.S. retail and commercial banking operations and creating a combined organization with approximately $327 billion in assets.
The transaction was initially announced in February 2026 and closed after receiving required shareholder and regulatory approvals.
The combined U.S. organization serves nearly eight million customers nationally and operates across Santander’s retail, commercial, auto, wealth, and corporate and investment banking businesses.
Based on year-end 2025 balances, the combined company has approximately $327 billion in assets, $185 billion in loans and $172 billion in deposits.
Webster adds a relationship-driven deposit base, commercial banking capabilities and a Healthcare Financial Services business.
Santander expects the acquisition to support its goal of achieving approximately 18% return on tangible equity in the U.S. by 2028.
Most Webster businesses have become part of Santander Bank.
Christiana Riley remains Santander’s U.S. country head and CEO of Santander US. Former Webster Bank CEO John Ciulla becomes CEO of Santander Bank, while former Webster President and COO Luis Massiani becomes COO of Santander US and Santander Bank.
Webster’s former Stamford, Connecticut headquarters will serve as another Santander U.S. corporate hub alongside Boston, New York, Miami and Dallas.
KEY QUOTES:
“This is a pivotal moment in Santander’s long journey in the United States that underscores our confidence in the strength and opportunity in the U.S. market. By bringing together Santander and Webster, we are combining two organizations with shared values and strong customer relationships. Our five growing businesses will now serve nearly eight million customers across the U.S., with expanded reach and resources to better support their needs and the communities we serve.”
Christiana Riley, CEO Of Santander US
“Today marks the beginning of an exciting next chapter for our customers and communities. This combination allows us to further deepen our local relationships with the support of Santander’s global scale, financial strength, and investment capabilities. Together we are enhancing our ability to deliver broader products and services, and remain committed to the trusted partnerships that have always been at the center of how we serve our customers.”
John Ciulla, CEO Of Santander Bank
