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Webster Bank Names Massiani President - Banker & Tradesman

Webster Bank Names Massiani President - Banker & Tradesman
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After mergers, M&T Bank, Webster Bank report higher profits

The two banks involved in the largest mergers in Connecticut over the last year have reported higher profits following their deals.

Stamford-based Webster Financial Corp., parent of Webster Bank, said Thursday its third quarter profits soared to $233.9 million, or $1.31 per diluted share, compared to $95.7 million, or $1.03 per share, in the year-ago period.

Those earnings topped Wall Street expectations, according to the Associated Press. ....

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Startup commercial bank — CT's first in over a decade — gets preliminary approval

Connecticut is a step closer to getting its first startup commercial bank in over a decade.

The state Department of Banking on Thursday granted a temporary certificate of authority to the founders of New Canaan Bank, who are working to launch a new commercial bank in Fairfield County. ....

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Former bankers, others look to launch new CT community bank

Organizers are trying to launch a new commercial bank in Fairfield County, a move being driven by the significant consolidation wave in the banking industry, officials said.

If successful, the New Canaan Bank would be the first startup commercial bank in Connecticut in over a decade, when Start Community Bank launched in New Haven in 2010. (Start changed its name to New Haven Bank in 2019.)

Organizers of New Canaan Bank include former bank and investment executives, a real estate developer and doctor, among others. ....

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