The US Federal Reserve has approved Banco Santander's $12.2 billion acquisition of Webster, parent company of Webster Bank. The combined entity is expected to hold roughly $327 billion in assets, with loans of $185 billion and deposits of $172 billion, based on end-2025 figures. The deal, first announced in February, has already received consent from the Office of the Comptroller of the Currency in June 2026 and the European Central Bank in July 2026. Completion is scheduled for 20 August 2026, after which most Webster operations will be absorbed into Santander Bank, N.A. Santander expects the acquisition to strengthen its US operations, targeting a return on tangible equity of about 18% by 2028, an earnings per share boost of 7–8%, and a 15% return on invested capital by 2028.
Banco Santander S.A.Fed approval clears the $12.2bn acquisition of Webster, expected to boost EPS and returns.
