WBS » Topics » Subsidiaries

These excerpts taken from the WBS 10-K filed Mar 2, 2009.

SUBSIDIARIES

Webster Bank, National Association, is a direct subsidiary of Webster. Webster owns all of the common stock of Webster Capital Trust IV, People’s Bancshares Capital Trust II, Eastern Wisconsin Bancshares Capital Trust II, NewMil Statutory Trust I, and Webster Statutory Trust I. Webster also owns all of the common stock of Fleming, Perry & Cox, Inc. Webster Capital Trust III, Webster Capital Trust V, Webster Capital Trust VI and Webster Capital Trust VII are also subsidiaries of Webster, however, these Delaware business trusts are inactive and uncapitalized. Webster sold Webster Insurance, Inc. as of February 1, 2008 and sold Webster Risk Services, Inc., as of June 30, 2008.

Webster Bank, N.A. has sixteen wholly-owned subsidiaries: FCB Properties, Inc., 575 Broad Street, Inc., 470-474 Frontage Road, Inc., Fuhrmann Boulevard, Inc., Bartlett Road, Inc. Farrington Place Corporation, Webster Investment Services, Inc., Webster Mortgage Investment Corporation, MyWebster Inc., Webster Community Development Corporation, Center Capital Corporation, Budget Installment Corp., Webster Business Credit Corporation, Webster Growth Capital Corporation, People’s Mortgage Corporation, and Webster Mortgage Company. Webster Bank, N.A. also directly owns all of the outstanding common stock of Webster Preferred Capital Corporation, a publicly traded real estate investment trust.

Subsidiaries

Webster’s direct subsidiaries as of December 31, 2008, included Webster Bank and Fleming, Perry & Cox, Inc. Webster also owns all of the outstanding common stock in the following unconsolidated financial vehicles that have issued or may in the future issue trust preferred securities: Webster Capital Trust III, Webster Capital Trust IV, Webster Capital Trust V, Webster Capital Trust VI, Webster Capital Trust VII, Webster Statutory Trust I, People’s Bancshares Capital Trust II, Eastern Wisconsin Bancshares Capital Trust II and NewMil Statutory Trust I.

Webster Bank’s direct subsidiaries include Webster Mortgage Investment Corporation, Webster Preferred Capital Corporation, Webster Business Credit Corporation, Budget Installment Corporation and Center Capital Corporation. Webster Bank is the primary source of retail activity within the consolidated group. Webster Bank provides banking services through 181 banking offices, 489 ATMs, telephone banking and the Internet. Residential mortgage origination activity is conducted through Webster Bank. Webster Mortgage Investment Corporation is a passive investment subsidiary whose primary function is to provide servicing on passive investments, such as residential and commercial mortgage loans transferred from Webster Bank. Webster Preferred Capital Corporation is a real estate investment trust, which holds mortgage assets, principally residential mortgage loans transferred from Webster Bank. Various commercial lending products are provided through Webster Bank and its subsidiaries to clients throughout the United States. Webster Business Credit Corporation provides asset-based lending services. Budget Installment Corporation finances insurance premiums for commercial entities, and Center Capital provides equipment financing for end users of equipment. Additionally, Webster Bank has various other subsidiaries that are not significant to the consolidated entity.

Subsidiaries

Webster’s
direct subsidiaries as of December 31, 2008, included Webster Bank and Fleming, Perry & Cox, Inc. Webster also owns all of the outstanding common stock in the following unconsolidated financial vehicles that have issued or may in the
future issue trust preferred securities: Webster Capital Trust III, Webster Capital Trust IV, Webster Capital Trust V, Webster Capital Trust VI, Webster Capital Trust VII, Webster Statutory Trust I, People’s Bancshares Capital Trust II, Eastern
Wisconsin Bancshares Capital Trust II and NewMil Statutory Trust I.

Webster Bank’s direct subsidiaries include Webster Mortgage Investment
Corporation, Webster Preferred Capital Corporation, Webster Business Credit Corporation, Budget Installment Corporation and Center Capital Corporation. Webster Bank is the primary source of retail activity within the consolidated group. Webster Bank
provides banking services through 181 banking offices, 489 ATMs, telephone banking and the Internet. Residential mortgage origination activity is conducted through Webster Bank. Webster Mortgage Investment Corporation is a passive investment
subsidiary whose primary function is to provide servicing on passive investments, such as residential and commercial mortgage loans transferred from Webster Bank. Webster Preferred Capital Corporation is a real estate investment trust, which holds
mortgage assets, principally residential mortgage loans transferred from Webster Bank. Various commercial lending products are provided through Webster Bank and its subsidiaries to clients throughout the United States. Webster Business Credit
Corporation provides asset-based lending services. Budget Installment Corporation finances insurance premiums for commercial entities, and Center Capital provides equipment financing for end users of equipment. Additionally, Webster Bank has various
other subsidiaries that are not significant to the consolidated entity.

SUBSIDIARIES

STYLE="margin-top:12px;margin-bottom:0px">Webster Bank, National Association, is a direct subsidiary of Webster. Webster owns all of the common stock of Webster Capital Trust IV, People’s Bancshares Capital
Trust II, Eastern Wisconsin Bancshares Capital Trust II, NewMil Statutory Trust I, and Webster Statutory Trust I. Webster also owns all of the common stock of Fleming, Perry & Cox, Inc. Webster Capital Trust III, Webster Capital Trust V,
Webster Capital Trust VI and Webster Capital Trust VII are also subsidiaries of Webster, however, these Delaware business trusts are inactive and uncapitalized. Webster sold Webster Insurance, Inc. as of February 1, 2008 and sold Webster Risk
Services, Inc., as of June 30, 2008.

Webster Bank, N.A. has sixteen wholly-owned subsidiaries: FCB Properties, Inc., 575 Broad Street, Inc., 470-474
Frontage Road, Inc., Fuhrmann Boulevard, Inc., Bartlett Road, Inc. Farrington Place Corporation, Webster Investment Services, Inc., Webster Mortgage Investment Corporation, MyWebster Inc., Webster Community Development Corporation, Center Capital
Corporation, Budget Installment Corp., Webster Business Credit Corporation, Webster Growth Capital Corporation, People’s Mortgage Corporation, and Webster Mortgage Company. Webster Bank, N.A. also directly owns all of the outstanding common
stock of Webster Preferred Capital Corporation, a publicly traded real estate investment trust.

These excerpts taken from the WBS 10-K filed Feb 28, 2008.

SUBSIDIARIES

Webster Bank, National Association, is a direct subsidiary of Webster. Webster owns all of the common stock of Webster Capital Trust IV, People’s Bancshares Capital Trust II, Eastern Wisconsin Bancshares Capital Trust II, NewMil Statutory Trust I, and Webster Statutory Trust I. Webster also owns all of the common stock of Webster Risk Services, Inc., and Fleming, Perry & Cox, Inc. Webster Capital Trust III, Webster Capital Trust V, and Webster Capital Trust VI are also subsidiaries of Webster, however, these Delaware business trusts are inactive and uncapitalized. Webster announced a transaction in which it sold Webster Insurance, Inc. as of February 1, 2008 while retaining Webster Risk Services, Inc., its third party administrator insurance-related business. As a result of the transaction, Webster Risk Services, Inc. became a wholly owned subsidiary of Webster. Webster Risk Services, Inc. has one subsidiary: Webster Risk Services of New York, Inc.

Webster Bank, N.A. has fifteen wholly-owned subsidiaries: FCB Properties, Inc., 575 Broad Street, Inc., 470-474 Frontage Road, Inc., Fuhrmann Boulevard, Inc., Farrington Place Corporation, Webster Investment Services, Inc., Webster Mortgage Investment Corporation, MyWebster Inc., Webster Community Development Corporation, Center Capital Corporation, Budget Installment Corp., Webster Business Credit Corporation, Webster Growth Capital Corporation, People’s Mortgage Corporation, and Webster Mortgage Company. Webster Bank, N.A. also directly owns all of the outstanding common stock of Webster Preferred Capital Corporation, a publicly traded real estate investment trust.

Subsidiaries

Webster’s direct subsidiaries as of December 31, 2007, included Webster Bank, Webster Insurance and Fleming, Perry & Cox, Inc. Webster also owns all of the outstanding common stock in the following unconsolidated financial vehicles that have issued trust preferred securities: Webster Capital Trust IV, Webster Statutory Trust I, People’s Bancshares Capital Trust II, Eastern Wisconsin Bancshares Capital Trust II and NewMil Statutory Trust I. See Note 13 of Notes to Consolidated Financial Statements for additional information.

Webster Bank’s direct subsidiaries include Webster Mortgage Investment Corporation, Webster Preferred Capital Corporation, Webster Business Credit Corporation, Budget Installment Corporation and Center Capital Corporation. Webster Bank is the primary source of retail activity within the consolidated group. Webster Bank provides banking services through 181 banking offices, 343 ATMs and the Internet. Residential mortgage origination activity is conducted through Webster Bank. Webster Mortgage Investment Corporation is a passive investment subsidiary whose primary function is to provide servicing on passive investments, such as residential and commercial mortgage loans transferred from Webster Bank. Webster Preferred Capital Corporation is a real estate investment trust, which holds mortgage assets, principally residential mortgage loans transferred from Webster Bank. Various commercial lending products are provided through Webster Bank and its subsidiaries to clients throughout the United States. Webster Business Credit Corporation provides asset-based lending services. Budget Installment Corporation finances insurance premiums for commercial entities, and Center Capital provides equipment financing for end users of equipment. Additionally, Webster Bank has various other subsidiaries that are not significant to the consolidated entity.

SUBSIDIARIES

STYLE="margin-top:12px;margin-bottom:0px">Webster Bank, National Association, is a direct subsidiary of Webster. Webster owns all of the common stock of Webster Capital Trust IV, People’s Bancshares Capital
Trust II, Eastern Wisconsin Bancshares Capital Trust II, NewMil Statutory Trust I, and Webster Statutory Trust I. Webster also owns all of the common stock of Webster Risk Services, Inc., and Fleming, Perry & Cox, Inc. Webster Capital Trust
III, Webster Capital Trust V, and Webster Capital Trust VI are also subsidiaries of Webster, however, these Delaware business trusts are inactive and uncapitalized. Webster announced a transaction in which it sold Webster Insurance, Inc. as of
February 1, 2008 while retaining Webster Risk Services, Inc., its third party administrator insurance-related business. As a result of the transaction, Webster Risk Services, Inc. became a wholly owned subsidiary of Webster. Webster Risk
Services, Inc. has one subsidiary: Webster Risk Services of New York, Inc.

Webster Bank, N.A. has fifteen wholly-owned subsidiaries: FCB Properties, Inc.,
575 Broad Street, Inc., 470-474 Frontage Road, Inc., Fuhrmann Boulevard, Inc., Farrington Place Corporation, Webster Investment Services, Inc., Webster Mortgage Investment Corporation, MyWebster Inc., Webster Community Development Corporation,
Center Capital Corporation, Budget Installment Corp., Webster Business Credit Corporation, Webster Growth Capital Corporation, People’s Mortgage Corporation, and Webster Mortgage Company. Webster Bank, N.A. also directly owns all of the
outstanding common stock of Webster Preferred Capital Corporation, a publicly traded real estate investment trust.

These excerpts taken from the WBS 10-K filed Feb 27, 2007.
SUBSIDIARIES
 
Webster Bank, National Association, is a direct subsidiary of Webster. Webster owns all of the common stock of Webster Capital Trust I, Webster Capital Trust II, People’s Bancshares Capital Trust II, Eastern Wisconsin Bancshares Capital Trust I, Eastern Wisconsin Bancshares Capital Trust II, FAB Funding Corporation, NewMil Statutory Trust I, and Webster Statutory Trust I. Webster also owns all of the common stock of Webster Insurance, Inc., Fleming, Perry & Cox, Inc., and FIRSTFED Insurance Agency, LLC. Webster Capital Trust III, Webster Capital Trust IV, Webster Capital Trust V, and Webster Capital Trust VI are also subsidiaries of Webster, however, these Delaware business trusts are inactive and uncapitalized. Webster has announced its intention to redeem certain trust preferred securities issued by several of its financing subsidiaries, including Webster Capital Trust I and Webster Capital Trust II. Webster expects to commence the formal redemption process in the first quarter of 2007 and to dissolve the relevant subsidiaries following the redemption of the securities issued by each such entity.
 
Webster Bank, N.A. has seventeen wholly-owned subsidiaries: FCB Properties, Inc., 575 Broad Street, Inc., 470-474 Frontage Road, Inc., Farrington Place Corporation, Webster Investment Services, Inc., Webster Mortgage Investment Corporation, MyWebster Inc., Webster Community Development Corporation, Center Capital Corporation, Budget Installment Corp., Webster Business Credit Corporation, Webster Growth Capital Corporation, People’s Mortgage Corporation, NewMil Asset Company, NewMil Mortgage Company, and Asset Recovery Management Company. Webster Bank, N.A. also directly owns all of the outstanding common stock of Webster Preferred Capital Corporation, a publicly traded real estate investment trust. Webster Insurance, Inc. has two subsidiaries: LLIA, Inc., and Webster Risk Services, Inc. LLIA, Inc. has one subsidiary: Louis Levine Agency, Inc. Webster Risk Services, Inc. has one subsidiary: Webster Risk Services of New York, Inc.
 
WEBSTER SUBSIDIARIES
 
         
        Names Under Which
Name of Subsidiary
  Jurisdiction of Organization   Subsidiary Does Business
 
Webster Bank, N.A. 
  United States   Same
Webster Capital Trust I
  Delaware   Same
Webster Capital Trust II
  Delaware   Same
Webster Capital Trust III
  Delaware   Same
Webster Capital Trust IV
  Delaware   Same
Webster Capital Trust V
  Delaware   Same
Webster Capital Trust VI
  Delaware   Same
Webster Statutory Trust I
  Connecticut   Same
People’s Bancshares Capital Trust II
  New York   Same
Eastern Wisconsin Bancshares Capital Trust I
  Delaware   Same
Eastern Wisconsin Bancshares Capital Trust II
  Delaware   Same
Webster Insurance, Inc. 
  Connecticut   Same
FIRSTFED Insurance Agency, LLC
  Massachusetts   Same
FAB Funding Corporation
  Massachusetts   Same
Fleming, Perry & Cox, Inc. 
  Connecticut   Same
NewMil Statutory Trust I
  Connecticut   Same


114

Subsidiaries
 
Webster’s direct subsidiaries include Webster Bank, Webster Insurance and Fleming, Perry & Cox, Inc. Webster also owns all of the outstanding common stock in the following unconsolidated financial vehicles that have issued trust preferred securities: Webster Capital Trust I and II, Webster Statutory Trust I, People’s Bancshares Capital Trust II, Eastern Wisconsin Bancshares Capital Trust I and II and NewMil Statutory Trust I. See Note 14 of Notes to Consolidated Financial Statements for additional information.
 
The following is a brief description of Webster Bank and its principal direct and indirect subsidiaries.


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Table of Contents

Retail Banking
 
Webster Bank is the primary source of retail activity within the consolidated group. Webster Bank provides banking services through 177 banking offices, 334 ATMs and the Internet. Insurance activities are conducted through Webster Insurance. Residential mortgage origination activity is conducted through both Webster Bank and People’s Mortgage Corporation.
 
Commercial Lending
 
Webster provides various commercial lending products through subsidiaries of Webster Bank to clients throughout the United States. Webster Business Credit Corporation provides asset-based lending services, Budget Installment Corporation finances insurance premiums for commercial entities, and Center Capital provides equipment financing.
 
Investment Planning and Securities Brokerage Activities
 
Brokerage and investment products are offered by Webster Investment Services, which is also a registered investment advisor. Fleming, Perry & Cox, Inc., a subsidiary of Webster, provides financial planning services for high net worth individuals.
 
Other Subsidiaries
 
Webster Mortgage Investment Corporation is a passive investment subsidiary whose primary function is to provide servicing on passive investments, such as residential and commercial mortgage loans transferred from Webster Bank. Webster Preferred Capital Corporation is a real estate investment trust, which holds mortgage assets, principally residential mortgage loans transferred from Webster Bank. Additionally, Webster Bank has various other subsidiaries that are not significant to the consolidated entity.
 
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