Webster Financial (WBS) to Acquire interLINK
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Webster Signs Definitive Agreement to Acquire interLINK
December 5, 2022 7:00 AM UTCSTAMFORD, Conn., Dec. 5, 2022 /PRNewswire/ -- Webster Financial Corporation (NYSE: WBS) today announced that its principal bank subsidiary Webster Bank, N.A. ("Webster") has signed a definitive agreement to acquire StoneCastle Insured Sweep, LLC (d/b/a interLINK), a subsidiary of StoneCastle Partners, LLC ("StoneCastle").
interLINK is a technology-enabled deposit management platform administering over $9 billion of deposits from FDIC-insured cash sweep programs between banks and broker/dealers and clearing firms. interLINK leverages highly scalable technology, generating significant liquidity at minimal operating... More
