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US Fed approves Santander’s planned $12.2bn purchase of Webster
Santander expects the combined Webster and Santander US business to add about 7% to 8% to earnings per share and reach roughly 18% return on tangible equity by 2028.
Banco Santander has received approval from the US Federal Reserve Board of Governors for its planned purchase of Webster, the parent company of Webster Bank in the United States, Yahoo Finance reported.
Santander said the combined business is expected to total about $327 billion in assets based on end-2025 figures, with loans of $185 billion and deposits of $172 billion. The deal follows consent from the US Office of the Comptroller of the Currency in June 2026 and approval from the European Central Bank in July 2026.
Santander said it expects the acquisition to strengthen its US operations and help it meet financial targets. After integration, it projects a return on tangible equity of about 18% by 2028 and an estimated 7% to 8% increase in earnings per share, alongside about a 15% return on invested capital by 2028.
Completion is scheduled for 20 August 2026, according to the report. After closing, most Webster operations will be absorbed into Santander Bank, N.A., and customers are not required to take any action, with existing accounts and services remaining unchanged for now.