Webster Bank

Report Card
A
Overall Grade
A-
Mortgages Grade
C+
Bank Account Services Grade
Webster Bank is rated overall in the top 96 percentile (out of 100) based on 119 customer complaints.

Statistics

Complaints Currently In-Progress
Complaints per $100K of Deposits7.5
Complaints Resolved in a Timely Manner99.2%
Resolutions Disputed by Customer18.5%
Average Time Until ResolutionUnknown

Financial Report

Owner CorporationWebster Financial Corporation
EstablishedJanuary, 1870
FDIC InsuredJuly, 1960
FDIC Certificate #018221
Number of Branches167 (1 International)
Total Assets$21.8 Million (47th)
Total Deposits$15.8 Million (46th)
Total Equity$2.2 Million (53rd)
Quartarly Net Income$52.1 Thousand (48th)

Contact Information

Corporate Headquarters
Webster Plaza
Waterbury, CT 6702
United Statesflag
Website
http://www.websteronline.com
Data Summary
Webster Bank logo

Grade Summary

Overall, Webster Bank received a grade of "A" based on how quickly the company responded to complaints, how often customers disputed their final resolution, and how many complaints were recieved per customer.

Grades are also broken down by the financial products offered be each institution. Webster Bank is rated "A-" in Mortgages, and "C+" in Bank Account Services. Click on any of the financial products to see how Webster Bank compares.

Overview

Webster Bank has received 119 consumer complaints since February, 2012 – more than 93% of other banks.

Of those complaints, 99.2% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Webster Bank meets the 60-day response deadline more frequently than 55% of other banks.

After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 18.5% of customers dispute Webster Bank's response to complaints — better than 50.1% of other companies.

Most of Webster Bank's customers complain about bank account or services with the primary issue being "account opening, closing, or management."

Webster Bank is primarily a commercial bank with a commercial lending specialization. Webster Bank is based in Waterbury, Connecticut and is the 47th largest FDIC insured bank in America.

Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.

However, even after adjusting for bank size and number of customers, Webster Bank receives far more complaints than most other banks. Webster Bank recieves more complaints per customer than 97% of other banks – customers are significantly more likely to file complaints than customers of most other banks.

Corporate Headquarters
Complaints by Product
Complaints by State
Complaints Against Webster Bank
#Financial ProductSub-ProductComplaint IssueComplaint Count
1Bank account or serviceChecking accountAccount opening, closing, or management24
2Bank account or serviceChecking accountDeposits and withdrawals22
3Bank account or serviceChecking accountProblems caused by my funds being low18
4Bank account or serviceOther bank product/serviceAccount opening, closing, or management13
5Bank account or serviceSavings accountAccount opening, closing, or management10
6MortgageOther mortgageLoan modification,collection,foreclosure9
7MortgageConventional fixed mortgageLoan servicing, payments, escrow account8
8MortgageOther mortgageLoan servicing, payments, escrow account4
9Bank account or serviceChecking accountMaking/receiving payments, sending money4
10Bank account or serviceSavings accountDeposits and withdrawals3
Responses From Webster Bank
#Company ResponseResponse CountTimely Response CountDisputed Count
1Closed with explanation105104 (99%)25 (23.8%)
2Closed with monetary relief3131 (100%)2 (6.5%)
3Closed without relief88 (100%)2 (25%)
4Closed with relief33 (100%)0 (0%)
5Closed with non-monetary relief22 (100%)0 (0%)
6In progress11 (100%)0 (0%)
Complaints over the Past Year