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Webster Banker Named Chairperson of Housing Development Fund

WATERBURY, Conn., March 22, 2012 – Webster Bank is pleased to congratulate Robin Gallagher, senior vice president commercial real estate lending, on being elected Board Chair of the Housing Development Fund (HDF).  Robin, who has been a Webster Banker since 2005, has been affiliated with HDF for 14 years, serving on the board for the last 10.

HDF has offices in Stamford, Bridgeport, and Danbury, Connecticut as well as Westchester County, NY.  It was established in 1989 as a nonprofit organization to finance the development of affordable housing.  Since then, it has grown to a loan fund with more than $89 million for the pre-development, acquisition, rehabilitation and construction of affordable housing.  It also provides down payment and closing cost assistance to low and moderate income families.  Almost 1,000 homes have been built with HDF financing--- including facilities for seniors, special needs, and supportive housing.  HDF has helped more than 1,400 individuals and families achieve the American Dream of purchasing a home and its Foreclosure Intervention Counseling Program has helped more than 900 troubled homeowners stay in their homes.

“Webster bankers give of themselves in the communities they serve across our footprint from Westchester County, N.Y. to Boston, Mass., and Robin’s commitment to the Housing Development Fund is an excellent example of this,” said William E. Wrang III, senior vice president and director commercial real estate.  “Robin’s leadership, energy, and dedication exemplify Webster’s commitment to community which is a tradition since the bank was founded in 1935.”

“We are fortunate enough to have in Robin a person who is as dedicated to our mission as we are and is deeply familiar with us.  She has already performed key roles with our organization including chairing the multi-family loan committee and chairing the development committee.  So, we are feeling very excited to have her in the top leadership position,” Joan Carty, President and CEO of HDF.

For more information on the Housing Development Fund:  www.hdf-ct.org.

About Webster

Webster Financial Corporation is the holding company for Webster Bank, National Association. With $19 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust and investment services through 168 banking offices, 473 ATMs, telephone banking, mobile banking, and the Internet. Webster Bank owns the asset based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and provides health savings account trustee and administrative services through HSA Bank, a division of Webster Bank. Member FDIC and equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.

Media Contact:
Sarah Barr, 203-578-2287
sbarr@websterbank.com