Webster Bank Signs Replace Sterling National's Across Long Island

Garden City NY

03 February, 2022

11:38 AM

Description

GARDEN CITY, NY — Sings for Webster Bank replaced those of Sterling National Bank at dozens of branches across Long Island on Tuesday. The Connecticut-based Webster Financial Corp. completed its $10.3-billion acquisition of Sterling Bancorp on Feb. 1, extending the merged institutions' footprint into New York to include Long Island and Hudson River Valley. With the merger, Webster acquired Sterling National's 33 branches on Long Island, spanning from Wading River in Suffolk County to Valley Stream on the border of Queens, according to a map on Webster's website. Webster Financial Corp. now has 202 financial centers in the Northeast Region, CTInsider reports. Webster and Sterling announced the merger in April 2021, and federal regulators gave the deal final approval in December of that year. Sterling Bancorp was headquartered in Montebello in Rockland County. In October 2017, Sterling Bancorp fully acquired Astoria Financial Corporation, which had multiple Astoria Federal Savings branches on Long Island. With Tuesday's merger, Webster also relocated its Connecticut headquarters from Waterbury to Stamford.