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n e w h a v e n b i z . c o m | A u g u s t 2 0 2 2 | n e w h a v e n B I Z 21 the business community," Bergstrom said. "I see that continuing and becoming stronger with bringing Dave on board and having him solely focused on the New Haven market, along with our other seasoned professionals who are based in New Haven." Ferretti's responsibility is to foster and develop relationships with middle market companies, particularly companies with revenues in excess of $25 million. Webster Bank provides working capital, equipment and acquisition financing, as well as cash, treasury and wealth management- related services. Bank officials anticipate the Sterling merger will allow Webster to expand its products and services and invest in technology. In May, for example, Webster entered into an agreement with Save, a Texas-based fintech company that works to help people earn higher returns on their savings accounts. "We will be looking to expand our suite of cash management services," Bergstrom said. "We'll be making it easier for customers to control their cash flow. We already offer mobile banking for commercial as well as other consumers. We will continue to invest in improvements that will enhance client experience." Bank officials said they do not anticipate significant real estate changes. Currently, Webster has 27 banking centers and 53 ATMs in New Haven County, according to bank spokeswoman Elaine K. Ficarra. "We are constantly evaluating our customers' preferences," Bergstrom said. "To the extent that we can reduce the branch square footage, we will look to do that. But there aren't any widespread plans to consolidate branches at this moment." Engaging the community According to Webster, the merger has also allowed it to increase its community engagement and philanthropic efforts. In June, parent company Webster Financial announced it would be investing $6.5 billion in the communities it serves over the next three years. e investment includes $1.35 billion toward making housing affordable, $2.1 billion in community development lending and investments, and $2.1 billion in small business lending with a focus on minority and women-owned businesses. Webster says it will continue supporting programs that address food scarcity, workforce development, financial literacy and more. Webster also established a new office of corporate responsibility to oversee expanded community engagement efforts made possible by the merger. "Given our increased scale, we have been able to formally establish an office of corporate responsibility to oversee the company's community investment, philanthropy efforts and sustainability work," Ciulla said. "Collectively, we have the ability to provide more for our communities." Also in June, Webster announced it now has community liaison officers to support and provide financial education to low-to-moderate income and minority borrowers. e officers will hold workshops and classes on topics such as first-time homebuying and work with Webster's lending team to increase lending opportunities for consumers. Webster's down payment assistance program, for example, aims to assist first-time homebuyers who otherwise might not be able to purchase a house. It is effective for applications taken on or aer March 21, 2022, and offers assistance to be used for a down payment or toward closing costs. e community liaison officers work in partnership with the bank's new office of corporate responsibility, and they are working to build and maintain relationships with community, charitable and nonprofit organizations. In Connecticut, the new community liaison officers include Kadie Ortiz in Bridgeport, Claudia Riley in Hartford, and Robert Jaekle in Waterbury. Jaekle is responsible for the New Haven region, bank officials said. n David Ferretti, SVP, Market Manager, New Haven, Webster Bank PHOTO | CONTRIBUTED Timothy D. Bergstrom, Regional President, Connecticut, Webster Bank PHOTO | CONTRIBUTED

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