Webster Financial completed the merger with Sterling Bancorp in a $5.9bn deal.

Webster Financial, the holding company for Webster Bank, National Association and its HSA Bank division, completed the merger with Sterling Bancorp, a regional bank holding company, in a $5.9bn deal. "We are bringing together two high-performing organizations with strong cultural and business model alignment to create a powerhouse Northeast bank. This combination provides exceptional financial benefits and enables us to more aggressively invest in key businesses and activities to enhance value for our customers, our communities, our shareholders and our bankers," John R. Ciulla, Webster Chairman, President and CEO.