Webster Bank Celebrates Grand Opening of Webster Hall

Webster Bank, N.A., a subsidiary of Webster Financial Corporation, and the Harold

Webster Smith Foundation today celebrated the official naming of Webster Hall,

the 2,639-seat performance area of the recently renovated Palace Theater of

Waterbury, CT. The dedication ceremony was in honor of Webster's endowment

gift and challenge grant of a combined $1 million to the Palace.

"The Palace is both a cultural and social center for Waterbury and an

economic driver to our region," stated Webster chairman and chief executive

officer, James C. Smith. "Webster fully supports the Palace and its uplifting

influence on our community, and we are honored by the placing of the Webster

name on this beautiful hall. On behalf of our employees, customers and

shareholders, I thank you."

Webster has pledged $500,000 as an initial endowment gift to the Palace

with an additional $500,000 allocated as matching funds for other individual

and corporate contributions.

"We want future generations to come to the Palace for fun and cultural

enrichment without relying on taxpayer dollars," said Smith. "Webster is

pleased to help the Palace achieve its goal of financial independence, and we

encourage all of greater Waterbury to support our magnificent center for the

arts."

"The Palace's first year was a huge success, and we're looking forward to

an even brighter future," said attorney and chairman of the Palace Theater

board of directors, Tim Moynahan. "We'll mark our second year by following

Webster's lead and establishing an endowment that will be the financial

foundation for the Palace."

The renovated Palace Theater opened its doors in November 2004. The 2004-

2005 Inaugural Season opened with a sold-out performance by Tony Bennett and

featured leading acts by Bill Cosby, B.B. King, Alison Krauss and Union

Station and the Broadway production of "Chicago."

Over the course of this first season, more than 100,000 patrons attended

Palace performances, including twenty-five greater Waterbury school groups

from the Palace's education outreach program. In addition, the Palace quickly

has built a volunteer program with more than 400 individuals who assist in the

planning and staffing of the theater's events.

Webster Financial Corporation is the holding company for Webster Bank,

National Association and Webster Insurance. With $17.4 billion in assets,

Webster provides business and consumer banking, mortgage, insurance, financial

planning, trust and investment services through 154 banking offices, 293 ATMs,

telephone banking and the Internet. Webster Bank owns the asset-based lending

firm Webster Business Credit Corporation, the insurance premium finance

company Budget Installment Corp., Center Capital Corporation, an equipment

finance company headquartered in Farmington, Connecticut and provides health

savings account trustee and administrative services through HSA Bank, a

division of Webster Bank.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.