06.18.26

Santander-Webster Deal Gets OCC Approval

by: Dan Ennis

The U.S. Office of the Comptroller of the Currency (OCC) has approved Banco Santander’s proposed $12.3 billion acquisition of Webster Bank, marking a significant step toward completing the deal. The approval came 74 days after Santander submitted its application, reflecting the faster regulatory timelines seen under the current administration compared with many recent large-bank mergers. The transaction still requires approval from the Federal Reserve and the European Central Bank, while the U.S. Justice Department continues reviewing potential antitrust concerns. If completed, the merger would create a U.S. banking institution with approximately $327 billion in assets. Webster shareholders have already approved the deal, and both banks have begun planning their combined management structure. Santander expects the acquisition to close in the second half of 2026, assuming all remaining regulatory approvals are secured.

Read the full article on Banking Dive