Santander completes Webster acquisition; assumes debt, issues preferred

Santander Holdings USA, Inc.

Per Webster share: 2.0548 Banco Santander ADs plus $48.75 cash; deal closed Aug 20, 2026.
SHUSA assumed Webster Virginia's 4.100% Senior Notes due 2029, 5.784% Subordinated Notes due 2035, and SOFR+2.95% junior debentures due 2033.
SHUSA issued 6,000 Series H (6M depositary shares) and 135,000 Series I (5.4M depositary shares) perpetual preferred.
Webster Bank merged into Santander Bank; Webster Virginia merged into SHUSA, which continues as surviving holding company.

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