Webster Financial acquires interLINK deposit platform managing >$9B in sweep deposits

WEBSTER FINANCIAL CORP

Webster Bank signs definitive agreement to acquire StoneCastle Insured Sweep (interLINK) from StoneCastle Partners.
interLINK administers over $9 billion in deposits via FDIC-insured cash sweep programs between banks and broker/dealers.
Acquisition adds scalable source of core deposit funding and complements Webster's omnichannel deposit strategy.
Transaction expected to close in Q1 2023; financial terms not disclosed.

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