Webster to acquire Ametros for $350M cash; accretion >2% to FY25 EPS

WEBSTER FINANCIAL CORP

Deal valued at $350M cash; expected close Q1 2024; Ametros to operate as Webster subsidiary.
Ametros has $804M in deposits (avg cost <10 bps, duration >20 yrs, 25% CAGR projected).
Transaction >2% accretive to FY25 consensus EPS; IRR >25%; tangible book earn-back ~5 yrs.
Over 24,000 members; deposits under custody more than doubled over past three years.
Enhances Webster's low-cost deposit base and healthcare financial services expertise.

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