PRIVATE BANKING INSIGHTS

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1 PRIVATE BANKING INSIGHTS September 2013 In This Issue From the Head of Private Banking Dan FitzPatrick spoke to stock analysts and investors recently in New York about the future of Webster Private Bank. We are in the business of attracting, retaining and growing long-term client relationships where we can add value across generations. 1st Annual Investor Breakfasts Webster Private Bank is pleased to announce its 1st Annual Investor Breakfasts. We are excited to bring you timely, valuable content from Webster Private Bank experts. Yves Cochez - Chief Investment Strategist Yves Cochez joined Webster Private Bank in May and he is already making an impact. Timothy Throckmorton - Head of Fiduciary Services Timothy Throckmorton joined Webster Private Bank in July; he brings his extensive experience in fiduciary services to our private banking team. His unique background in trusts, estates, investment management, and wealth transfer planning along with his understanding of the needs of private clients is critical to continually improving our clients satisfaction. Banking and Lending Update Our lending capabilities are designed to meet the complex and sophisticated needs of private banking clients. Our credit experts are ready to help you meet your financial needs today and into the future. Additionally we are mobile! We have expanded our mobile offering to include Webster Mobile Deposit with additional capabilities for Webster Private Bank clients.

2 2 Dan FitzPatrick spoke to stock analysts and investors recently in New York about the future of Webster Private Bank. We are in the business of attracting, retaining and growing long-term client relationships where we can add value across generations. From the Head of Private Banking Dan Fitzpatrick Head of Private Banking We have developed a strategic plan for our Private Banking business and positioning it for growth and expanded services to our clients. While our existing capabilities support our current client needs, we want to position ourselves to stay competitive in the ever-evolving high-net-worth marketplace. On the credit side, we have enhanced our process for lending to LLCs and trusts to better serve the needs of clients who are increasingly using those structures to hold residences and other assets for wealth transfer and privacy purposes. And we continue our emphasis on competing effectively in the jumbo and "super jumbo" mortgage financing market. At the same time, we are dedicating significant resources to the build-out of our investment management and fiduciary capabilities. In order to accomplish this latter goal, we have embarked on a complete overhaul of our investment management platform and offering. Our Chief Investment Strategist, Yves Cochez, has developed a Webster Private Bank view on global markets and the asset allocation strategies appropriate for our high-net-worth clients. These strategies are being implemented now, with both global and domestic-oriented options available. In addition to expanding our investment product offering through enhancements to our investment platform, we plan to roll out a new fiduciary offering in which we call Agent for Trustee services. Under the leadership of Tim Throckmorton, this program will leverage our fiduciary experience and infrastructure to provide administrative support and investment management services to individuals acting as trustees of personal trusts. To facilitate the changes necessary to direct and manage our growth, we have welcomed Chief Investment Strategist, Yves Cochez, to our team in May and Director of Fiduciary Services, Tim Throckmorton joined us in July. They each bring more than 20 years of relevant private banking and wealth management experience with other world-class financial firms; we are very pleased to have them both on our team. And we continue to add talented new members to our exceptional team of professionals. In sum, it is a very exciting time to be part of Webster and Webster Private Bank! Best, Dan

3 3 1st Annual Investor Breakfasts Webster Private Bank is pleased to announce its 1st Annual Investor Breakfasts. We are excited to bring you timely, valuable content from Webster Private Bank experts. Webster Private Bank is pleased to announce its 1st Annual Investor Breakfasts. We're excited to bring you timely, valuable content from Webster Private Bank experts. Our two main topics are: Global Investment Perspectives Yves Cochez, Chief Investment Strategist and Year-end Tax and Planning Strategies Tim Throckmorton, Head of Fiduciary Services Join us! October 16 from 7:30 a.m. - 9:00 a.m. at the Hartford Club in Hartford October 23 from 7:30 a.m. - 9:00 a.m. at the Indian Harbor Yacht Club in Greenwich We look forward to seeing you. Please RSVP directly to me or Megan Seymour ([email protected] ). We will provide parking information upon registration. As always, give us a call with any questions.

4 4 Yves Cochez joined Webster Private Bank in May and he is already making an impact. Yves Cochez - Chief Investment Strategist Yves Cochez Chief Investment Strategist Yves Cochez has joined Webster Private Bank as senior vice president and Chief Investment Strategist. Cochez is responsible for managing the Private Bank's portfolio management team and setting the overall direction of investment management for its high net worth clients. He is based in Stamford, Conn. Prior to joining Webster Private Bank he held a number of senior investment positions across the globe with Deutsche Bank Private Wealth Management. Yves will present Webster Private Bank's Market Commentary and investment philosophy quarterly for clients. "It's critical to keep clients, fiduciaries, and our centers of influence aware of trends in the markets, both U.S. and global. My objective is to present our views of the global economy and financial markets, as well as investment recommendations to help our clients achieve their objectives," Cochez said. His next Market Commentary will be distributed in the first week of October. "Yves brings two decades of global investment management experience to our strong and growing Private Bank team," said Dan FitzPatrick, EVP and Head of Webster Private Bank. "Yves' leadership and expertise will play a critical role in driving enhancements to Webster's high net worth investment management platform that will improve our ability to help our clients achieve their financial goals." A native of Belgium, Cochez earned his Bachelors and MBA from the Universite Libre de Bruxelles, in Brussels, Belgium. He holds Series 7 and 66 Licenses and is fluent in three languages. He is a resident of Mamaroneck, N.Y.

5 5 Timothy Throckmorton joined Webster Private Bank in July; he brings his extensive experience in fiduciary services to our private banking team. His unique background in trusts, estates, investment management, and wealth transfer planning along with his understanding of the needs of private clients is critical to continually improving our clients satisfaction. Timothy Throckmorton - Head of Fiduciary Services Timothy Throckmorton Head of Fiduciary Services Timothy (Tim) Throckmorton is senior vice president and Director of Fiduciary Services. Throckmorton is responsible for overseeing and helping to grow the personal trust and estate administration business. He also plays an important role in the design and implementation of enhancements to the Private Bank's investment management and fiduciary administration platform. Throckmorton is based in Hartford, Conn. Most recently, he served as chief philanthropic officer for Wells Fargo Private Bank in Doylestown, Penn. Prior to that, he was a philanthropic market executive at Bank of America Merrill Lynch and chief trust officer at Merrill Lynch Trust Company in Pennington, N.J. He also served as vice president at U.S. Trust in Stamford, Conn., and was a trust and estates partner at Davidson, Dawson, and Clark, LLP and Hawthorne, Ackerly, and Dorrance, LLC both in New Canaan, Conn. "Webster Private Bank is a growing force in the Wealth Management business. It is exciting to be a part of an organization so committed to serving clients and so well positioned in the marketplace to grow into the future as we improve and expand our capabilities," said Throckmorton. "Tim brings more than two decades of experience as a senior fiduciary banker and lawyer to our already strong and growing Private Bank team," said Dan FitzPatrick, EVP and head of Webster Private Bank. "Tim's exceptional leadership and technical skills will play a critical role in our plans to enhance our fiduciary capabilities while maintaining our focus on developing and nurturing long-term, multi-generational relationships and helping our clients achieve their financial goals." Throckmorton received his LLM in taxation from Quinnipiac Law School, his law degree from New York Law School, and his Bachelors in finance and marketing from the University of Denver. He is a frequent speaker and presenter on charitable topics and in seminars and has a long history of being actively involved on local boards - from the performing arts to community foundations to environmental organizations.

6 6 Banking and Lending Update Our lending capabilities are designed to meet the complex and sophisticated needs of private banking clients. Our credit experts are ready to help you meet your financial needs today and into the future. Additionally we are mobile! We have expanded our mobile offering to include Webster Mobile Deposit with additional capabilities for Webster Private Bank clients. The lending market has experienced volatility since the beginning of 2013 with rates having increased in some cases by as much as 1%. The jumbo mortgage market (generally loans over $417,000) has seen some increased activity as many borrowers have looked to lock in lower rates. In many cases Adjustable Rate Mortgages (ARMs) have become more attractive than fixed rate mortgages. Webster Private Bank has mortgage programs 1 that are designed to meet our clients' needs including interest-only loans, loans to Trusts or LLCs, as well as other customized credit facilities. Our Webster Private Bankers are at the ready to help you with those needs today! Webster Private Bank is also mobile! As our clients have increasingly adopted the use of smartphones (i.e. iphones and Androids 2 ). Webster Bank has kept up with the changes. Our new Webster Remote Deposit3 feature allows you to make deposits at home, on the road while on business or while on vacation. Webster Private Bank clients can also enjoy higher deposit limits by contacting their Private Banker. We've made it easy and it's only available to Webster Private Bank clients. Contact your Webster Private Banker for assistance. 1 All credit products are subject to the normal credit approval process. 2 You must be enrolled in Webster Online Services to use Webster Mobile Banking. Message and data rates may apply. Check with your mobile services provider for any charges that may apply for data usage on your mobile device. Mobile Deposit Limits: You may deposit up to five (5) checks in one (1) business day, up to a total of fifteen 3 thousand dollars ($15,000.00) in one business day. Over a ten (10) business day period, you may deposit up to ten (10) checks, up to a total of thirty thousand dollars ($30,000.00). You must request higher limits from your Private Banker. Subject to eligibility requirements.

7 Investment, trust, credit and banking services offered through Webster Financial Advisors, a division of Webster Bank, N.A. Webster Private Bank is a trade name of Webster Financial Advisors. Investment products offered by Webster Financial Advisors are not FDIC or government insured; are not guaranteed by Webster Bank; may involve investment risks, including loss of principal amount invested; and are not deposits or other obligations of Webster Bank. Webster Financial Advisors is not in the business of providing tax or legal advice. Consult with your independent attorney, tax consultant or other professional advisor for final recommendations and before changing or implementing any financial, tax or estate planning advice. All credit products are subject to the normal credit approval process. Insurance and risk management services are offered through a marketing relationship with USI Insurance Services of Connecticut, Inc., a subsidiary of USI Holdings Corporation. SEI Investments Management Corp. (SIMC) and Webster Financial Advisors, a division of Webster Bank, N.A., are independent entities. SIMC is the investment advisor to the SEI Funds and co-advisor to the Individual Managed Account Program (IMAP). SEI Funds are distributed by SEI Investment Distribution Co. (SIDCO). SIMC and SIDCO are wholly owned subsidiaries of SEI Investments Company All rights reserved. Webster Bank, N.A. Member FDIC. The Webster Symbol and Webster Financial Advisors are registered in the U.S. Patent and Trademark Office.