WATERBURY, Conn., March 19, 2012 /PRNewswire/ -- Webster Bank, a leading regional bank, today announced the targeted expansion of Webster Capital Finance Inc., with the addition of three well-known veteran lenders in the transportation, construction and manufacturing finance arena.
Timothy S. Moriarity, vice president, of Cranberry Township, Penn, will emphasize the Pennsylvania, Ohio and southern New Jersey area. Tim's experience includes work with Citizens and PNC Banks. Tim earned his bachelors and MBA from the University of Pittsburgh and is an active with Junior Achievement in Western Pennsylvania.
Timothy J. Woodcock, vice president, of St, Charles, IL, will serve clients in Illinois, Wisconsin and Indiana. Tim has also worked with Capital One Equipment Leasing and Finance. Tim earned his bachelors in finance and management from Loras College. He is a volunteer middle school basketball coach, a member of the fundraising division for the Sunny Ridge Family Center and is a member of the finance team at Beverly Farm, a home for challenged youth.
Jerald F. Herrmann, vice president, of St. James, NY, will focus his duties in the New York and northern New Jersey region. Prior to joining Webster Capital Finance, Jerry worked for SunTrust Leasing Corporation. A graduate of State University of New York at Oneonta with a degree in business economics, Jerry is a Scout Master for Boy Scouts of America in St. James, NY.
"Having Jerry, Tim and Tim on the team gives us a significant presence in these key markets," said Samuel Hanna, president and chief operating officer of Webster Capital Finance. "Their reputation, product knowledge and the ability to execute effective solutions on behalf of their clients is well known in the market place."
Webster Capital Finance (WCF), a subsidiary of Webster Bank, is an equipment financing company based in Farmington, Conn., that transacts business through a dedicated network of sales executives grouped by customer type or equipment-specific business lines. WCF's portfolio totals $474.8 million. Since 1987, Webster Capital Finance has been providing equipment financing geared toward manufacturing, environmental, construction and transportation businesses. This group of experienced professionals is committed to Webster's superior customer service.
Webster Financial Corporation is the holding company for Webster Bank, National Association. With $19 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust and investment services through 168 banking offices, 473 ATMs, telephone banking and the Internet. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance; and provides health savings account trustee and administrative services through HSA Bank, a division of Webster Bank. Member FDIC and equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.
Sarah Barr, 203-578-2287
Terry Mangan 203-578-2318
SOURCE Webster Financial Corporation
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