Webster Bank is putting up $10 million in working capital and equipment financing for Connecticut Spring & Stamping Corp. Inc. in Farmington, the Waterbury regional lender says.
Connecticut Spring makes precision parts for medical, aerospace, firearms and defense markets worldwide. It also has warehouse facilities in Puerto Rico and Singapore.
Connecticut Spring Chief Financial Officer Ray A. Dalrymple said the company shopped a number of lenders before settling on Webster as its lender.
Webster, which got a $400 million bailout from U.S. taxpayers in late 2008, is aggressively pursuing expansion of its commercial lending portfolio in New England.
ADVERTISEMENT
The bank has $18 billion in assets.
