Waterbury lender Webster Financial Corp. said it has completed its acquisition of JPMorgan Chase’s health savings account division.
The deal, first announced in September, includes approximately $1.3 billion in deposits in 785,000 accounts, as well as $185 million in other assets under administration.
The acquisition grows Webster’s HSA Bank division to 1.6 million accounts and more than $4 billion in assets under administration.
HSAs allow account holders to save as much as $3,300 in pre-tax money from their paychecks to pay for healthcare expenses.
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