Webster Financial’s HSA Bank subsidiary acquires emergency savings account provider

Stamford-based Webster Financial’s HSA Bank subsidiary has acquired a Milwaukee-based provider of employer-sponsored emergency savings accounts.

HSA Bank plans to keep SecureSave’s platform in place and add it to its existing products. As of Sept. 30, HSA Bank reported $9.1 billion in deposit balances and $6.3 billion in assets under administration through linked investment accounts.

Terms of the deal, which closed Dec. 4, were not disclosed.

Webster Bank has $80 billion in assets and more than 200 banking locations in Connecticut, Massachusetts, Rhode Island and the New York metropolitan area. The bank moved its headquarters to Stamford in 2021 after merging with Sterling Bancorp.