Webster Bank announced a $4.6 million financing package to President Titanium, a Massachusetts wholesaler-distributor worldwide of the strategic metal to customers, including Pratt & Whitney, Boeing Rolls Royce and Johnson & Johnson.
The package includes a $3 million credit line and a $1.6 million term loan to the 37-year-old family enterprise in Hanson, Mass.
The Waterbury regional bank is on a quest to add at least $400 million to its loan portfolio this year by expanding its lending network in New England.
Webster’s parent, Webster Financial, received $400 million as part of the federal government’s bank bailout in late 2008. Earlier this year, the government granted Webster approval to repay $100 million of the bailout.
Webster Financial has $18 billion in assets.
