Banco Santander’s planned acquisition of Webster Financial’s Webster Bank takes a step forward after the U.S. Office of the Comptroller of the Currency (OCC) approves the merger application. According to a filing by Webster Financial with the Securities and Exchange Commission, the OCC greenlights the proposal, which is one of several required regulatory steps. The transaction is valued at about $12.2 billion. The deal is not yet final: it still requires approval from other regulators, including the Federal Reserve Board and the European Central Bank. Both outlets note that the acquisition is expected to close in the second half of 2026, assuming the remaining reviews and customary closing conditions are satisfied.
Once all approvals are obtained and the deal closes, Santander would expand its operations in the U.S. banking market through the acquisition of Webster Bank. Until then, the merger remains subject to the completion of ongoing regulatory processes and standard conditions for such transactions.
