WATERBURY, Conn. - Webster Financial Corp. said it has filed with the Securities and Exchange Commission to offer up to 230,000 shares of Series B cumulative convertible preferred stock at $100 each.

Webster, the parent of First Federal Bank of Waterbury, said half of the net proceeds will used to redeem a portion of the Series A perpetual preferred stock issued to the Federal Deposit Insurance Corp. in connection with First Federal's recent acquisition of the failed First Constitution Bank.

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