Webster Financial (WBS) in Waterbury, Conn., is rooting for Yale University's sports teams.
The $21 billion-asset Webster has become the official bank of Yale athletics, it announced last week. The three-year agreement will give Webster advertising and promotional opportunities at Yale sporting events and venues.
Financial terms were not disclosed, but it is Yale athletics' largest sponsorship agreement in dollar terms and the first with a bank, a university spokesman said.
While Yale's academic reputation has always overshadowed its athletic efforts, the university has won more than 100 national championships throughout its history. One of the biggest successes came last year, when its men's hockey team won the NCAA championship.
"There is a special bond between our two Connecticut institutions and it's a perfect fit for Webster as a community-focused, values-guided bank," said Jeff Klaus, regional president for Webster, in a news release announcing the partnership.
Webster also signed a major sponsorship deal with the University of Connecticut two years ago, becoming the "Official Bank of UConn." It offers a UConn-branded credit card.
Berkshire Hills Bancorp (BHLB) in Pittsfield, Mass., is another New England bank that has cozied up to the UConn athletics program, naming Geno Auriemma, the coach of the university's extremely successful women's basketball team, to its board in 2012. He left the board this past January but continues to serve as a spokesman for the bank.