WEBSTER, STERLING ANNOUNCE RECEIPT OF ALL REQUIRED REGULATORY APPROVALS FOR MERGER

WATERBURY, Conn. and PEARL RIVER, N.Y., Dec. 20, 2021 /PRNewswire/ -- Webster Financial Corporation (NYSE: WBS) ("Webster") and Sterling Bancorp (NYSE: STL) ("Sterling") jointly announced today that Webster has received regulatory approval from the Board of Governors of the Federal Reserve System to complete the previously announced merger between the two companies.  As previously announced, the Office of the Comptroller of the Currency has also approved the merger of the respective bank subsidiaries of Webster and Sterling, Webster Bank, National Association and Sterling National Bank.  All required regulatory approvals to complete the merger have now been received.