HSA Bank Acquires Health Savings Accounts from Inland Bank and Trust

MILWAUKEE, Nov. 17, 2022 /PRNewswire/ -- HSA Bank, a division of Webster Bank, N.A., and Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, N.A., announced today that it has acquired the health savings accounts (HSA) of Inland Bank and Trust. This acquisition offers Inland Bank and Trust's HSA accountholders new and easy ways to manage their healthcare spending and saving through an industry-leading HSA provider with more than two decades of experience.

Under the agreement, approximately 4,800 accounts, including an estimated $15.5 million in deposits, have transitioned from Inland Bank and Trust to HSA Bank, the nation's leading bank administrator and depository of HSAs. The transaction was subject to regulatory approval and customary closing conditions.

"We are happy to welcome the Inland Bank and Trust HSA accountholders to HSA Bank," said Chad Wilkins, President of HSA Bank. "We are well-equipped to help accountholders make the most of their health and wealth, now and into retirement with tools and experiences that drive exceptional outcomes."

Current Inland Bank and Trust HSA accountholders do not need to take any action. Accountholders have received communications in advance of the transition.

About HSA Bank:
At HSA Bank, we're working toward a world where everyone is empowered to save for a healthy future. By providing the right tools and resources, we make it simple for our over 3 million members nationwide to maximize their savings for healthcare and long-term goals. As a leader in health accounts for over two decades, we continue to innovate. Our offerings in the healthcare savings space drive down healthcare costs, increase access, and assist with decision-making for consumers, health plans, partners, and advisors. As of September 30, 2022, HSA Bank had $11.1 billion in total footings comprising $7.9 billion in deposit balances and $3.2 billion in assets under administration through linked investment accounts and is a division of Webster Bank, N.A., Member FDIC Plan Administrative Services and Benefit Services are administered by Webster Servicing LLC. To learn more, visit hsabank.com. 

Media Contact: 
Alice Ferreira
Webster Bank
(203) 578-2610
acferreira@websterbank.com

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SOURCE HSA Bank