Webster Financial Corporation (WBS)’s Q4 2014 Earnings Conference Call Transcript

Gotcha. Okay. Last question so the FDIC came as I was in guidance on what constitutes broker deposits that guidance’s off two or three weeks ago. Do you think there’ll be any impact on the HSA deposit business ? Your business or your competitor’s business on how HSA deposits are classified. I know that you guys have a direct operation with some of your competitors, operate though a trustee type of model. Can you talk about that and what you’ve learned since that memo came up from the FDIC ?

Glenn I. MacInnes – Chief Financial Officer

Sure that was a very interesting memo. Good guidance I know that maybe a couple of calls too with regard to certain portfolios at banks. I guess what we wanna focus on is our deposits are retail deposits, they’re not broker deposits. I think I’ll let the other players speak for themselves. But I think it could have an impact on the competitive landscape. We’ve always said that one of the most important aspects of HSA to us is the value of the deposits being able to fund our loans and be considered as retail transactional deposits so we’re a 100% confident that that’s the case. I think best part of the value of being a bank and being able to have a full vertical here in terms of all the way through enrollment and service and holding the deposits gives our model a competitive advantage over others.

Matthew Kelly – Strategy

Okay. Got it. Great. Thank you.

Operator:

Thank you. You’ve reached the end of our Q & A session. Let’s turn the call over to management for any further enclosing comments.

Glenn I. MacInnes – Chief Financial Officer

Thank you very much for being with us today. Thank you Kevin. Good day.

Operator:

Thank you. That concludes today’s tele-conference. You may disconnect the line to this conference. Have a wonderful day. We thank you for your participation today.