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<P align="center" style="font-size: 10pt"><B>As filed with the
Securities and Exchange Commission on January 27, 2005</B>



<P align="right" style="font-size: 10pt">Registration No.&nbsp;333-________



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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549
</B>
</DIV>
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<P align="center" style="font-size: 18pt"><B>FORM S-8</B>


<DIV align="center" style="font-size: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B>
</DIV>
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<P align="center" style="font-size: 24pt"><B>Webster Financial Corporation</B>


<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>



<P align="center" style="font-size: 10pt"><B>Delaware</B><BR>
(State or other jurisdiction of<BR>
incorporation or organization)




<P align="center" style="font-size: 10pt"><B>06-1187536</B><BR>
(IRS employer identification number)



<P align="center" style="font-size: 10pt"><B>Webster Plaza<BR>
Waterbury, Connecticut 06702<BR>
(203)&nbsp;578-2476</B><BR>
(Address of Principal Executive Offices)

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<P align="center" style="font-size: 10pt"><B>First City Bank 2000 Stock Option Plan<BR>
First City Bank 1997 Stock Option Plan<BR>
First City Bank 1989 Stock Option Plan<BR>
The North American Bank and Trust Company Officers&#146; and Employees&#146; Stock Option Plan</B><BR>
(Full Title of the Plan)



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<P align="center" style="font-size: 10pt">William J. Healy<BR>
Webster Financial Corporation<BR>
Webster Plaza<BR>
Waterbury, Connecticut 06702<BR>
(203)&nbsp;578-2476<BR>
(Name, address and telephone number of Agent for Service)



<P align="center" style="font-size: 10pt">Copy to:<BR>
Stuart G. Stein, Esq.<BR>
Hogan &#038; Hartson L.L.P.<BR>
555 Thirteenth Street, N.W.<BR>
Washington, D.C. 20004-1109<BR>
(202)&nbsp;637-8575



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<P align="center" style="font-size: 10pt"><B>CALCULATION OF REGISTRATION FEE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="62%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="17" style="border-bottom: 3px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed Maximum</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed Maximum</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount of</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>Title of each class of securities</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>to be</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Offering Price</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Aggregate Offering</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Registration</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center" style="border-bottom: 1px solid #000000"> <B>to be registered</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Registered </B>(1)</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>per Share </B>(2)</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Price </B>(2)</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Fee</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>

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                    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">Common Stock, par value $.01 per share
</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="right" valign="top" style="border-top: 1px solid #000000">112,689</TD>
    <TD nowrap valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>

<TD align="center" valign="top" style="border-top: 1px solid #000000">47.985
</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>

<TD align="center" valign="top" style="border-top: 1px solid #000000">$5,407,382
</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>

<TD align="center" valign="top" style="border-top: 1px solid #000000">$637</td>
    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="17" style="border-top: 3px solid #000000">&nbsp;</TD>
</TR>

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</DIV>
<P align="left" style="font-size: 10pt">(1)&nbsp;The Registrant is registering 45,600 shares of its common stock, reserved for issuance pursuant
to the First City Bank 2000 Stock Option Plan, 25,650 shares reserved for issuance pursuant to the
First City Bank 1997 Stock Option Plan, 11,970 shares reserved for issuance pursuant to the First
City Bank 1989 Stock Option Plan and 29,469 shares reserved for issuance pursuant to The North
American Bank and Trust Company Officers&#146; and Employees&#146; Stock Option Plan.


<P align="left" style="font-size: 10pt">(2)&nbsp;Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(h)
of the Securities Act of 1933, as amended based on the average of the high and low price on January
24, 2005.



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<P align="center" style="font-size: 10pt">&nbsp;
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<DIV style="font-family: 'Times New Roman',Times,serif">








<P align="center" style="font-size: 10pt"><B>PART I</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The documents containing the information specified in Part&nbsp;I will be sent or given to
employees as specified by Rule&nbsp;428(b)(1) of the Securities Act of 1933, as amended (the &#147;Securities
Act&#148;). In accordance with the instructions to Part&nbsp;I of Form S-8, such documents will not be filed
with the SEC either as part of this Registration Statement or as prospectuses or prospectus
supplements pursuant to Rule&nbsp;424 of the Securities Act. These documents and the documents
incorporated by reference pursuant to Item&nbsp;3 of Part&nbsp;II of this Registration Statement, taken
together, constitute the prospectus as required by Section 10(a) of the Securities Act.


<P align="center" style="font-size: 10pt"><B>PART II</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>



<P align="left" style="font-size: 10pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Webster Financial Corporation (&#147;Webster&#148;) hereby incorporates by reference into this
registration statement the following documents filed by it with the SEC:


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>Webster&#146;s annual report on Form 10-K for the fiscal year ended
December&nbsp;31, 2003 (File No.&nbsp;001-31486) filed with the SEC on March&nbsp;15, 2004.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>Webster&#146;s quarterly report on Form 10-Q for the quarter ended
March&nbsp;31, 2004 (File No.&nbsp;001-31486) filed with the SEC on May&nbsp;10, 2004.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">(c)&nbsp;&nbsp;</TD>
    <TD>Webster&#146;s quarterly report on Form 10-Q for the quarter ended
June&nbsp;30, 2004 (File No.&nbsp;001-31486) filed with the SEC on August&nbsp;9, 2004.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">(d)&nbsp;&nbsp;</TD>
    <TD>Webster&#146;s quarterly report on Form 10-Q for the quarter ended
September&nbsp;30, 2004 (File No.&nbsp;001-31486) filed with the SEC on November&nbsp;9, 2004.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">(e)&nbsp;&nbsp;</TD>
    <TD>The description of Webster&#146;s common stock, par value $0.01 per
share (&#147;Common Stock&#148;), contained under the heading &#147;Description of Capital
Stock and Comparison of Shareholder Rights&#148; in Webster&#146;s registration statement
on Form S-4 (File No.&nbsp;333-118923) filed with the SEC on September&nbsp;10, 2004, as
amended.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, all documents and reports filed by Webster subsequent to the date hereof pursuant
to Sections&nbsp;13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (the
&#147;Exchange Act&#148;), prior to the filing of a post-effective amendment that indicates that all
securities offered have been sold or that deregisters all securities remaining unsold, shall be
deemed to be incorporated by reference in this registration statement and to be part hereof from
the date of filing of such documents or reports. Any statement contained in a document
incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or
superseded for purposes of this registration statement to the extent that a statement contained
herein or in any other subsequently filed document, which also is or is deemed to be incorporated
by reference herein, modifies or supersedes such statement. Any such statement so modified or
superseded shall not be deemed, except as so modified or superseded, to constitute a part of this
registration statement.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;4. Description of Securities</B>.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P align="left" style="font-size: 10pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel</B>.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;6. Indemnification of Directors and Officers</B>.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reference is made to the provisions of Article&nbsp;6 of Webster&#146;s Second Restated Certificate of
Incorporation and the provisions of Article&nbsp;IX of Webster&#146;s Bylaws, as amended.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Webster is a Delaware corporation subject to the applicable indemnification provisions of the
General Corporation Law of the State of Delaware (the &#147;Delaware Corporation Law&#148;). Section&nbsp;145 of
the Delaware Corporation Law provides for the indemnification, under certain circumstances, of
persons who are or were directors, officers, employees or agents of Webster, or are or were serving
at the request of Webster in such a capacity with another business organization or entity, against
expenses, judgments, fines and amounts paid in settlement in actions, suits or proceedings, whether
civil, criminal, administrative, or investigative, brought or threatened against or involving such
persons because of such person&#146;s service in any such capacity. In the case of actions brought by
or in the right of Webster, Section&nbsp;145 provides for indemnification only of expenses, and only
upon a determination by the Court of Chancery or the court in which such action or suit was brought
that, in view of all the circumstances of the case, such person is fairly and reasonably entitled
to indemnity for such expenses.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;6 of Webster&#146;s Second Restated Certificate of Incorporation provides that no director
will be personally liable to Webster or its stockholders for monetary damages for breach of
fiduciary duty as a director other than liability


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>for any breach of such director&#146;s duty of loyalty to Webster or its shareholders,
for acts or omissions not in good faith or which involve intentional misconduct or a
knowing violation of law,</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>for any payment of a dividend or approval of a stock repurchase that is illegal
under Section&nbsp;174 of the Delaware Corporation Law, or</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>for any transaction from which the director derived an improper personal benefit.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The foregoing indemnity and insurance provisions have the effect of reducing directors&#146; and
officers&#146; exposure to personal liability for actions taken in connection with their respective
positions.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Webster&#146;s Bylaws provide for indemnification of directors, officers, trustees, employees and
agents of Webster, and for those serving in such roles with other business organizations or
entities, in the event that such person was or is made a party to (or is threatened to be made a
party to) any civil, criminal, administrative, arbitration or investigative action, suit, or
proceeding (other than an action by or in the right of Webster) by reason of the fact that such
person is or was serving in such a capacity for or on behalf of Webster. Webster will indemnify
any such person against expenses (including attorneys&#146; fees), judgments, fines, penalties and
amounts paid in settlement if such person acted in good faith and in a manner such person
reasonably believed to be in or not opposed to the best interests of Webster, and, with respect to
any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful.
Similarly, Webster will indemnify such persons for expenses reasonably incurred and settlements
reasonably paid in actions, suits, or proceedings brought by or in the right of Webster, if such
person acted in good faith and in a manner such person reasonably believed to be in or not opposed
to the best interests of Webster; provided, however, that no indemnification will be made against
expenses in respect of any claim, issue, or matter as to which such person is adjudged to be liable
to Webster or against amounts paid in settlement unless and only to the extent that there is a
determination made by the appropriate party set forth in the Bylaws that the person to be
indemnified is, in view of all the circumstances of the case, fairly and reasonably entitled to
indemnity for such expenses or amounts paid in settlement. In addition, Webster may purchase and
maintain insurance on behalf of any person who is or was a director, officer, trustee, employee, or
agent of Webster or is acting in such capacity for another business organization or entity at
Webster&#146;s request, against any liability


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="left" style="font-size: 10pt">asserted against such person and incurred in such
capacity, or arising out of such person&#146;s status as such, whether or not Webster would have the
power or obligation to indemnify him against such liability under the provisions of Article&nbsp;IX of
Webster&#146;s Bylaws.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act may be permitted
to directors, officers and controlling persons of Webster pursuant to the foregoing provisions, or
otherwise, Webster has been advised that in the opinion of the SEC such indemnification is against
public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event
that a claim for indemnification against such liabilities (other than the payment by Webster of
expenses incurred or paid by a director, officer or controlling person of Webster in the successful
defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, Webster will, unless in the opinion of
its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed
in the Securities Act and will be governed by the final adjudication of such issue.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;7. Exemption from Registration Claimed</B>.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;8. Exhibits.</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><U>No.</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><U>Exhibit</U></TD>
</TR>

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<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen common stock certificate (filed as Exhibit&nbsp;4.1 to the
Corporation&#146;s Registration Statement on Form&nbsp;S-3 (File No.
333-81563) filed with the SEC on June&nbsp;25, 1999 and incorporated
herein by reference).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rights Agreement, dated as of February&nbsp;5, 1996, between the
Corporation and Chemical Mellon Shareholder Services, L.L.C.
(filed as Exhibit&nbsp;1 to the Corporation&#146;s Current Report on Form
8-K filed with the SEC on February&nbsp;12, 1996 and incorporated
herein by reference).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment No.&nbsp;1 to Rights Agreement, entered into as of November
4, 1996, by and between the Corporation and ChaseMellon
Shareholder Services, L.L.C. (filed as an exhibit to the
Corporation&#146;s Current Report on Form&nbsp;8-K filed with the SEC on
November&nbsp;25, 1996 and incorporated herein by reference).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment No.&nbsp;2 to Rights Agreement, entered into as of October
30, 1998, between the Corporation and American Stock Transfer &#038;
Trust Company (filed as Exhibit&nbsp;1 to the Corporation&#146;s Current
Report on Form&nbsp;8-K filed with the SEC on October&nbsp;30, 1998 and
incorporated herein by reference).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Hogan &#038; Hartson L.L.P. as to the validity of the
securities registered hereunder, including the consent of Hogan &#038;
Hartson L.L.P.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of KPMG LLP.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Hogan &#038; Hartson L.L.P. (included in Exhibit&nbsp;5).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><U>No.</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><U>Exhibit</U></TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included on the signature page in Part II of
this Registration Statement).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First City Bank 2000 Stock Option Plan.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First City Bank 1997 Stock Option Plan.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First City Bank 1989 Stock Option Plan.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The North American Bank and Trust Company Officers&#146; and Employees&#146;
Stock Option Plan.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Registrant. </I>Pursuant to the requirements of the Securities Act of 1933, the Registrant
certified that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the city of Waterbury, state of Connecticut, on
December&nbsp;30, 2004.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left">WEBSTER FINANCIAL CORPORATION</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ James C. Smith</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">James C. Smith</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman and Chief Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><B>POWER OF ATTORNEY</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below appoints James C. Smith or Harriet Munrett Wolfe,
jointly and severally, each in his or her own capacity, as true and lawful attorneys-in-fact, with
full power or substitution in such person&#146;s name, place and stead, in any and all capacities to
sign any amendments to this Registration Statement on Form S-8 and to file the same, with all
exhibits thereto, and other documents in connection therewith, with the Securities and Exchange
Commission, hereby ratifying and confirming all that said attorney-in-fact, or their substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Power of Attorney is valid as of its execution, until its withdrawal.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in the capacities indicated below, on this 30<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> day
of December, 2004.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><U>Signature</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><U>Title</U></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ James C. Smith
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman and Chief Executive Officer and Director</TD>
</TR>
<TR style="font-size: 1px">
<TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">James C. Smith</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ William J. Healy
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Executive Vice President and Chief Financial Officer</TD>
</TR>

<TR>
<TD align="left" valign="top" style="border-top: 1px solid #000000">William J. Healy</TD>

    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Principal Financial Officer and Principal Accounting Officer)</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Joel S. Becker
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR style="font-size: 1px">
<TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
Joel S. Becker</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ William T. Bromage
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>

<TR style="font-size: 1px">
<TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
William T. Bromage</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ George T. Carpenter
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR style="font-size: 1px">
<TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
George T. Carpenter</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><U>Signature</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;&nbsp;&nbsp;&nbsp;<U>Title</U></TD>
</TR>
<TR>
<TD>&nbsp;</TD>
</TR>
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ John J. Crawford
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR>
<TD align="left" valign="top" style="border-top: 1px solid #000000">John J. Crawford</TD>

    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Robert A. Finkenzeller
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR>
<TD align="left" valign="top" style="border-top: 1px solid #000000">Robert A. Finkenzeller</TD>

    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Roger A. Gelfenbien
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR>
<TD align="left" valign="top" style="border-top: 1px solid #000000">Roger A. Gelfenbien</TD>

    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR>
<TD align="left" valign="top" style="border-top: 1px solid #000000">C. Michael Jacobi</TD>

    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Laurence C. Morse
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR>
<TD align="left" valign="top" style="border-top: 1px solid #000000">Laurence C. Morse</TD>

    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR>
<TD align="left" valign="top" style="border-top: 1px solid #000000">Robert F. Stoico</TD>

    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="center" style="font-size: 10pt"><B>Exhibit&nbsp;Index</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><U>No.</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><U>Exhibit</U></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen common stock certificate (filed as Exhibit&nbsp;4.1 to the
Corporation&#146;s Registration Statement on Form&nbsp;S-3 (File No.
333-81563) filed with the SEC on June&nbsp;25, 1999 and incorporated
herein by reference).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rights Agreement, dated as of February&nbsp;5, 1996, between the
Corporation and Chemical Mellon Shareholder Services, L.L.C.
(filed as Exhibit&nbsp;1 to the Corporation&#146;s Current Report on Form
8-K filed with the SEC on February&nbsp;12, 1996 and incorporated
herein by reference).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment No.&nbsp;1 to Rights Agreement, entered into as of November
4, 1996, by and between the Corporation and ChaseMellon
Shareholder Services, L.L.C. (filed as an exhibit to the
Corporation&#146;s Current Report on Form&nbsp;8-K filed with the SEC on
November&nbsp;25, 1996 and incorporated herein by reference).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment No.&nbsp;2 to Rights Agreement, entered into as of October
30, 1998, between the Corporation and American Stock Transfer &#038;
Trust Company (filed as Exhibit&nbsp;1 to the Corporation&#146;s Current
Report on Form&nbsp;8-K filed with the SEC on October&nbsp;30, 1998 and
incorporated herein by reference).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Hogan &#038; Hartson L.L.P. as to the validity of the
securities registered hereunder, including the consent of Hogan &#038;
Hartson L.L.P.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of KPMG LLP.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Hogan &#038; Hartson L.L.P. (included in Exhibit&nbsp;5).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included on the signature page in Part II of
this Registration Statement).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First City Bank 2000 Stock Option Plan.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First City Bank 1997 Stock Option Plan.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First City Bank 1989 Stock Option Plan.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The North American Bank and Trust Company Officers and Employees
Stock Option Plan.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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[{"type": "S-8", "sequence": "1", "filename": "w04887sv8.htm", "description": "FORM S-8", "secsgml_size_bytes": 49084}]
{"company-data": {"conformed-name": "WEBSTER FINANCIAL CORP", "cik": "0000801337", "assigned-sic": "6021", "irs-number": "061187536", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-122344", "film-number": "05554535"}, "business-address": {"street1": "WEBSTER PLAZA", "street2": "145 BANK ST", "city": "WATERBURY", "state": "CT", "zip": "06720", "phone": "2037532921"}, "mail-address": {"street1": "WEBSTER PLAZA", "city": "WATERBURY", "state": "CT", "zip": "06720"}}
sv8
As filed with the
Securities and Exchange Commission on January 27, 2005
Registration No. 333-________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
Webster Financial Corporation
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of
incorporation or organization)
06-1187536
(IRS employer identification number)
Webster Plaza
Waterbury, Connecticut 06702
(203) 578-2476
(Address of Principal Executive Offices)
First City Bank 2000 Stock Option Plan
First City Bank 1997 Stock Option Plan
First City Bank 1989 Stock Option Plan
The North American Bank and Trust Company Officers' and Employees' Stock Option Plan
(Full Title of the Plan)
William J. Healy
Webster Financial Corporation
Webster Plaza
Waterbury, Connecticut 06702
(203) 578-2476
(Name, address and telephone number of Agent for Service)
Copy to:
Stuart G. Stein, Esq.
Hogan & Hartson L.L.P.
555 Thirteenth Street, N.W.
Washington, D.C. 20004-1109
(202) 637-8575
CALCULATION OF REGISTRATION FEE
Amount
Proposed Maximum
Proposed Maximum
Amount of
Title of each class of securities
to be
Offering Price
Aggregate Offering
Registration
to be registered
Registered
(1)
per Share
(2)
Price
(2)
Fee
Common Stock, par value $.01 per share
112,689
47.985
$5,407,382
$637
(1) The Registrant is registering 45,600 shares of its common stock, reserved for issuance pursuant
to the First City Bank 2000 Stock Option Plan, 25,650 shares reserved for issuance pursuant to the
First City Bank 1997 Stock Option Plan, 11,970 shares reserved for issuance pursuant to the First
City Bank 1989 Stock Option Plan and 29,469 shares reserved for issuance pursuant to The North
American Bank and Trust Company Officers' and Employees' Stock Option Plan.
(2) Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(h)
of the Securities Act of 1933, as amended based on the average of the high and low price on January
24, 2005.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The documents containing the information specified in Part I will be sent or given to
employees as specified by Rule 428(b)(1) of the Securities Act of 1933, as amended (the "Securities
Act"). In accordance with the instructions to Part I of Form S-8, such documents will not be filed
with the SEC either as part of this Registration Statement or as prospectuses or prospectus
supplements pursuant to Rule 424 of the Securities Act. These documents and the documents
incorporated by reference pursuant to Item 3 of Part II of this Registration Statement, taken
together, constitute the prospectus as required by Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
Webster Financial Corporation ("Webster") hereby incorporates by reference into this
registration statement the following documents filed by it with the SEC:
(a)
Webster's annual report on Form 10-K for the fiscal year ended
December 31, 2003 (File No. 001-31486) filed with the SEC on March 15, 2004.
(b)
Webster's quarterly report on Form 10-Q for the quarter ended
March 31, 2004 (File No. 001-31486) filed with the SEC on May 10, 2004.
(c)
Webster's quarterly report on Form 10-Q for the quarter ended
June 30, 2004 (File No. 001-31486) filed with the SEC on August 9, 2004.
(d)
Webster's quarterly report on Form 10-Q for the quarter ended
September 30, 2004 (File No. 001-31486) filed with the SEC on November 9, 2004.
(e)
The description of Webster's common stock, par value $0.01 per
share ("Common Stock"), contained under the heading "Description of Capital
Stock and Comparison of Shareholder Rights" in Webster's registration statement
on Form S-4 (File No. 333-118923) filed with the SEC on September 10, 2004, as
amended.
In addition, all documents and reports filed by Webster subsequent to the date hereof pursuant
to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), prior to the filing of a post-effective amendment that indicates that all
securities offered have been sold or that deregisters all securities remaining unsold, shall be
deemed to be incorporated by reference in this registration statement and to be part hereof from
the date of filing of such documents or reports. Any statement contained in a document
incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or
superseded for purposes of this registration statement to the extent that a statement contained
herein or in any other subsequently filed document, which also is or is deemed to be incorporated
by reference herein, modifies or supersedes such statement. Any such statement so modified or
superseded shall not be deemed, except as so modified or superseded, to constitute a part of this
registration statement.
Item 4. Description of Securities
.
Not applicable.
Item 5. Interests of Named Experts and Counsel
.
Not applicable.
Item 6. Indemnification of Directors and Officers
.
Reference is made to the provisions of Article 6 of Webster's Second Restated Certificate of
Incorporation and the provisions of Article IX of Webster's Bylaws, as amended.
Webster is a Delaware corporation subject to the applicable indemnification provisions of the
General Corporation Law of the State of Delaware (the "Delaware Corporation Law"). Section 145 of
the Delaware Corporation Law provides for the indemnification, under certain circumstances, of
persons who are or were directors, officers, employees or agents of Webster, or are or were serving
at the request of Webster in such a capacity with another business organization or entity, against
expenses, judgments, fines and amounts paid in settlement in actions, suits or proceedings, whether
civil, criminal, administrative, or investigative, brought or threatened against or involving such
persons because of such person's service in any such capacity. In the case of actions brought by
or in the right of Webster, Section 145 provides for indemnification only of expenses, and only
upon a determination by the Court of Chancery or the court in which such action or suit was brought
that, in view of all the circumstances of the case, such person is fairly and reasonably entitled
to indemnity for such expenses.
Article 6 of Webster's Second Restated Certificate of Incorporation provides that no director
will be personally liable to Webster or its stockholders for monetary damages for breach of
fiduciary duty as a director other than liability
•
for any breach of such director's duty of loyalty to Webster or its shareholders,
for acts or omissions not in good faith or which involve intentional misconduct or a
knowing violation of law,
•
for any payment of a dividend or approval of a stock repurchase that is illegal
under Section 174 of the Delaware Corporation Law, or
•
for any transaction from which the director derived an improper personal benefit.
The foregoing indemnity and insurance provisions have the effect of reducing directors' and
officers' exposure to personal liability for actions taken in connection with their respective
positions.
Webster's Bylaws provide for indemnification of directors, officers, trustees, employees and
agents of Webster, and for those serving in such roles with other business organizations or
entities, in the event that such person was or is made a party to (or is threatened to be made a
party to) any civil, criminal, administrative, arbitration or investigative action, suit, or
proceeding (other than an action by or in the right of Webster) by reason of the fact that such
person is or was serving in such a capacity for or on behalf of Webster. Webster will indemnify
any such person against expenses (including attorneys' fees), judgments, fines, penalties and
amounts paid in settlement if such person acted in good faith and in a manner such person
reasonably believed to be in or not opposed to the best interests of Webster, and, with respect to
any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful.
Similarly, Webster will indemnify such persons for expenses reasonably incurred and settlements
reasonably paid in actions, suits, or proceedings brought by or in the right of Webster, if such
person acted in good faith and in a manner such person reasonably believed to be in or not opposed
to the best interests of Webster; provided, however, that no indemnification will be made against
expenses in respect of any claim, issue, or matter as to which such person is adjudged to be liable
to Webster or against amounts paid in settlement unless and only to the extent that there is a
determination made by the appropriate party set forth in the Bylaws that the person to be
indemnified is, in view of all the circumstances of the case, fairly and reasonably entitled to
indemnity for such expenses or amounts paid in settlement. In addition, Webster may purchase and
maintain insurance on behalf of any person who is or was a director, officer, trustee, employee, or
agent of Webster or is acting in such capacity for another business organization or entity at
Webster's request, against any liability
asserted against such person and incurred in such
capacity, or arising out of such person's status as such, whether or not Webster would have the
power or obligation to indemnify him against such liability under the provisions of Article IX of
Webster's Bylaws.
Insofar as indemnification for liabilities arising under the Securities Act may be permitted
to directors, officers and controlling persons of Webster pursuant to the foregoing provisions, or
otherwise, Webster has been advised that in the opinion of the SEC such indemnification is against
public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event
that a claim for indemnification against such liabilities (other than the payment by Webster of
expenses incurred or paid by a director, officer or controlling person of Webster in the successful
defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, Webster will, unless in the opinion of
its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed
in the Securities Act and will be governed by the final adjudication of such issue.
Item 7. Exemption from Registration Claimed
.
Not applicable.
Item 8. Exhibits.
Exhibit
No.
Exhibit
4.1
Specimen common stock certificate (filed as Exhibit 4.1 to the
Corporation's Registration Statement on Form S-3 (File No.
333-81563) filed with the SEC on June 25, 1999 and incorporated
herein by reference).
4.2
Rights Agreement, dated as of February 5, 1996, between the
Corporation and Chemical Mellon Shareholder Services, L.L.C.
(filed as Exhibit 1 to the Corporation's Current Report on Form
8-K filed with the SEC on February 12, 1996 and incorporated
herein by reference).
4.3
Amendment No. 1 to Rights Agreement, entered into as of November
4, 1996, by and between the Corporation and ChaseMellon
Shareholder Services, L.L.C. (filed as an exhibit to the
Corporation's Current Report on Form 8-K filed with the SEC on
November 25, 1996 and incorporated herein by reference).
4.4
Amendment No. 2 to Rights Agreement, entered into as of October
30, 1998, between the Corporation and American Stock Transfer &
Trust Company (filed as Exhibit 1 to the Corporation's Current
Report on Form 8-K filed with the SEC on October 30, 1998 and
incorporated herein by reference).
5
Opinion of Hogan & Hartson L.L.P. as to the validity of the
securities registered hereunder, including the consent of Hogan &
Hartson L.L.P.
23.1
Consent of KPMG LLP.
23.2
Consent of Hogan & Hartson L.L.P. (included in Exhibit 5).
Exhibit
No.
Exhibit
24
Power of Attorney (included on the signature page in Part II of
this Registration Statement).
99.1
First City Bank 2000 Stock Option Plan.
99.2
First City Bank 1997 Stock Option Plan.
99.3
First City Bank 1989 Stock Option Plan.
99.4
The North American Bank and Trust Company Officers' and Employees'
Stock Option Plan.
SIGNATURES
Registrant.
Pursuant to the requirements of the Securities Act of 1933, the Registrant
certified that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the city of Waterbury, state of Connecticut, on
December 30, 2004.
WEBSTER FINANCIAL CORPORATION
By:
/s/ James C. Smith
James C. Smith
Chairman and Chief Executive Officer
POWER OF ATTORNEY
Each person whose signature appears below appoints James C. Smith or Harriet Munrett Wolfe,
jointly and severally, each in his or her own capacity, as true and lawful attorneys-in-fact, with
full power or substitution in such person's name, place and stead, in any and all capacities to
sign any amendments to this Registration Statement on Form S-8 and to file the same, with all
exhibits thereto, and other documents in connection therewith, with the Securities and Exchange
Commission, hereby ratifying and confirming all that said attorney-in-fact, or their substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.
This Power of Attorney is valid as of its execution, until its withdrawal.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in the capacities indicated below, on this 30
th
day
of December, 2004.
Signature
Title
/s/ James C. Smith
Chairman and Chief Executive Officer and Director
James C. Smith
/s/ William J. Healy
Executive Vice President and Chief Financial Officer
William J. Healy
(Principal Financial Officer and Principal Accounting Officer)
/s/ Joel S. Becker
Director
Joel S. Becker
/s/ William T. Bromage
Director
William T. Bromage
/s/ George T. Carpenter
Director
George T. Carpenter
Signature
Title
/s/ John J. Crawford
Director
John J. Crawford
/s/ Robert A. Finkenzeller
Director
Robert A. Finkenzeller
/s/ Roger A. Gelfenbien
Director
Roger A. Gelfenbien
Director
C. Michael Jacobi
/s/ Laurence C. Morse
Director
Laurence C. Morse
Director
Robert F. Stoico
Exhibit Index
Exhibit
No.
Exhibit
4.1
Specimen common stock certificate (filed as Exhibit 4.1 to the
Corporation's Registration Statement on Form S-3 (File No.
333-81563) filed with the SEC on June 25, 1999 and incorporated
herein by reference).
4.2
Rights Agreement, dated as of February 5, 1996, between the
Corporation and Chemical Mellon Shareholder Services, L.L.C.
(filed as Exhibit 1 to the Corporation's Current Report on Form
8-K filed with the SEC on February 12, 1996 and incorporated
herein by reference).
4.3
Amendment No. 1 to Rights Agreement, entered into as of November
4, 1996, by and between the Corporation and ChaseMellon
Shareholder Services, L.L.C. (filed as an exhibit to the
Corporation's Current Report on Form 8-K filed with the SEC on
November 25, 1996 and incorporated herein by reference).
4.4
Amendment No. 2 to Rights Agreement, entered into as of October
30, 1998, between the Corporation and American Stock Transfer &
Trust Company (filed as Exhibit 1 to the Corporation's Current
Report on Form 8-K filed with the SEC on October 30, 1998 and
incorporated herein by reference).
5
Opinion of Hogan & Hartson L.L.P. as to the validity of the
securities registered hereunder, including the consent of Hogan &
Hartson L.L.P.
23.1
Consent of KPMG LLP.
23.2
Consent of Hogan & Hartson L.L.P. (included in Exhibit 5).
24
Power of Attorney (included on the signature page in Part II of
this Registration Statement).
99.1
First City Bank 2000 Stock Option Plan.
99.2
First City Bank 1997 Stock Option Plan.
99.3
First City Bank 1989 Stock Option Plan.
99.4
The North American Bank and Trust Company Officers and Employees
Stock Option Plan.