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<div align="center"><font face="Times New Roman" size="4">SECURITIES AND EXCHANGE COMMISSION</font><br>
<font face="Times New Roman" size="2">Washington, D.C. 20549</font></div>
<br>
<p align="center"><font face="Times New Roman" size="4"><b>FORM 8-K<br>CURRENT REPORT</b></font></p>
<p align="center"><font face="Times New Roman" size="2"><b>Pursuant to Section 13 or 15(d) of the<br>
Securities Exchange Act of 1934</b></font></p>
<p align="center"><font face="Times New Roman" size="2">Date of Report (Date of earliest event reported): January 22, 2004</font></p>
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<td valign="top" align="center"><font face="Times New Roman" size="4"><b>WEBSTER FINANCIAL CORPORATION.</b></font></td>
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<td valign="top" align="center"><hr size="1" noshade color="#000000" width="44%"></td>
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<td valign="top" align="center"><font face="Times New Roman" size="2">(Exact name of registrant as specified in its charter)</font></td>
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<br>
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<td valign="top" width="33%" align="center"><font face="Times New Roman" size="2"><b>Delaware</b></font></td>
<td valign="top" width="33%" align="center"><font face="Times New Roman" size="2"><b>001-31486</b></font></td>
<td valign="top" width="33%" align="center"><font face="Times New Roman" size="2"><b>06-1187536</b></font></td>
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<td valign="top" align="center"><hr size="1" noshade color="#000000" width="65%"></td>
<td valign="top" align="center"><hr size="1" noshade color="#000000" width="50%"></td>
<td valign="top" align="center"><hr size="1" noshade color="#000000" width="65%"></td>
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<td valign="top" align="center"><font face="Times New Roman" size="2">(State or other jurisdiction<br>of incorporation)</font></td>
<td valign="top" align="center"><font face="Times New Roman" size="2">(Commission<br>File Number)</font></td>
<td valign="top" align="center"><font face="Times New Roman" size="2">(IRS Employer<br>Identification No.)</font></td>
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<td valign="top" align="center"><font face="Times New Roman" size="3"><b>Webster Plaza, Waterbury, Connecticut 06702</b></font></td>
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<td valign="top" align="center"><font face="Times New Roman" size="2">(Address of principal executive offices)</font></td>
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<p align="center"><font face="Times New Roman" size="2">Registrant&#146;s telephone number, including area code:<b>&#160;<u>(203) 578-2476</u></b></font></p>
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<td valign="top" align="center"><font face="Times New Roman" size="2"><b>Not Applicable</b></font></td>
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<td valign="top" align="center"><font face="Times New Roman" size="2">(Former name or former address,
 if changed since last report)</font></td>
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<p><font face="Times New Roman" size="2"><b>Item 7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Financial Statements and Exhibits</u></b></font></p>
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<td width="4%" valign="top"><font face="Times New Roman" size="2">(a)</font></td>
<td valign="top"><font face="Times New Roman" size="2">Not applicable.</font></td>
<td valign="top" width="80%"><font face="Times New Roman" size="2">&#160;</font></td>
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<td valign="top"><font face="Times New Roman" size="2">(b)</font></td>
<td valign="top"><font face="Times New Roman" size="2">Not applicable.</font></td>
<td valign="top"><font face="Times New Roman" size="2">&#160;</font></td>
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<td valign="top"><font face="Times New Roman" size="2">(c)</font></td>
<td valign="top"><font face="Times New Roman" size="2">Exhibits.</font></td>
<td valign="top"><font face="Times New Roman" size="2">&#160;</font></td>
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<td valign="top"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top"><font face="Times New Roman" size="2"><u>Exhibit No.</u></font></td>
<td valign="top"><font face="Times New Roman" size="2"><u>Description</u></font></td>
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<td valign="top"><font face="Times New Roman" size="3">&#160;</font></td>
<td valign="top"><font face="Times New Roman" size="2">99.1</font></td>
<td valign="top"><font face="Times New Roman" size="2">Transcript of fourth quarter earnings conference call held on January 22, 2004.</font></td>
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<p><font face="Times New Roman" size="2"><b>Item 12.&#160;&#160;&#160;&#160;&#160;&#160;<u>Result of Operations and Financial Condition</u></b></font></p>
<p align="justify"><font face="Times New Roman" size="2">A conference call covering Webster&#146;s 2003 fourth quarter earnings announcement was held Thursday, January 22, 2004.  A replay of the call can be heard through Webster&#146;s investor relations website at www.wbst.com, or by calling 1-888-286-8010 (Access Code: 77175143). A transcript of that conference call is attached hereto as Exhibit 99.1.</font></p>
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<p align="center"><font face="Times New Roman" size="2"><b>SIGNATURES</b></font></p>
<p align="left"><font face="Times New Roman" size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Pursuant
 to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report
 to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>
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<td valign="top" width="40%"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top" nowrap><font face="Times New Roman" size="2"><u>WEBSTER FINANCIAL CORPORATION</u></font></td>
<td valign="top"><font face="Times New Roman" size="2">&#160;</font></td>
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<td valign="top"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top"><font face="Times New Roman" size="2">(Registrant)</font></td>
<td valign="top"><font face="Times New Roman" size="2">&#160;</font></td>
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<br><br>
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<td valign="top" width="40%"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top"><font face="Times New Roman" size="2"><u>/s/ William J. Healy&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</u>
<br>William J. Healy
<br>Executive Vice President and<br>
Chief Financial Officer<br></font></td>
<td valign="top"><font face="Times New Roman" size="2">&#160;</font></td>
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<p align="left"><font face="Times New Roman" size="2">Date: January 27, 2004</font></p>
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<p align="center"><font face="Times New Roman" size="2"><b>EXHIBIT INDEX</b></font></p>
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<td valign="top"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top"><font face="Times New Roman" size="2"><u>Exhibit No.</u></font></td>
<td width="80%" valign="top"><font face="Times New Roman" size="3"><u>Description</u></font></td>
</tr>
<tr>
<td valign="top"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top"><font face="Times New Roman" size="2">99.1</font></td>
<td valign="top"><font face="Times New Roman" size="2">Transcript of fourth quarter earnings conference call held on, January 22, 2004</font></td>
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 22, 2004
WEBSTER FINANCIAL CORPORATION.
(Exact name of registrant as specified in its charter)
Delaware
001-31486
06-1187536
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
Webster Plaza, Waterbury, Connecticut 06702
(Address of principal executive offices)
Registrant's telephone number, including area code:
(203) 578-2476
Not Applicable
(Former name or former address,
 if changed since last report)
Item 7.
Financial Statements and Exhibits
(a)
Not applicable.
(b)
Not applicable.
(c)
Exhibits.
Exhibit No.
Description
99.1
Transcript of fourth quarter earnings conference call held on January 22, 2004.
Item 12.
Result of Operations and Financial Condition
A conference call covering Webster's 2003 fourth quarter earnings announcement was held Thursday, January 22, 2004.  A replay of the call can be heard through Webster's investor relations website at www.wbst.com, or by calling 1-888-286-8010 (Access Code: 77175143). A transcript of that conference call is attached hereto as Exhibit 99.1.
SIGNATURES
Pursuant
 to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report
 to be signed on its behalf by the undersigned hereunto duly authorized.
WEBSTER FINANCIAL CORPORATION
(Registrant)
/s/ William J. Healy
William J. Healy
Executive Vice President and
Chief Financial Officer
Date: January 27, 2004
EXHIBIT INDEX
Exhibit No.
Description
99.1
Transcript of fourth quarter earnings conference call held on, January 22, 2004