HOUSTON, Dec. 18, 2007 (PRIME NEWSWIRE) -- Cardtronics, Inc. (Nasdaq:CATM) announced today that it has entered into an agreement with Webster Financial Corporation's wholly-owned subsidiary, Webster Bank, National Association, to place its brand on 158 Cardtronics-owned and operated ATMs located in select Walgreens drugstore locations in Massachusetts, Rhode Island and Connecticut. Approximately 150 of the new ATMs will be located in Webster's Massachusetts and Rhode Island region. Branding of these 158 ATMs will start in January and be completed before the end of the first quarter of 2008.
Webster will not charge its account-holding customers fee withdrawals for using these new ATMs.
"Webster continues to find a way to provide our customers better convenience and access to our services," stated Webster Chairman and Chief Executive Officer James C. Smith. "This branding agreement is an excellent complement to Webster's de novo branch expansion program and establishes another distribution platform for our future growth throughout Rhode Island and into the Boston market."
With the completion of this ATM branding program coupled with the bank's plans for continuing de novo strategies, Webster expects to have more than 500 ATMs operating in its footprint by the 2008 second quarter.
"This branding agreement is tremendous benefit to Webster and its customers," stated Keith Myers, EVP Financial Services at Cardtronics. "Webster can solidify its position in these markets while providing even greater convenience and access to more of its customers, all without the capital outlays and operational challenges of more traditional ATM placements. It's a win-win situation."
Headquartered in Houston, Texas, Cardtronics (Nasdaq:CATM) is the world's largest owner/operator of ATMs with approximately 31,600 ATMs including approximately 2,000 ATMs in the U.K. and 1,000 ATMs in Mexico. Major merchant-clients include 7-Eleven(r), A&P(r), Albertson's(r), Hess Corporation(r), Barnes & Noble(r) College Bookstores, BP(r) Amoco, Chevron(r), Costco(r), CVS(r)/pharmacy, ExxonMobil(r), Duane Reade(r), Rite Aid(r), Sunoco(r), Target(r) and Walgreens(r). Cardtronics also works closely with financial institutions across the United States to brand Cardtronics-owned ATMs at these major merchant locations, enabling financial institutions to provide convenient surcharge-free cash access for their customers. For more information about Cardtronics, please visit http://www.cardtronics.com/.
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Webster Financial Corporation is the holding company for Webster Bank, National Association and Webster Insurance. With $16.8 billion in assets, Webster provides business and consumer banking, mortgage, insurance, financial planning, trust and investment services through 179 banking offices, 339 ATMs, telephone banking and the Internet. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation, the insurance premium finance company Budget Installment Corp., Center Capital Corporation, an equipment finance company headquartered in Farmington, Connecticut and provides health savings account trustee and administrative services through HSA Bank, a division of Webster Bank.
For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websteronline.com.