Colonnade advises Webster Financial on its sale of Budget Installment Corporation to Texas Capital Bancshares, Inc.

Colonnade advises Webster Financial on its sale of Budget Installment Corporation to Texas Capital Bancshares, Inc.

In November 2009, Webster Financial Corporation (NYSE: WBS) of Waterbury, Connecticut completed the sale of its insurance premium finance subsidiary, Budget Installment Corporation, to Texas Capital Bancshares, Inc. (NASDAQ: TCBI) of Dallas, Texas. Terms of the transaction were not disclosed. Texas Capital Bancshares owns BankDirect Capital Finance, a leading insurance premium finance company in the U.S.

Colonnade Securities LLC served as exclusive financial advisor to Webster Financial and Budget on the transaction.