WATERBURY, Conn., May 22, 2015 /PRNewswire/ -- Webster Financial Corporation (NYSE: WBS ), the holding company for Webster Bank, N.A. (the "Company"), provided notice to holders today that it is exercising its option to convert its issued and outstanding shares of 8.50% Series A Non-Cumulative Perpetual Convertible Preferred Stock (CUSIP: 947890307) (the "Preferred Stock") into common stock of the Company, par value $0.01 ("Common Stock"). The conversion will be effective June 1, 2015 (the "Mandatory Conversion Date").