# Harold Webster Smith

> Harold Webster Smith (1911-1997) founded First Federal Savings of Waterbury, the predecessor of Webster Bank, in 1935 at age 24 with $25,000 raised from family and friends. He led it as CEO until 1987 and chairman until 1995, building a banking career around financing homes and serving the Waterbury community.

- **Role:** Banker and bank founder
- **Organizations:** First Federal Savings and Loan Association of Waterbury, Webster Financial Corporation, Webster Bank, U.S. Treasury Department, Connecticut League of Savings Institutions, U.S. League of Savings Institutions
- **From:** Waterbury, United States
- **Nationality:** American
- **Education:** Crosby High School, Undergraduate degree, cum laude; subject not specified in the cited biography, Dartmouth College, Postgraduate study; completed degree not established, Tuck School of Business, Dartmouth College
- **Known for:** Founded the institution that became Webster Bank during the Great Depression., Served as chief executive for 52 years, from 1935 to 1987., Built a thrift focused on financing home purchases and construction.

## Career timeline

- **1933** — Graduated from Dartmouth cum laude; subsequently pursued postgraduate study and worked for the U.S. Treasury Department.
- **1935** — Founded First Federal Savings of Waterbury on October 11 at age 24; initially its sole employee.
- **1938** — Bank assets reached $1 million.
- **1959** — First branch opened in Watertown.
- **1969** — A second branch followed.
- **1978** — Bank invested in new downtown Waterbury headquarters, later called Webster Plaza.
- **1986** — The institution converted to stock ownership and formed Webster Financial Corporation.
- **1987** — Retired as CEO; succeeded by son James C. Smith and continued as chairman.
- **1995** — Retired as chairman; the bank adopted the Webster name in his honor.
- **1997** — Died October 24; had continued as chairman emeritus.

## Achievements

- Founded the institution that became Webster Bank during the Great Depression.
- Served as chief executive for 52 years, from 1935 to 1987.
- Built a thrift focused on financing home purchases and construction.
- Served as president of the Connecticut League of Savings Institutions and director of the U.S. League of Savings Institutions.

## Latest updates

- **2026-02** — Legacy update: James C. Smith, chairman of the Harold Webster Smith Foundation, supported Waterbury Land Bank funding in Connecticut legislative testimony; described the foundation as its inaugural funder.
- **2025-10** — Legacy update: Webster marked the 90th anniversary of Smith’s October 11, 1935 founding.
- **2025-10** — Legacy update: the Waterbury Regional Chamber announced the 27th annual Harold Webster Smith Awards.

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Profile page: https://yespress.io/harold-webster-smith
Published by YesPress — https://yespress.io
Last updated: 2026-10-22