M&T Bank

M&T Bank Acquires Connecticut-Based People's United

NBC Connecticut

M&T Bank Corp. has completed its acquisition of People’s United Financial Inc. in a deal worth $8.3 billion, M&T announced Saturday.

People’s United’s headquarters in Bridgeport, Connecticut is now Buffalo-based M&T’s New England regional headquarters.

The combined company has approximately $200 billion in assets and a network of more than 1,000 branches in 12 states from Maine to Virginia and the District of Columbia. It employs more than 22,000 people.

Clients of People’s United will retain access to current branches while they are being converted to M&T’s.

M&T had been active in acquisitions, but People’s United was its first major deal in almost six years.

Copyright AP - Associated Press
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