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Out-of-state banks from Massachusetts and New York are making big moves in Connecticut that will reshape the competitive landscape, and they’re using different strategies to grow their local footprints. Upstate New York’s M&T Bank, with $142.2 billion in assets, is making the biggest splash with its $7.6 billion planned acquisition of Bridgeport-based People’s United Bank, a deal that when completed will give it 183 branches and $27.8 billion in deposits in Connecticut alone. (Currently M&T has just nine branches in the state.) On the other hand, M&T’s neighbor in Norwich, N.Y., NBT Bank, is pursuing a de novo strategy in Connecticut, dipping its toe in the waters with new branches in Glastonbury and potentially West Hartford.

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