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Share this article Share this article BUFFALO, N.Y. and BRIDGEPORT, Conn., Feb. 22, 2021 /PRNewswire/  M&T Bank Corporation (NYSE: MTB) ( M&T ) and People s United Financial, Inc. (NASDAQ: PBCT) ( People s United ) announced today that they have entered into a definitive agreement under which M&T will acquire People s United in an all-stock transaction. The combined company will create a diversified, community-focused banking franchise with approximately $200 billion in assets and a network of more than 1,100 branches and over 2,000 ATMs that spans 12 states from Maine to Virginia and the District of Columbia. The combined franchise will operate across some of the most populated and attractive banking markets in the U.S. As part of the transaction, People s United s current headquarters in Bridgeport, Connecticut will become the New England regional headquarters for M&T, further strengthening the combined company s commitment to Connecticut and the region.

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