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OGE Energy Corp reports first quarter results

OGE Energy Corp reports first quarter results
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Tag der gewaltfreien Erziehung

Tag der gewaltfreien Erziehung
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People s United reports 1Q21 net income of $144 5 million, 33 cents per share

Announces Common Dividend Increase for 28th Consecutive Year Announced merger with M&T Bank Corporation, which is expected to close in the fourth quarter of 2021. Sustained excellent asset quality as evidenced by net loan charge-offs to average total loans of 12 basis points, and provision for credit losses resulting in a net benefit of $13.6 million. Maintained strong deposit inflows as period-end balances increased $1.3 billion or three percent linked-quarter. Reached agreement with Stop & Shop on the timing of the exit from all New York in-store branch and ATM locations, which will begin in the third quarter of 2021 with a full exit occurring over four quarters.

People s United Financial Reports First Quarter Net Income of $144 5 Million, or $0 33 per Common Share

1See Non-GAAP Financial Measures and Reconciliation to GAAP. Our first quarter results marked a solid start to the year and further highlighted the strengths of the franchise, said Jack Barnes, Chairman and Chief Executive Officer. In February, we announced the merger with M&T, a like-minded partner that has a similar culture, approach to service, complementary offerings, and minimal geographic overlap. This transaction will bring together two high-performing and well-respected institutions to create a leading U.S. super regional bank. The combined company will provide customers greater access to branches, expert bankers, innovative solutions, and enhanced digital capabilities. We are excited about the opportunities ahead and building upon the legacy forged by People s United over 178 years. Importantly, as we work towards the close of the merger, our focus remains steadfast on delivering value to customers, supporting communities, and caring for colleagues.

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