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Read / Add Comments People’s United Financial Inc. and all of its stock is being sold for $7.6 billion to M&T Bank Corp. All together, M&T plus People’s, there will be 1,100 branches and more than 2,000 ATMs across 12 states, M&T said in an announcement. The combined banks have $200 billion in assets. The purchase-and-sale agreement was entered into on Friday, Feb. 19, and the acquisition is expected to close in the fourth quarter of 2021. People’s United’s headquarters in Bridgeport, Connecticut, will become the New England regional headquarters for M&T. Representatives for M&T said they were interested in buying People’s United because it is a “like-minded partner.”

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