M&T Bank buying People s United in $7 6B all-stock deal
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Here are 6 things consumers need to know about M&T Bank Corp buying Bridgeport-based People s United Bank
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People’s United Bank sold to M&T for $7.6B
Updated Feb 23, 2021;
Posted Feb 23, 2021
The People s United branch on Elm Street in West Springfield, Feb. 23, 2021. (Jim Kinney/ The Republican)
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The deal is expected to close in the fourth quarter of 2021.
“In People’s United, we have found a partner with an equally long history of serving and supporting customers, businesses and communities,” said René Jones, chairman and chief executive officer of M&T, who will lead the combined company. “Combining our common legacies and our complementary footprints will strengthen our ability to serve our communities and customers, and provide solutions that make a difference in people’s lives. I am incredibly excited about this opportunity and look forward to welcoming new customers and team members to our M&T family.”