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Few branches to close in People's United takeover: official | Hartford Business Journal

By Zachary F. Vasile, Journal Inquirer
Officials with Buffalo’s M&T Bank now the presumptive buyer of Bridgeport-based People’s United Bank say layoffs and branch consolidations are not a major feature of their plan to combine the two lenders.
During a conference call with analysts Monday, M&T CFO Darren King said projected merger-related savings of $330 million will come mainly from new operational efficiencies, not rationalization of the chains’ respective brick-and-mortar retail banking networks.
“There might be some overlap in some of the geographies with customer-facing folks, but what we really found was not a great degree of overlap in the customer bases,” King said. “And so because of that we don’t anticipate any changes, to speak of, to the folks that talk to customers. As we go into this, our No. 1 priority is protecting those relationships.” ....

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