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People's United Bank acquisition still waiting on Federal Reserve approval

Buffalo’s M&T Bank hoped to complete its $7.6 billion acquisition of Bridgeport-based People’s United Bank in the fourth quarter of 2021, but as of this week the partners are still waiting on approval from the Federal Reserve, People’s United officials disclosed Thursday.

In a statement released alongside People’s United’s fourth-quarter and full-year earnings, executives acknowledged the delay but did not say why the review seems to be stalled. ....

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