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People's United Bank history
People's United Bank company history timeline
The company was founded in 1842 as Bridgeport Savings Bank in Bridgeport, Connecticut.
In 1955, the company acquired Southport Savings Bank.
In 1981, the bank became the first in the country to provide a telephone bill paying service.
In 1982, the company acquired Guardian Federal Savings and Loan Association of Bridgeport.
After acquiring People's Bank of Vermont in 1983, the company was renamed People's Bank.
In 1986, the company acquired First Federal Savings Bank.
In 1991, the company acquired the deposits of Hartford-based Landmark Bank.
In 1998, the company acquired Norwich Financial Corporation for $164 million in cash.
On June 7, 2007, the bank changed its name to People's United Bank.
On January 1, 2008, the bank acquired Chittenden Corporation for $1.9 billion.
On November 22, 2010, the bank opened its first location in Boston.
In December 2010, the company acquired LSB Corporation and Smithtown Bancorp.
In July 2011, the company acquired Danvers Bancorp.
In 2012, the company acquired 57 branches in the greater New York metro area from Royal Bank of Scotland, including 53 branches in Stop & Shop supermarkets.
In October 2015, the company's insurance agency subsidiary acquired Kesten-Brown Insurance.
In April 2017, the company acquired Suffolk Bancorp and in July, it acquired LEAF Commercial Capital.
In June 2018, People's United Bank agreed to purchase Farmington Bank in a deal valued at $544 million.
On February 22, 2021, M&T Bank, based in Buffalo, New York, announced an agreement to acquire People's United Bank in an all-stock transaction valuing at approximately $7.6 billion.
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People's United Bank competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Bank of the West | 1874 | $2.8B | 9,261 | - |
| TCF Financial | 1923 | $2.1B | 10,000 | - |
| Belmont Savings Bank | 2009 | $103.3M | 133 | - |
| Danvers Bancorp | 1850 | $14.0M | 50 | 3 |
| First Connecticut Ban | 1851 | $112.0M | 375 | - |
| LSB Corp | 1868 | $136.8M | 100 | - |
| Fifth Third Bank | 1858 | $7.7T | 19,846 | 1,005 |
| Bank of America | 1998 | $85.5B | 200,000 | 5,820 |
| U.S. Bank | 1863 | $202.1M | 70,000 | 1,700 |
| Wells Fargo | 1852 | $2.4B | 268,531 | 1,592 |
People's United Bank history FAQs
Zippia gives an in-depth look into the details of People's United Bank, including salaries, political affiliations, employee data, and more, in order to inform job seekers about People's United Bank. The employee data is based on information from people who have self-reported their past or current employments at People's United Bank. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by People's United Bank. The data presented on this page does not represent the view of People's United Bank and its employees or that of Zippia.
People's United Bank may also be known as or be related to PEOPLE S UNITED FINANCIAL INC., People's United Bank, People's United Bank, National Association, People's United Financial, People's United Financial Inc and People's United Financial, Inc.