People's United Bank Company History Timeline

(301 Jobs)
1955

In 1955, the company acquired Southport Savings Bank.

1981

In 1981, the bank became the first in the country to provide a telephone bill paying service.

In 1981, the company acquired the assets of First Stamford Bank and Trust Company.

1982

In 1982, the company acquired Guardian Federal Savings and Loan Association of Bridgeport.

1983

In 1983, the company acquired People's Bank of Vernon and was renamed People's Bank.

1985

In 1985, the company began issuing credit cards.

1986

In 1986, the company acquired First Federal Savings Bank.

1991

In 1991, the company acquired the deposits of Hartford-based Landmark Bank.

1998

In 1998, the company acquired Norwich Financial Corporation for $164 million in cash.

2004

In 2004, the bank sold its credit card division to the Royal Bank of Scotland at a premium of $360 million.

2008

On January 1, 2008, the bank acquired Chittenden Corporation for $1.9 billion.

In February 2008, a data storage company, Archive America, lost backup tapes in transit containing the "names, birthdays, Social Security numbers and other information" of customers of the bank and of The Bank of New York Mellon.

Also in 2008, the bank acquired Ocean Bank of New Hampshire, Maine Bank & Trust, Merrill Bank, Flagship Bank, and Bank of Western Massachusetts.

2010

In February 2010, the company acquired Financial Federal Corporation, an equipment financing company.

In December 2010, the company acquired LSB Corporation and Smithtown Bancorp.

2016

In November 2016, the bank was selected to manage the core bank accounts for the commonwealth of Massachusetts.

2018

In June 2018, People's United Bank agreed to purchase Farmington Bank in a deal valued at $544 million.

Founded
1842
Company Founded
Headquarters
Bridgeport, CT
Company Headquarter

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