People’s United to Close 12 Massachusetts Branches
People’s United Bank will close 12 branches in western and central Massachusetts, including three in Worcester, as part of its branch consolidation following its acquisition of United Bank.
Why People’s United Paid Only $327M for Belmont Savings Bank
The parent company of People’s United Bank completed its acquisition of the parent company of Farmington Bank in an all-stock transaction valued at $544 million nearly two months ago. Last week, People’s United announced it will buy the parent company of Belmont Savings Bank in an all-stock transaction valued at $327 million. Given that both banks hold about $3 billion in assets, what made the Farmington deal so much more lucrative than the Belmont deal?
Group Comes Out in Opposition to People’s United/Farmington Deal
A nongovernmental organization focused on fairness in the financial services industry has come out against People’s United Bank’s proposed acquisition of the parent company of Farmington Bank.
Farmington Bank Parent Reports Solid Profits in Q2 Ahead of Acquisitions
The parent of Farmington Bank had solid profits in the second quarter as it prepares to be acquired.
People’s United Acquisition a Preview of What’s to Come
People’s United Financial’s $544 million purchase of the parent company of Farmington Bank is one of this year’s largest bank deals in the U.S. But it may not be the last.
People’s United Bank to Acquire Farmington Bank
The largest state-chartered bank in Connecticut has just gobbled up one of the state’s largest community banks.
