More than a year after announcing plans to acquire Connecticut-based People’s United Bank, the CEO of Buffalo-based M&T Bank remains committed to the merger and to maintaining a presence at People’s United’s Connecticut headquarters.
With M&T Bank and People’s United Bank still waiting for federal regulatory approval one year after announcing merger plans, the banks have extended their merger agreement for another three months.
Buffalo-based M&T Bank has joined the growing list of banks reducing or eliminating customer fees for overdrafts and non-sufficient funds.
Wilmington Trust, M&T Bank’s wealth management division, has expanded its Boston team with six new hires.
One of the biggest bank mergers in the Northeast this year is one step closer to becoming reality after key state regulators signed off on the deal.
M&T Bank will have at least 1,000 employees based out of People’s United Bank’s Bridgeport, Connecticut, location by early 2023, the bank said last week after receiving criticism for plans to terminate nearly 750 Connecticut jobs as part of its acquisition of People’s United.
M&T Bank will eliminate more than 40 Massachusetts jobs after acquiring Connecticut-based People’s United Bank later this year.
M&T Bank’s acquisition of Connecticut-based People’s United Bank will result in nearly 750 layoffs in Connecticut that will begin in October and continue for the next seven months, according to filing with state officials there.
In its first full quarter since announcing in late February its sale to Buffalo-based M&T Bank, People’s United saw earnings almost double compared to the same quarter last year.
The mergers and acquisitions transforming the Massachusetts banking industry this year will also have a significant effect on another group: the community development organizations that partner with banks on affordable housing and lending programs.
The merger of Connecticut-based People’s United Bank into M&T Bank moved a step closer to completion yesterday as the shareholders of both banks’ parent companies approved the deal in special meetings, the banks said in a statement.
Connecticut-based People’s United Bank and M&T Bank face 12 lawsuits challenging their proposed merger and have disclosed additional information about the deal in response to the legal actions.
Two People’s United Bank executives will receive multi-million-dollar payments to ensure that they do not compete with M&T Bank for three years after the merger takes place.
While M&T’s entry into the market will change the state’s banking landscape, analysts believe the well-run institution will not disrupt the local industry – and it could even open a few opportunities for competitors.
Buffalo-based M&T Bank will acquire People’s United Bank in a $7.6 billion deal that M&T executives say is more about growth opportunities than cutting expenses.
The parent company of Buffalo-based M&T Bank has agreed to acquire Connecticut-based People’s United Bank for a deal valued at $7.6 billion.
The developer of a 138-unit luxury condo tower in Boston’s South End says presales activity has been strong ahead of its scheduled completion this fall.
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
Financial institutions across the commonwealth kick off donation campaigns for food pantries and homeless shelters this holiday season.
JPMorgan Chase flipped the Boston banking market on its head when it announced earlier this year that it would be opening 50 retail branches in the city and its surrounding areas. Now, another big bank may be ready to expand in the Bay State as well.
