Guilford Savings and Eastern Connecticut Savings Announce Merger
The merger was approved unanimously by both boards and will create a bank with $1.4 billion in combined assets and 25,000 clients.
PeoplesBank, Cornerstone Bank to Merge
A significant player in the central Connecticut banking market and a prominent Worcester-area lender say they plan to merge holding companies, the latest pair of mutual banks to combine using this increasingly popular method.
Ion Bank to Join with New Jersey Mutual Lender
Naugatuck’s Ion Bank has agreed to merge with New Jersey-based mutual bank NVE Bank, making the second New Jersey bank Ion as acquired in two years.
Three Co-Owned CT Banks Join Together
Three co-owned banks in Litchfield County are becoming one bank.
Three Sister Litchfield County Banks Plan Merger
Three small community banks in western Connecticut plan to merge next year and create a bank with nearly $1 billion in assets.
Steady Pace of Bank Mergers a Product of Rising Costs, Interest Rates
After a seemingly quiet couple of years, bank mergers and acquisitions have picked up in Connecticut. And lenders are challenged to deal with the disruptions they cause in customers’ lives.
People’s United to Close 12 More Branches – in Massachusetts
People’s United Bank will close 12 branches in western and central Massachusetts as part of its branch consolidation following its acquisition of United Bank.
People’s United to Close 18 Connecticut Branches
People’s United Bank has announced the closing of 18 Connecticut branches.
People’s United Completes Acquisition of United Bank
Bridgeport-based People’s United Financial Inc., the holding company for People’s United Bank, acquired United Bank and its holding company, United Financial Bancorp Inc., in an all-stock transaction on Nov. 1.
United Bank’s Shareholders Approve People’s United Merger
The merger between Hartford-based United Bank and Bridgeport-based People’s United Bank could happen as early as next week now that United’s shareholders have approved the proposal.
Putnam Bank to Merge with Rhode Island Lender
Putnam-based Putnam Bank has agreed to merge with Centreville Bank, a Rhode Island-chartered savings bank.
bankHometown Completes Merger with Millbury Savings Bank
bankHometown has completed its merger with Millbury Savings Bank. Millbury Savings Bank President and CEO Robert J. Morton has been appointed president and CEO of the combined entity.
People’s United Won’t Swear Off Future Mergers
Changing dynamics and accounting standards will not change People’s United Bank’s strategy around mergers and acquisitions, bank executives said during the bank’s third quarter earnings conference call on Thursday.
United and People’s United Face Lawsuits as Shareholders Set to Meet on Merger
United Bank and People’s United Bank have moved closer to a proposed merger, but not without several legal complaints looking to delay the transaction.
Liberty Bank Completes Purchase of Simsbury Bank & Trust
Connecticut’s oldest bank has finished its acquisition of the $480 million-asset Simsbury Bank & Trust Co.
Western Connecticut Credit Unions Plan Merger
Two western Connecticut credit unions plan to merge in a move that could be completed next spring.
United Bank Rejected Bigger Offer from People’s United Last Year
People’s United Bank’s latest acquisition target, the Hartford-based United Bank, originally rejected a much higher offer from Bridgeport-based People’s when it first began shopping for a buyer last year.
Simsbury Shareholders OK Liberty Bank Merger
Simsbury Bank shareholders overwhelmingly approved a proposed merger on Wednesday between that institution and Middletown-based mutual savings bank Liberty Bank.
Why People’s United Only Paid $327M for Belmont Savings Bank
Both Belmont Savings Bank and Farmington Bank hold roughly $3 billion in assets. So why did People’s United Pay so much less for Belmont?
Liberty Bank Closes On Acquisition of Naugatuck Valley Financial Corp.
Liberty Bank in Middletown recently closed on its acquisition of Naugatuck Valley Financial Corp. and its subsidiary bank Naugatuck Valley Savings and Loan. The merger closed at the end of business last Friday, Jan. 15, and it brings Liberty Bank up to $4.5 billion in...
