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.
Connecticut’s oldest bank has finished its acquisition of the $480 million-asset Simsbury Bank & Trust Co.
Two western Connecticut credit unions plan to merge in a move that could be completed next spring.
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.
Two more small credit unions in Connecticut are merging.
William McGurk, one of the largest private shareholders in United Bank, has been outspoken about his disappointment in People’s United Bank’s planned purchase of United. But he faces a difficult path to blocking the merger.
Berkshire Bank has completed its acquisition of the parent company of Willimantic, Connecticut-based Savings Institute Bank & Trust, a deal first announced last December and valued at $180 million.
The largest private shareholder of United Financial Bancorp stock is criticizing the planned acquisition of the company by People’s United Bank and urging fellow shareholders to oppose it.
Hometown Financial Group continues to shop aggressively as it announced today that it will merge with and absorb Millbury Savings Bank into its subsidiary, Oxford-based bankHometown.
Companies across a variety of industries are expecting larger deals and a pickup in merger and acquisitions in 2018 – but in the banking world, experts predict the opposite.
Owners of mid-sized U.S. companies are more optimistic about future economic conditions than they were before the election, according to a recent survey out of Citizens Commercial Banking.
