People s United Bank - M&A Summary, Ownership, and Business Overview

Financial ServicesCompany

People s United Bank M&A Summary

People s United Bank has acquired 13 companies of its own, including 2 in the last 5 years. It has also divested 2 assets.

People s United Bank’s largest acquisition to date was in 2008, when it acquired Chittenden for $1.9B. It’s largest disclosed sale occurred in 2004, when it sold People s Bank Credit Card Operations to Citizens Financial Group for $2.4B. People s United Bank has acquired in 6 different US states. The Company’s most targeted sectors include financial services (93%) and information technology (8%).

People s United Bank Ownership

Who owns People s United Bank?

People s United Bank is owned by M&T Bank. It was acquired on February 22, 2021.

People s United Bank Business Overview

Where is People s United Bank headquartered?

People s United Bank is headquartered in Bridgeport, Connecticut.

What is People s United Bank’s revenue?

People s United Bank disclosed revenue of 1,843M USD for 2019 and 1,602M USD for 2018.

How many employees does People s United Bank have?

People s United Bank has 6,110 employees.

What sector is People s United Bank in?

People s United Bank is a financial services company.

When was People s United Bank founded?

People s United Bank was founded in 1842.

M&A Summary

  • M&A Total Activity15
    • M&A Buy Activity13
    • M&A Sell Activity2
  • Total Sectors Invested 2
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 1
  • M&A Advisors 7

People's United Bank

People's United Financial, Inc.

850 Main Street,
Bridgeport, Connecticut 06604
United States,
(203) 338-7171
www.peoples.com

People's United Bank is a diversified financial services company with $33 billion in assets. People’s United Bank is a premier, community-based, regional bank in the Northeast offering commercial and retail banking, as well as wealth management services through a network of over 400 retail locations in Connecticut, New York, Massachusetts, Vermont, New Hampshire, and Maine. People's United Bank was founded in 1842 and is based in Bridgeport, Connecticut.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.0/yr) # 13 - - - - - 13
vol $5.0B $5.0B
Sell (0.2/yr) # 1 1 - - - - 2
vol $2.4B $2.4B
  15

Most Recent M&A

Company Date Value Type
People's United Financial, Inc. - LH-Finance 2020-02-19 - Divestiture
, Connecticut
United Financial Bancorp, Inc. 2019-07-15 759M USD Add-on Acquisition
Hartford, Connecticut · www.bankatunited.com
VAR Technology Finance 2019-01-17 - Add-on Acquisition
Mesquite, Texas · www.vartechnologyfinance.com
BSB Bancorp, Inc. 2018-11-27 327M USD Add-on Acquisition
Belmont, Massachusetts · www.belmontsavings.com
First Connecticut Bancorp, Inc. 2018-06-19 544M USD Add-on Acquisition
Farmington, Connecticut · www.firstconnecticutbancorp.com
Gerstein Fisher 2016-07-21 - Add-on Acquisition
New York, New York · www.gersteinfisher.com
Suffolk Bancorp. 2016-06-27 402M USD Add-on Acquisition
Riverhead, New York · www.scnb.com
Citizens Financial Group - 56 Branches 2012-02-28 3M USD Divestiture
, United States
Danvers Bancorp, Inc. 2011-07-01 215M USD Add-on Acquisition
Danvers, Massachusetts · www.danversbank.com
LSB Corp. 2010-12-01 95M USD Add-on Acquisition
North Andover, Massachusetts
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
People's United Bank    - People's United Insurance Agency, Inc. 2020-09-22 1
Bridgeport, Connecticut Hartford, Connecticut
People's United Bank    - LEAF Commercial Capital, Inc. 2017-07-19 5
Bridgeport, Connecticut Philadelphia, United States · www.leafnow.com
People's United Bank    - Citizens Financial - 56 Branches 2012-02-28 4
Bridgeport, Connecticut , United States
People's United Bank    - Butler Bank 2010-04-16 3
Bridgeport, Connecticut Lowell, Massachusetts · www.butlerbank.com

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 12 (92%) 5.0B (100%) 2 (100%) 2.4B (100%)
Information Technology 1 (8%) - - -
Total 13 $5.0B 2 $2.4B

By Geo

State/Country Buy Value Sell Value
United States 13 5.0B 2 2.4B
  Connecticut 4 1.4B 1 -
  New York 3 1.1B - -
  Massachusetts 3 636M - -
  Vermont 1 1.9B - -
  Texas 1 - - -
Total 13 $5.0B 2 $2.4B

Top M&A Advisors

Financial Deals
Keefe, Bruyette, & Woods, Inc.
 3
Morgan Stanley
 2
Jefferies
 1
Legal Deals
Simpson Thacher & Bartlett
 6
Cleary Gottlieb Steen & Hamilton
 1

Deal Values

buy # Total
> $1B 1 $1.9B
$100M to $1B 6 $3.0B
< $100M 3 $154M
TOTAL $5.0B
Largest Chittenden Corp.
$1.9B (2008-01-02)
sell # Total
> $1B 1 $2.4B
TOTAL $2.4B
Largest People's Bank Credit Card Operations
$2.4B (2004-03-05)

M&A Connections

Deals
Acquired from
Strategic(s)
8%
1 (8%)
Divested to
Strategic(s)
100%
2 (100%)

Company Summary

SECTOR

Financial Services

Revenue

1,843   16% 2019
1,602   11% 2018
1,453   11% 2017
1,315   2016
(millions of USD) Show More Show Less

Employees

6,110

Established

1842

 Subscribe to unlock this and 207,814
investor and company profiles

Sign-up today to get full access

  • check  Unlimited Searches
  • check  Unlimited Profile Views
  • check  Build and Export Lists of
    • PE Backed Companies
    • Direct Investors & Acquirers
    • Advisors
    • Deals
    • & More
1 Week Free Trial Learn More

What's Mergr?

We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them.

Every day, new opportunities emerge around M&A and we help professionals of all types comb through transactions, investors, and corporate acquirers via an easy-to-use web database that is accessible to anyone.

Try us for 1 week free today!

Mergr, the Easiest-to-Use PE and M&A DB

Key Benefits

  • Stay informed on events in your industry
  • M&A research that takes seconds (not all afternoon)
  • Better understand your customers and prospects
  • Discover active buyers (or sellers)
Search
  • 4.6K Private Equity Firms
  • 200K M&A Transactions
  • 203K Companies Involved in M&A
    (Buyer, Seller, or Target)
  • 3.6K M&A Advisors
    (Investment Banks and Law Firms)
  • 81K M&A Contacts
    (PE and M&A Advisors)

Ready to try?

Join FREE for 1 Week

No obligation. Cancel anytime.

Related Lists for People s United Bank

Connecticut Companies , Financial Services Companies , United States Companies , Connecticut Financial Services Companies , Connecticut Financial Services with Acquisitions , Connecticut Financial Services with Divestitures

Related Lists for Connecticut Companies

Largest Connecticut Companies , Acquisitive Connecticut Companies , Recently Acquired Connecticut Companies , Recently Sold Connecticut Companies , Private Connecticut Companies , Public Connecticut Companies , Acquired Connecticut Companies , PE Backed Connecticut Companies

Related Lists for Financial Services Companies

Largest Financial Services Companies , Acquisitive Financial Services Companies , Recently Acquired Financial Services Companies , Recently Sold Financial Services Companies , Private Financial Services Companies , Public Financial Services Companies , Acquired Financial Services Companies , PE Backed Financial Services Companies

Related Lists for United States Companies

Largest United States Companies , Acquisitive United States Companies , Recently Acquired United States Companies , Recently Sold United States Companies , Private United States Companies , Public United States Companies , Acquired United States Companies , PE Backed United States Companies
Mergr

Product

Company

Legal