M&A Deal Summary

People s United Bank Acquires BSB Bancorp

On November 27, 2018, People s United Bank acquired financial services company BSB Bancorp for 327M USD

Acquisition Highlights
  • This is People s United Bank’s 11th transaction in the Financial Services sector.
  • This is People s United Bank’s 6th largest (disclosed) transaction.
  • This is People s United Bank’s 11th transaction in the United States.
  • This is People s United Bank’s 3rd transaction in Massachusetts.

M&A Deal Summary
Date 2018-11-27
Target BSB Bancorp
Sector Financial Services
Buyer(s) People s United Bank
Deal Type Add-on Acquisition
Deal Value 327M USD
Advisor(s) J.P. Morgan Securities (Financial)
Luse Gorman (Legal)

Target

BSB Bancorp

Belmont, Massachusetts, United States
BSB Bancorp, Inc. is a community-focused bank providing a range of retail and commercial products and services. BSB Bancorp was founded in 2011 and is based in Belmont, Massachusetts.

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Buyer(S) 1

Buyer

People s United Bank

Bridgeport, Connecticut, United States
Category Company
Founded 1842
Sector Financial Services
Employees6,110
Revenue 1.8B USD (2019)
DESCRIPTION

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.

DEAL STATS #
Overall 11 of 13
Sector (Financial Services) 11 of 12
Type (Add-on Acquisition) 10 of 12
State (Massachusetts) 3 of 3
Country (United States) 11 of 13
Year (2018) 2 of 2
Size (of disclosed) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-19 First Connecticut Bancorp

Farmington, Connecticut, United States

First Connecticut Bancorp is a community bank with 28 branches throughout Central Connecticut and Western Massachusetts. First Connecticut Bancorp was founded in 1851 and is based in Farmington, Connecticut.

Buy $544M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-17 VAR Technology Finance

Mesquite, Texas, United States

VAR Technology Finance provides financing for commercial and public sector customers of large technology suppliers that sell through the Information Technology channel, using an industry-focused software platform and private label programs. They have over 25,000 direct end-user customers in commercial and public sectors, including small, medium and Fortune 1000 companies, in addition to K‐12 and universities.

Buy -
Mergr

Product

Company

Legal