People's United Financial, Inc.
0KH6.L
London Stock Exchange18.82
USD
-1.42
- -
People's United Financial, Inc.
0KH6.L
(London Stock Exchange)
Recent
price
18.82
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- People's United Financial, Inc. formerly operated as the holding entity for People's United Bank, National Association, a prominent financial institution that delivered extensive commercial banking, retail banking, and wealth management services to a diverse clientele including individual consumers, corporate clients, and municipal organizations. Its commercial offerings encompassed a variety of deposit solutions, commercial real estate financing, lending specifically tailored for middle market and business banking segments, equipment lease financing, mortgage warehouse facilities, asset-backed lending, and sophisticated treasury management tools. The company also catered to individual clients with residential mortgage and home equity loan products, alongside various consumer deposit options. Additionally, the institution provided comprehensive wealth management services, such as brokerage, financial and investment advisory, investment portfolio management, life insurance, and non-institutional trust administration. Prior to its acquisition, People's United Bank maintained a significant physical presence, operating approximately 400 branch locations and 562 ATM machines across Connecticut, New York, Massachusetts, Vermont, New Hampshire, and Maine, as of early March 2022. Founded in Bridgeport, Connecticut, in 1842, People's United Financial, Inc. concluded its independent existence when M&T Bank Corporation acquired it in an all-stock transaction valued at approximately $8.3 billion, with the merger officially closing on April 2, 2022. By the third quarter of 2022, the former operations of People's United Bank were fully integrated into M&T Bank, with the Bridgeport headquarters transitioning to serve as M&T's New England regional hub. Following the completion of the acquisition, People's United's common stock ceased trading on the NASDAQ exchange.