M&T Bank to Acquire People’s United Bank
The parent company of Buffalo-based M&T Bank has agreed to acquire Connecticut-based People’s United Bank for a deal valued at $7.6 billion. The boards of both companies have approved the merger, which is expected to close in the fourth quarter of 2021, the banks...
Eastern Bank to Search for M&A Opportunities
After finishing up its first quarter as a public bank, Eastern Bank in the year ahead plans to reduce expenses as it looks to make larger bank acquisitions than it had in the past. “Armed with $1.7 billion from our capital raise, we believe that we are positioned...
Cambridge Trust Co. Buys $1B Mass. Bank
Massachusetts-based Cambridge Trust Co., which earlier this year bought Portsmouth’s Optima Bank and Trust, has announced it is buying another bank in an all-stock transaction worth $122 million. The deal, announced Dec. 5, will see Cambridge Trust absorb...
People’s United Won’t Swear Off Future Mergers
Changing market 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. The bank maintains 11 branches throughout the...This Week’s Paper: Digital Edition
