M&T Bank Completes Acquisition Of People's United Financial

(RTTNews) - M&T Bank Corp. (MTB) announced the completion of acquisition of People's United Financial Inc. (PBCT) valued at $8.3 billion.

The combined company employs more than 22,000 people and has a network of over 1,000 branches and 2,200 ATMs that span 12 states from Maine to Virginia and Washington, D.C. People's United common stock no longer trades on the NASDAQ after Friday, April 1, 2022.

People's United's headquarters in Bridgeport, Connecticut, is now M&T's New England regional headquarters.

Combined company creates a $200 billion banking franchise serving communities in the Northeast and Mid-Atlantic from Maine to Virginia and Washington, D.C.

Systems conversion expected to take place in the third quarter of 2022

In February 2021, M&T Bank agreed to acquire People's United in an all-stock transaction.