About the Company
Established in 1842, People’s United Financial, Inc. works as a holding company for People’s United Bank. It offers commercial, retail banking and wealth management services with 400 branches in several locations, like Connecticut, New York, Vermont, New Hampshire, Massachusetts and Maine. It also offers full service and convenient extended hour banking in over 148 convenient stop & shop branches located in Connecticut and New York. The company became public on 6th July 1998 and started trading its shares on the NASDAQ stock exchange under the ticker symbol PBCT. It also became a component of the S&P 500 index on 13th November, 2008.
Initially, in 1842, the company was known by the name of Bridgeport Savings Bank. Its first acquisition was the Southport Savings Bank in 1955, and by 1981, it became the first company to offer telephone bill paying services. With the acquisition of People’s Bank of Vernon in 1983, the company changed its name to People’s Bank. Further, in 1998, the company acquired Norwich Financial Corporation for $164 million. In 2007, the company changed its name to People’s United Bank and went on to acquire Chittenden Corporation for 1.9 billion dollars in 2008. In the same year, People’s United Bank extended its footprints across the north-east through the acquisition of 12 community-based banks, like the Bank of Western Massachusetts, Flagship Bank, Merrill Bank and more.
People’s United Financial offers personalised products and services for both personal and institutional requirements. For personal banking and investing, it offers well-organised plans and schemes like saving for education, retirement planning, trust estates and charitable planning, insurance policies, private banking and more. For institutional banking and financial strategies, the company offers a host of programmes like Institutional Investing, Retirement Solutions, Cash Management, Global Custody and Escrow Services, Business Wealth Management and more.
The company also won several accolades and prestigious awards, like the Greenwich Best Brand Awards 2018 and Forbes’ America’s Best Employers 2018. Apart from that, it also ranked 1338 in Forbes Global 2000 list in the year 2020. Apart from that, it also made it to the lists of Forbes’ America’s Best Banks 2021 and Best-In-State Banks 2020.;
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