M&T Bank to buy People’s United

Published: Feb. 22, 2021 at 6:42 PM EST
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BURLINGTON, Vt. (WCAX) - A bank with branches in our region is being bought out.

M&T Bank will buy People’s United Bank in a deal valued at about $7.6 billion.

People’s United shareholders will get partial shares of M&T stock for each share they own.

People’s United shareholders will collectively own about 28% of the combined business.

The combined company will have approximately $200 billion in assets and a network of more than 1,100 branches and more than 2,000 ATMs in 12 states from Maine to Virginia and the District of Columbia.

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