People’s United to acquire Mass.-based bank

On the heels of its most recent Connecticut expansion, People’s United Financial, parent company to People’s United Bank, is preparing for more growth across state lines. The Bridgeport-based company announced Tuesday that it has entered into an agreement with BSB Bancorp, parent company of Belmont Savings Bank in Massachusetts. The stock transaction is valued at roughly $327 million. “Together, we share a similar culture, a customer-centric approach to banking and guiding principles centered on relationships, personalized service and community giving,” said People’s United Financial’s CEO Jack Barnes in a press release.

from Business https://www.ctpost.com/business/article/People-s-United-to-acquire-Mass-based-bank-13424710.php