People's United Bank
Everything Starts With You
Former: It's Possible @ People's |
|
| Public | |
| Traded as |
NASDAQ: PBCT S&P 500 Component |
| Industry | Banking |
| Founded | 1842 as Bridgeport Savings Bank 1927 as Bridgeport-People's Savings Bank 1955 as People's Savings Bank-Bridgeport 1983 as People's Bank 2007 as People's United Bank |
| Headquarters | Bridgeport, Connecticut, United States |
|
Area served
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Connecticut, Vermont, New Hampshire, Massachusetts, Maine & Westchester County, New York |
|
Key people
|
John Barnes (CEO) Kirk W. Walters (CFO) |
| $198,800,000 | |
| Total assets | $39.18 billion (2016) |
|
Number of employees
|
4,788 |
| Website | www |
People's United Financial, Inc. is a savings and loan holding company incorporated under the state laws of Delaware. The company owns People's United Bank, a federally chartered stock savings bank headquartered in Bridgeport, Connecticut. People's United Bank is the largest independent bank headquartered in New England.
A diversified financial services company with over $39 billion in assets, the bank provides consumer and commercial banking services through a network of subsidiary banks with approximately 416 branches in Connecticut, Vermont, New Hampshire, Massachusetts, Maine, and New York. Through People's United Financial provides equipment financing, asset management, brokerage and financial advisory services, and insurance services. People's United also offers a People's United Bank credit card through Citizens Financial Group.
People's United Bank, formerly People's Bank, was founded in 1842 as a savings bank in Bridgeport, Connecticut. In 1981, People's Bank became the first in the country to provide a telephone bill paying service. By 2002, People's Bank was the 40th largest company in Connecticut by revenue. On November 22, 2010, the bank opened its first location in Boston.
People's Bank changed its name to People's United Bank on June 7, 2007 following its acquisition of Chittenden Corporation for $1.9 billion. In July 2010, the bank announced a $5 billion market cap on its stock, which it pays a 4.5% dividend on. It is also known to have over $2 billion on its balance sheet.
In the fall of 2016, the state of Massachusetts announced they would be moving their core accounts from Santander Bank to People’s United Bank. Approximately $50 billion moves through Massachusetts' banking account each year.
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Wikipedia