M&T Bank Signs Beginning To Appear On People's United Branches In CT

CONNECTICUT — M&T Bank signs are beginning to appear on People's United Bank branches in Connecticut in the latter-stages of a conversion process that will likely take the rest of the summer to complete.

M& T Spokesman David Samberg said Friday that signage should "officially be changed on official conversion in early September."

One example was in Enfield: an M&T sign was visible on the front lawn of the branch with a temporary shroud sitting loosely at its base. Meanwhile, on the other side of the building, a finished M&T sign was covered by a temporary People's United logo.

In April, M&T Bank Corporation, the parent company of M&T Bank, announced the completion of its $8.3 billion acquisition of People's United Financial, Inc., the parent of People's United Bank.

The combined company now employs more than 22,000 people and has a network of more than 1,000 branches and 2,200 ATMs that span 12 states from Maine to Virginia and Washington, D.C.

People's United common stock stopped trading on the NASDAQ market after the announcement.

The People's United headquarters in Bridgeport are now M&T's New England regional headquarters.

People's United customers have been served through current branches, websites, mobile apps, financial advisers and "relationship managers" under the People's United banner. The brand and systems are slated to be fully converted to M&T's in the third quarter of 2022, hence the September reference officials said.

Customers from both M&T and People's United have been able to use any M&T Bank or People's United Bank ATM to withdraw cash, officials said.

As part of the merger, M&T Bank previously announced a five-year community growth plan – developed in collaboration with the National Community Reinvestment Coalition and local community organizations – that will provide loans, investments and other financial support for low-to-moderate income families and neighborhoods across the combined M&T and People's United footprint.

Both M&T and People's United have a reputation for their "community commitments" and support of civic organizations. Over the past decade, M&T and its charitable foundation have contributed more than $279 million to more than 7,600 nonprofit groups. Since their inceptions, People's United Community Foundation and People's United Community Foundation of Eastern Massachusetts have collectively granted more than $47 million to thousands of nonprofits within the geographic areas they serve.