Deals Of The Day: The Latest In Wealth Management M&A - PUF, United Financial Bancorp

Editorial Staff

4 November 2019

People's United Financial
People's United Financial, the US-listed firm, has completed its acquisition of United Financial Bancorp in an all-stock deal. The transition was originally announced on July 15.

PUF, which is based in the Northeast with $52 billion in assets and ounded in 1842, offers commercial and retail banking through a network of over 400 retail locations in Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine, as well as wealth management and insurance solutions.

"We are excited to welcome the loyal customers and talented employees of United Bank to People's United, and look forward to strengthening our existing relationships, and to building new ones across Central Connecticut and Western Massachusetts.

"The acquisition allows us to further optimize our existing branch footprint regionally to more efficiently serve our combined customers, and deliver our tailored solutions to additional markets, backed by our expert bankers and personalized technology,” Jack Barnes, chairman and chief executive, People's United Financial, said.