PBCT - PBCT STOCK NEWS

People's United Financial, Inc. (NASDAQ: PBCT) has received regulatory approval from the Federal Reserve to proceed with its acquisition by M&T Bank Corporation (NYSE: MTB). The merger has also been approved by New York and Connecticut financial regulators. Both companies' boards and shareholders sanctioned the deal, which aims to finalize the integration soon. With approximately $65 billion in assets, People's United Bank will enhance M&T's regional presence, creating a more robust financial services entity.

M&T Bank Corporation (NYSE: MTB) has received regulatory approval from the Federal Reserve, New York State Department of Financial Services, and Connecticut Department of Banking to proceed with its merger with People's United Financial, Inc. (NASDAQ: PBCT). Both companies' boards and shareholders unanimously approved the transaction, expected to finalize as per the merger agreement. This merger is anticipated to strengthen M&T's market presence and enhance its service offerings across its geographic footprint.

M&T Bank Corporation (NYSE: MTB) and People's United Financial, Inc. (NASDAQ: PBCT) have announced the extension of their merger agreement from February 21, 2022, to June 1, 2022. The merger has already received necessary approvals from the New York and Connecticut financial regulatory bodies, with the final approval pending from the Federal Reserve. Once finalized, the merger aims to enhance service delivery across significant banking markets in the U.S. and includes M&T's commitment of $43 billion toward a community growth plan.

People's United Bank (NASDAQ: PBCT) announced the provision of $89.6 Million in credit facilities to CCO, LLC, based in Rocky Hill, CT. This financing, which includes senior revolving and term loans, aims to refinance existing debt, fund the acquisition of twelve sites, and provide working capital. CCO operates gas stations and convenience stores under various brands across the Northeast. The bank's expertise facilitated a smooth financing process, supporting CCO's growth in the competitive market.

People's United Bank (NASDAQ: PBCT) has announced it is the Lead Arranger and Administrative Agent for a credit facility benefiting Atlantis Management Group, a motor fuel distributor based in Mt. Vernon, NY. The credit facility aims to support Atlantis's growth and new acquisitions. Kevin Dolan, SVP at People's United, emphasized the strong partnership between the two companies, highlighting their commitment to providing tailored financial solutions. People's United Bank manages approximately $65 billion in assets, serving various regions across the Northeast and Mid-Atlantic.

People's United Financial has declared a quarterly cash dividend of $0.3515625 per share on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock. This dividend, which is conditional upon the merger with M&T Bank Corporation, will be payable on March 15, 2022, to shareholders recorded by March 1, 2022. The company, with approximately $65 billion in total assets, operates nearly 400 retail locations across regions including Connecticut, New York, Massachusetts, and others.

People's United Financial, Inc. (NASDAQ: PBCT) announced its 4Q and full-year 2021 results, reporting a net income of $149.9 million, or $0.34 per share, for the fourth quarter. Full-year operating earnings reached a record $628.6 million, up 18% from the prior year, with an operating return on average tangible common equity of 13.6%. The net interest margin declined to 2.51%, while total deposits grew to a record $53.8 billion. Additionally, a quarterly dividend of $0.1825 is set for payment on February 15, 2022. The merger with M&T Bank is still pending approval.

People's United Financial (NASDAQ: PBCT) is set to release its fourth quarter and full-year 2021 earnings results on January 20, 2022, at approximately 4 p.m. EST. The announcement highlights the company's ongoing commitment to transparency and shareholder communication. As of now, People's United Bank has over $63.5 billion in assets and operates nearly 400 retail locations across the Northeast, including Connecticut, New York, and Massachusetts. Investors can access the financial tables and press release on the company’s investor relations website.

People's United Financial, Inc. (NASDAQ: PBCT) has announced that its Annual Meeting of Shareholders will take place on December 16, 2021, at 2:00 p.m. The meeting was rescheduled to comply with NASDAQ requirements amid the pending merger with M&T Bank Corporation. If closing conditions for the merger are fulfilled before the meeting date, it will be canceled. The record date for voting eligibility is November 16, 2021. Shareholders must submit proposals by November 15, 2021, to be considered for the meeting.