One year after rival Webster Bank expanded there, Bridgeport-based People’s United Bank is opening its first bank branch ever in Boston Monday, with plans to open a second branch next month, The Boston Herald reports.
The branch opening Monday is in the Prudential Center, while People’s United’s second branch will open Dec. 9 on Milk Street, according to BostonHerald.com
Waterbury Webster Bank a year ago opened a Boston branch as part of a plan to expand its commercial lending footprint in New England.
Meanwhile, People’s United Financial, the bank’s parent, says about 70 percent of the stockholders in its takeover target, Smithtown Bancorp, the Long Island, N.Y., have chosen to receive cash or stock in the $60 million deal. The rest did not voice a preference by the Friday voting deadline, People’s said.
The merger is due to be finalized on or after Nov. 30.
