Bridgeport lender People’s United Financial Inc. posted a profitable fourth-quarter to close out 2015 with earnings that topped those of a full 12 months earlier.
For three months ended Dec. 31, the parent of People’s United Bank said it netted of $70.8 million, or 23 cents a share, up from $64.7 million, or 22 cents a share, the same quarter year earlier.
People’s said it sold its payroll services business in the quarter, contributing a net after-tax gain of $6.1 million, or 2 cents a share.
For the year, the thrift netted $260.1 million, or 86 cents a share, vs. $251.7 million, or 84 cents per share, netted for all of 2014.
People’s board voted a share of those profits to common stockholders through a dividend of 16.75 cents a share, payable Feb. 15 to stockholders of record by Feb. 1.
“We are pleased to report growth in full-year operating earnings per share for the sixth consecutive year, particularly given the prolonged low interest rate environment,” People’s United CEO Jack Barnes said. “These results are driven by the strategic investments we have made in talent, products and services.”
People’s United ended 2015 with assets of $38.9 billion vs. $36 billion a year earlier.
