NewAlliance Bank

The Federal Reserve has approved KeyCorp's pending acquisition of First Niagara Financial Group Inc., and the merger will be completed around Aug. 1, KeyCorp CEO Beth Mooney said.

First Niagara Financial Group, which acquired New Haven's NewAlliance Bank in 2011, said Friday it has agreed to be purchased by an Ohio bank for $4.1 billion.

United Bank, which merged earlier this year with Rockville Bank, said Monday afternoon it would close an East Windsor branch and four in Massachusetts to counter what it expects will be continued pressure from low interest rates in the coming year.

Peyton Patterson, a prominent Connecticut banker hired by New Canaan's Bankwell Financial to pursue an aggressive growth strategy to quadruple the lender's asset size, has resigned, Bankwell announced Thursday.

Bankwell Financial Group has received state approvals to acquire the Wilton Bank, it said.

New Canaan's Bankwell Bank said it has acquired The Wilton Bank, a one-branch institution in Wilton that has booked losses since 2009.

Gail E. D. Brathwaite has joined BNC Financial Group as executive vice president and chief operating officer....