The state’s job recovery and economic growth rate since the Great Recession have lagged the nation, but Connecticut banks are collectively doing better than ever.
As chairman and CEO of People’s United Bank and its parent, People’s United Financial, Jack Barnes has a growing empire to manage from his 16th-floor corner office in Bridgeport that overlooks the harbor below.
Bridgeport-based regional lender People’s United Bank will close 18 Connecticut branches of Hartford-based United Bank, which it acquired Nov. 1, for $759 million.
A New York-based community bank that operates in six states and has nearly $10 billion in assets is entering the Connecticut market with some familiar names.
People’s United Financial, parent of People’s United Bank, on Friday closed its $759 million acquisition of Hartford-based United Financial Bancorp.
People’s United Financial’s $759 million acquisition of Hartford-based United Financial Bancorp could close as soon as Nov. 1, the latter institution said Friday.