People's United Financial, Inc.: management transactions · United States · SEC (Form 4)

About People's United Financial, Inc.

People’s United Financial, Inc. (PBCT) was a U.S. bank holding company formerly listed on the NASDAQ, operating in the financial sector in the United States before being acquired by M&T Bank, a transaction that closed on April 1, 2022. For French-speaking investors in Europe, it is therefore best viewed as a historical equity story and as a reference point for SEC Form 4 insider-transaction analysis rather than as an independently traded public company today. Prior to the merger, People’s United Financial operated through People’s United Bank, a regional and community-oriented banking franchise with a long-standing presence in the Northeastern United States, especially Connecticut, as well as Massachusetts, New York, Vermont, New Hampshire and Maine. Founded in 1842, the company built its franchise around relationship banking and a broad mix of retail and commercial financial services. Its core activities included consumer and business deposits, commercial lending, small-business banking, residential and commercial real-estate lending, treasury-management solutions, wealth management, and certain specialty finance activities such as equipment finance and leasing. Over time, the group expanded through acquisitions and targeted product additions, allowing it to serve households, local businesses, municipalities and professional clients with a relatively diversified regional offering. Its competitive position was based less on national scale than on dense local coverage, brand recognition in its core markets, and a practical cross-sell model that combined traditional branch banking with fee-based and specialized financial products. The company’s headquarters were in Bridgeport, Connecticut, anchoring it in one of its most important historical markets. At its peak, its distribution footprint covered more than 400 retail locations across the Northeast, giving it meaningful reach for a regional bank and helping it compete against other super-regional and community banks in the same corridor. Its product set was designed to balance stability and growth: core deposit gathering, mortgage and commercial lending, wealth advisory services, insurance solutions, and financing products for business customers. In strategic terms, People’s United was a classic U.S. regional bank with a strong deposit base and a mix of recurring fee income and spread-based earnings. The most important recent development was the acquisition by M&T Bank Corporation. Announced in 2021, approved by regulators in March 2022 and completed on April 1, 2022, the deal was valued at roughly $8.3 billion and ended PBCT’s life as a standalone listed company. Since then, the legacy People’s United operations have been folded into M&T Bank, and M&T has continued to reference the acquired deposits, assets and integration-related costs in subsequent filings and earnings materials. For investors, PBCT is therefore primarily relevant as a former NASDAQ-listed regional bank whose history illustrates the consolidation trend in U.S. banking and provides context for historical insider activity and corporate filings.