People's United Bank is the largest regional banking organization headquartered in New England. With the acquisition of the Chittenden group of banks in January 2008, it has grown to more than $20 billion in assets and more than approximately 300 branches in Connecticut, Maine, Massachusetts, New Hampshire, Vermont and in Westchester County, New York. Convenient, seven-day banking is offered at approximately 80 of our branches in Connecticut and Maine Stop & Shop supermarket locations.
A diversified financial services company founded in 1842, People's United Bank provides consumer, commercial, insurance, retail investment and wealth management and trust services to personal and business customers. Through its subsidiaries, People's United Bank offers: brokerage, financial advisory services, investment management services and life insurance through People's Securities, Inc. and Chittenden Securities;equipment financing through People's Capital and Leasing Corp.;asset-based lending through Chittenden Commercial Finance, Inc.;and other insurance services through R.C. Knox and Company, Inc. and Chittenden Insurance Group. Division of People's United Bank include: Chittenden Bank, Flagship Bank, Maine Bank & Trust, Merrill Bank, Ocean Bank, and The Bank of Western Massachusetts.
People's United Bank was organized under the mutual holding company structure and went public in 1988 at a split-adjusted price of $1.20 per share. In 2006, the bank changed to a federally-chartered mutual holding company and a federal savings bank charter, providing significantly greater flexibility in opening new branches and expanding its businesses in all states. In April 2007, People's United Financial, Inc., the bank's parent company, completed the conversion from a mutual holding company structure to a fully publicly-owned stock form holding company.