People's United gets Fed OK for Suffolk Bancorp acquisition

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People's United gets Fed OK for Suffolk Bancorp acquisition

Tue, 03/21/2017 - 2:31am -- tim

Vermont Business Magazine As announced by The Federal Reserve Board on March 16, 2017, People's United Financial, Inc (NASDAQ: PBCT) has received approval by the Board of Governors of The Federal Reserve for the merger of Suffolk Bancorp, of Riverhead, NY (NYSE: SCNB) with and into People's United Financial. The transaction, announced June 27, 2016 and approved by the shareholders of Suffolk Bancorp on October 13, 2016, also received approval by the Office of the Comptroller of the Currency ("OCC") on February 6, 2017. 

About People's United Bank, NA 
People's United Bank, N.A. is a subsidiary of People's United Financial, Inc. (NASDAQ: PBCT), a diversified financial services company with $41 billion in assets. People's United Bank, founded in 1842, is a premier, community-based, regional bank in the Northeast offering commercial and retail banking, as well as wealth management services through a network of nearly 400 branches in Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine. Visit us at peoples.com.

SOURCE: BRIDGEPORT, Conn., March 16, 2017 /PRNewswire/ -- ​People's United Financial, Inc.