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People's United reports 2Q2021 net income of $170.8 million, to be acquired by M&T

Net income available to common shareholders totaled $167.3 million. Operating earnings totaled $176.1 million, or $0.41 per common share (See Non-GAAP Financial Measures and Reconciliation to GAAP). Net interest income totaled $380.9 million in 2Q21 compared to $385.9 million in 1Q21. Includes $24.9 million associated with PPP loans in 2Q21 ($20.0 million in net fees and $4.9 million in net interest income). Net interest margin decreased four basis points from 1Q21 to 2.70% reflect...
New York United States New Hampshire District Of Columbia Jack Barnes David Rosato

People's United reports 1Q21 net income of $144.5 million, 33 cents per share

Announces Common Dividend Increase for 28th Consecutive Year Announced merger with M&T Bank Corporation, which is expected to close in the fourth quarter of 2021. Sustained excellent asset quality as evidenced by net loan charge-offs to average total loans of 12 basis points, and provision for credit losses resulting in a net benefit of $13.6 million. Maintained strong deposit inflows as period-end balances increased $1.3 billion or three percent linked-quarter. Reached agreement with Stop & Sh...
New York United States New Hampshire Jack Barnes David Rosato Federal Reserve Bank

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