Growing Divide: In wake of mega-mergers, no drastic pivots — yet — for CT's community banks
Following two of the largest mergers and acquisitions Connecticut’s banking industry has ever seen, the chasm between larger lenders and community banks has widened even further. The pending acquisition of People’s United Financial by New York’s M&T Bank announced in February will create a regional behemoth with $200 billion in total assets. People’s United’s home-state rival Webster Financial wasted no time responding, announcing last month a merger with New York-based Sterling National Bank, which will have $63 billion in combined assets. Once the deals are finalized, those banks ...
Source: hartfordbusiness.com
