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On heels of mega-merger announcement, People's United's 1Q profits rise 11%


In its first earnings report since announcing plans to merge with New York-based M&T Bank, Bridgeport’s People’s United Financial, the parent company of People’s United Bank, said its first-quarter profits rose nearly 11%.
Between Jan. 1 and March 31, the company’s net income climbed to $144.5 million, or 33 cents per common share, up from $130.4 million, or 30 cents per common share, in the year-ago period. Operating income rose from $141.1 million, or 33 cents per common share, in the first quarter of 2020 to $156.5 million, or 37 cents per common share, in the first quarter of 2021.
Senior Executive Vice President and CFO David Rosato attributed the gains to modestly higher net interest income, cost-control measures, and a negative provision for credit losses driven by an improved economic outlook. Rosato also cited strong deposit growth, which he linked to the latest round of federal economic stimulus payments and a net increase in Paycheck Protection Program b ....

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Stop & Shop shooting in West Hempstead, New York: What We Know


NEW YORK – At least one person was killed and two injured after a shooter opened fire inside a manager s office at a Long Island grocery store Tuesday, police said.
The Nassau County Police Department tweeted that the suspect has been apprehended and taken into custody. Earlier, Police Commissioner Patrick Ryder named Gabriel DeWitt Wilson as a person of interest and told reporters the suspect fled the scene at the Stop & Shop in West Hempstead, New York, heading west on a turnpike.
Ryder said the suspect was dressed in all black and believed to be armed with a small handgun. He said the man may be a current or former employee of the grocery store. ....

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