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...
Source: hartfordbusiness.com