M&T Bank to acquire People’s United Financial

News

(WIVB) – M&T Bank is becoming one of the nation’s largest banks after making a new purchase.

It’s buying People’s United Financial- a bank headquartered in Connecticut.

The purchase will make M&T Bank the 11th largest in the country.

The hometown bank will now have more than a thousand branches along the East Coast.

Its assets will be more than $200 billion.

The sale is not final yet- it’s expected to happen at the end of the year.

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