Home Banking & Finance People’s United completes $402 million acquisition of Suffolk Bancorp

People’s United completes $402 million acquisition of Suffolk Bancorp

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People’s United Financial Inc., the holding company for People’s United Bank N.A., has completed its $402 million acquisition of Suffolk Bancorp, the holding company for Suffolk County National Bank on Long Island. The 100 percent stock transaction was announced last June.

Howard C. Bluver, former president and CEO of Suffolk Bancorp, will continue to oversee the integration of Suffolk Bancorp and expand the People’s United franchise in the region as New York market president.

With $41 billion in assets, Bridgeport-based People’s United has nearly 400 branches in Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine.

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