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Traynor stated President Biden is concerned about raising corporate taxes too high.
The Bridgeport-based bank is not, however, ready to reverse its decision yet.
The bank currently operates 84 Stop & Shop branch locations in Connecticut and 56 in New York.
Multi-family has been stable, and single-family has been on fire," enthused People's United Bank Executive Vice President Marjan Murray at the Construction Institute's annual Fairfield County Economic Forum.
“For us to be successful, we need smart people to come here to learn – and we need those smart people to stay here and work," John Traynor, executive vice president and chief investment officer at the Bridgeport-based bank, said.
To compile the list, 2,500 FDIC-insured U.S. banks were assessed based on 55 separate factors.
“We will only release (a Covid vaccine) when it is safe and effective,” Gov. Ned Lamont declared, adding that overcoming some residents’ “vaccine hesitancy” could be a challenge.
The transaction is expected to close in the fourth quarter.
But it's anyone's guess what Q3 might bring.
CEO Jack Barnes said the BTO will "innovate and reconceptualize our offerings in an efficient way."
AlwaysChecking, provided in partnership with Experian, is offered free exclusively to all personal checking account customers of the Bridgeport-based bank, as well as for those opening a new account.
People's United Bank executive John Traynor quipped, "Massachusetts got GE and we got Gisele – I think we got the better deal."
"When unemployment goes down and then starts going up, you generally have a recession soon thereafter," Traynor warned.
Sixteen other Connecticut branches and three in Massachusetts will also be shut down.