M&T Bank has completed its acquisition of People's United Financial in an $8.3 billion deal.
Buffalo-based M&T Bank announced the completion of the deal on Saturday. People's United's headquarters in Bridgeport, CT, is now M&T's New England regional headquarters.
The combined company has approximately $200 billion in assets and a network of more than 1,000 branches in 12 states from Maine to the District of Columbia. It employs more than 22,000 people.
Clients of People's United will retain access to current branches while they are being converted to M&T's. M&T had been active in acquisitions, but People's United was its first major deal in almost six years.
