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BRIDGEPORT, Conn., Oct. 1, 2018 /PRNewswire/ -- People's United Financial, Inc. (PBCT) the holding company for People's United Bank, N.A., announced today that it has completed its acquisition of First Connecticut Bancorp, Inc. (FBNK) the holding company for Farmington Bank. "We are extremely pleased to welcome the employees and customers of Farmington Bank to People's United," said Jack Barnes, Chairman and Chief Executive Officer of People's United Financial. "They have an experienced team and a similar culture that will strengthen our well-established presence in Connecticut, particularly in the Hartford region.
People's United (PBCT) expects the First Connecticut deal to be accretive to earnings per share based on fully phased-in cost savings and is likely to close on Oct 1, 2018.
NEW YORK, Sept. 4, 2018 /PRNewswire/ -- Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for the District of Maryland, Case No. 1:18-cv-02496-RDB, on behalf of shareholders of First Connecticut Bancorp, Inc. ("First Connecticut" or the "Company") (FBNK) who held First Connecticut shares and have been harmed by First Connecticut and its board of directors' (the "Board") for alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the acquisition of the Company by People's United Financial, Inc. ("People's United") (PBCT) ( the "Proposed Transaction").
Moody's Investors Service ("Moody's") has affirmed the ratings of People's United Financial Inc. and its bank subsidiary, People's United Bank, N.A. (together referred to as People's). People's United Bank, N.A. is rated A2/Prime-1 for long- and short-term deposits. Its standalone baseline credit assessment (BCA) is baa1, its counterparty risk assessments are A3(cr)/Prime-2(cr), and its local and foreign currency counterparty risk ratings are Baa1/Prime-2.
NEW YORK , Aug. 2, 2018 /PRNewswire/ -- Ankers Biosciences, Inc. (AKER) Lifshitz & Miller announces investigation into possible securities laws violations in connection with allegations of improper recognition ...
NEW YORK , July 30, 2018 /PRNewswire/ -- Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm headquartered at the Empire State Building in New York City ...
BALA CYNWYD, PA / ACCESSWIRE / July 27, 2018 / Law office of Brodsky & Smith, LLC announces that it is continuing its investigation of potential claims against the Board of Directors of First Connecticut Bancorp, Inc. ("First Connecticut" or "the Company") (NASDAQ:FBNK News) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to People's United Financial, Inc. ("People's United"). Under the terms of the transaction, First Connecticut shareholders will receive only 1.725 shares of People's United stock for each share of First Connecticut stock they own. When announced, the transaction valued First Connecticut at only $32.33 per share.