BRIDGEPORT, CT -- People's United Bank , N.A. a subsidiary of People's United Financial, Inc. (NASDAQ: PBCT), will celebrate its 175th anniversary on December 24th. To commence the celebration, the bank today announced a $175,000 grant from People's United Community Foundation to Junior Achievement USA, who will use the funding for upcoming regional financial literacy and career-readiness programs for youth across six states that align with the People's United footprint, including: CT, NY, MA, VT, NH, ME. This is the single largest one-time grant gifted by the Foundation to a non-profit organization since launching in 2007.
Annually, the Foundation offers awards in support of programs and services that enhance the quality of life for residents across its footprint with three core areas of focus that include: affordable housing, community and youth development. Since its inception the Foundation has granted nearly $26 million to non-profits.
People's United is also conducting a companywide volunteer effort, challenging its employees to participate in 175 volunteer projects throughout the communities it serves. Special customer appreciation days and product promotions will also be a part of the celebration.
"This important milestone has been achieved through the collaborative efforts of our employees and their focus on building lasting customer relationships, providing local expertise, returning value to our shareholders and having an impact on the communities where we live and work," said Jack Barnes, President and CEO. "While we have significantly expanded our footprint over the years, we have never lost sight of our roots and the importance of these values which differentiate us as the bank of choice in the markets we serve."
It was in 1842 when the bank, originally named Bridgeport Savings Bank, accepted its first deposits—amassing $97 in its first week. Since established, People's United has been a pioneer in regional banking, hiring what is believed to be the first female staff member employed by any bank in CT circa 1900, the first to offer telephone banking in 1976 and the first CT bank to successfully offer in-store banking seven days a week through our Stop & Shop relationship.
"With humble beginnings, long-term customer value and trust have always been at the core of the Bank's commitment. It's that trust that has allowed People's United to grow organically and through acquisitions of banks with similar cultures and strategic vision, from a small regional bank to a diversified financial services company," added Barnes.
Since 2007 when the People's United name was established, it has more than tripled the size of its loan and deposit portfolios through organic growth and 12 strategic mergers and acquisitions.
Today, People's United has more than 5,500 employees and is a diversified financial services organization with a branch footprint of more than 400 across the Northeast, national businesses that span the country and subsidiaries specializing in equipment finance, asset management, brokerage and financial advisory services as well as insurance services.
About People's United Bank
People's United Bank, N.A. is a subsidiary of People's United Financial, Inc. (NASDAQ: PBCT), a diversified financial services company with $44 billion in assets. People's United Bank, founded in 1842, is a premier, community-based, regional bank in the Northeast offering commercial and retail banking, as well as wealth management services through a network of over 400 retail locations in Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine. People's United Bank. "What know-how can do." ®
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