Light Rain Fog/Mist 45°
Tag:

Wealth Management

Business
People's United Bank Sold For $7.6 Billion People's United Bank Sold For $7.6 Billion
People's United Bank Sold For $7.6 Billion People’s United Financial Inc. and all of its stock is being sold for $7.6 billion to M&T Bank Corp. All together, M&T plus People’s, there will be 1,100 branches and more than 2,000 ATMs across 12 states, M&T said in an announcement. The combined banks have $200 billion in assets. The purchase-and-sale agreement was entered into on Friday, Feb. 19, and the acquisition is expected to close in the fourth quarter of 2021. People’s United’s headquarters in Bridgeport, Connecticut, will become the New England regional headquarters for M&T. Representatives for M&T said the…

SHARE

by Kristin Palpini
Politics
Wealthy CT Residents Will Be Hit Hard By GOP Tax Bill, Study Says Wealthy CT Residents Will Be Hit Hard By GOP Tax Bill, Study Says
Wealthy CT Residents Will Be Hit Hard By GOP Tax Bill, Study Says A new study finds that Connecticut has had the third most millionaires in the U.S. for the last seven years. That means that the GOP tax bill will have a greater impact on wealthy residents in the blue states, the study says. The 2017 Phoenix Wealth & Affluent Monitor (W&AM) shows that as of mid-2017, the top 1 percent of U.S. households -- those having $5 million or more in investable assets or liquid wealth -- increased by eight percent to more than 1.1 million. The richest Americans are concentrated in states that were carried by Democrats in at least three of the last four pres…

SHARE

by Cecilia Levine