November 6, 2018

People's United closing 15 Hartford area offices

HBJ PHOTO | JOE COOPER
HBJ PHOTO | JOE COOPER
People's United Bank at 1 Financial Plaza in downtown Hartford will remain open.

Bridgeport lender People's United Bank has identified at least 15 suburban Hartford People's United and Farmington Bank branches that will close early next year.

Parent People's United Financial Inc. previously declared its intent in a filing with state regulators to shut some of its branches following its $544 million merger-buyout of Farmington Bank's ex-parent, First Connecticut Bancorp.

According to People's filing with federal bank regulators, which was first reported by The Hartford Courant, the list of projected closures leans heavily on shutting existing Farmington Bank branches in favor of nearby People's free-standing and Stop & Shop locations. Farmington Bank opened some of those branches just in the last five years.

A People's spokesman confirmed the accuracy of the branch addresses on the closing list submitted to regulators.

People's must receive clearance from, among others, the Connecticut Banking Department to close the in-state offices.

People's had previously announced plans to lay off about one in four of its Farmington Bank staff, or about 95 workers, once the merger was consummated.

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