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Banking & Finance

After building Vantis Life into $1B insurer, Tedone heads toward retirement

Sean Teehan |

After building Vantis Life Insurance Co. into a $1 billion insurer, chief executive Peter Tedone is heading out the door for retirement.

United Bank’s branch aspirations take root

Gregory Seay |

While People's United Financial weighs which of its and Farmington Bank's branches will remain after their pending tie-up, Hartford community lender United Bank is expanding its regional network of...

Liberty Bank set to occupy new HQ

Gregory Seay |

Liberty Bank is ready next month to begin consolidating for the first time nearly 300 workers into its new Middletown headquarters campus.

Spurned E. Hfd. lender plans layoffs

Gregory Seay |

An East Hartford financier that assists distressed mortgage borrowers says it plans to lay off as many as 35 Connecticut workers and scrap its headquarters expansion amid a staff-licensing flap with...

Visa and MasterCard agree to settle swipe fee class action for $6.2 billion

CNNMONEY |

Visa and MasterCard, along with some top US banks, have agreed to pay as much as $6.2 billion in a class action settlement with US retailers over swipe fees.

The incredibly shrinking community-bank sector

The darker side of merger-and-acquisition activity was on display with the recent announcement that Farmington Bank will shed more than a quarter of its workforce after its $544 million buyout by...

Webster embezzler facing 30 yrs.

Gregory Seay |

A former Webster Bank manager faces 30 years in prison following his conviction Thursday for embezzling more than $850,000, prosecutors say.

Acquisition payday looms for Farmington Bank execs

Gregory Seay |

The CEO of Farmington Bank's parent and his top lieutenants will collect an estimated $14.8 million in cash severance and other payments once People's United Financial Inc.'s purchase of the...

West Hartford the apple of People's United's eye

Gregory Seay |

People's United Bank made a splash earlier this year when it announced it would acquire Farmington Bank for $544 million. Find out what really attracted the Bridgeport regional lender to the deal.

Farmington Bank to shed 27% of workforce after $544M People's United deal

Joe Cooper| Matt Pilon |

Bridgeport-based People's United Bank intends to lay off 95 Farmington Bank employees once its $544 million acquisition of the community lender is complete, according to a state Department of Labor...

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