M&T BANK CORPORATION M&T Bank Corporation announced receipt of regulatory approval from the Board of Governors of the Federal Reserve System to complete the previously announced acquisition of People's United Financial Inc. The transaction has also received approval from both the New York State Department of Financial Services and the Connecticut Department of Banking. No further regulatory approvals are required. The merger is expected to be completed in accordance with the law and the agreement.
The merger was unanimously approved by the board of directors of each company. Shareholders at both M&T and People's United approved the transaction on May 25, 2021 at their respective special meetings.
