New Valley Bank & Trust to Expand Headquarters
One year after opening as Massachusetts’ first de novo bank in more than a decade, New Valley Bank & Trust plans to expand its headquarters by moving to a former United Bank branch.
The Provident Bank Acquires People’s United Warehouse Lending Division
The Provident Bank has entered the warehouse lending business by acquiring United Bank’s legacy ResX Warehouse Lending portfolio from People’s United Bank on Jan. 17.
People’s United to Close 12 Massachusetts Branches
People’s United Bank will close 12 branches in western and central Massachusetts, including three in Worcester, as part of its branch consolidation following its acquisition of United Bank.
People’s United Completes Acquisition of United Bank
Bridgeport-based People’s United Financial Inc., the holding company for People’s United Bank, acquired United Bank and its holding company, United Financial Bancorp Inc., in an all-stock transaction on Nov. 1.
United Bank Shareholders Approve People’s United Merger
The merger between Hartford-based United Bank and Bridgeport-based People’s United Bank could happen as early as next week now that United’s shareholders have approved the proposal.
United and People’s United Face Lawsuits as Shareholders Set to Meet on Merger
People’s United Bank and Connecticut-based United Bank have moved closer to a proposed merger, but not without several legal complaints looking to delay the transaction.
United Bank Rejected Bigger Offer from People’s United Last Year
People’s United’s latest acquisition target, Connecticut-based United Bank, originally rejected a much higher offer from People’s last year.
McGurk’s Bid to Stop Purchase of United Bank Faces Big Obstacles
William McGurk, one of the largest private shareholders in United Bank, has been outspoken about his disappointment in People’s United Bank’s planned $759 million purchase of United. But he faces a difficult path to blocking the merger.
United Bank’s Largest Private Shareholder Slams Planned Acquisition
The largest private shareholder of United Financial Bancorp stock has criticized the company’s planned acquisition by People’s United Bank.
People’s United Expects Branch Consolidation and Employee Reductions from United Bank Purchase
Most of the cost savings that People’s United will achieve when it completes its purchase of Hartford-based United Bank will be through staff and branch reductions.
People’s United to Purchase United Bank Parent in $759M Deal
People’s United Bank will cross the $50 billion asset threshold with its third bank purchase in a little more than a year.
United Bank Could See Major Losses as Result of Alleged Ponzi Scheme
The parent company of Hartford-based United Bank reported another profitable quarter to start the year, but major losses could be coming.
United Bank’s Growth Fails to Meet Expectations
Competitive pricing continued to slow loan growth at the parent company of Hartford-based United Bank in the third quarter of 2018.
Springfield De Novo Plans to be Bank for Small Business Owners
Springfield-bound New Valley Bank & Trust plans to put a premium on small business lending, while utilizing technology to its fullest and outsourcing a number of services in its early stages to achieve its business strategy.
United Bank Parent’s Profits Slow Slightly as Company Grows
Profits at the parent company of Hartford-based United Bank slowed in the second quarter due to unforeseen expenses, but growth is shaping up solid for the rest of the year.
United Bank to Purchase Six Branches from Webster Bank
The parent company of Hartford-based United Bank announced last week that it will acquire six branches from Waterbury-based Webster Bank, a move that will allow it to increase its presence in existing coverage areas and expand into new markets.
After Profitable Quarter, United Bank to Take More Conservative Approach
The parent company of Hartford, Connecticut-based United Bank reported strong profits in the first quarter of 2018, but is planning to take a more conservative approach for the rest of the year due to compressed credit spreads and a lower margin.
Bank CRE Concentrations Remain High
It’s no secret that commercial real estate concentrations at community banks have been on the rise. While regulators maintain a keen eye on the sector, their concerns do not seem
United Bank Parent Preparing to Add Branches to Boost Deposits
United Financial Bancorp, the parent company of Hartford-based United Bank, is planning to open more de novo branches in in 2018 in order to bring in more deposits to keep up with the bank’s loan growth.
United Financial Bancorp Experiences Deposit Pressure As Economy Strengthens
The strengthening economy has bank customers on the hunt for higher returns and is forcing banks to raise rates in order to protect deposits.
