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[QUOTE="Da_Aisijimo_Gou, post: 3860868, member: 264"]
M&T buying PBCT represents further evidence mid-sized US banks recognize need to either expand or to become less competitive with the largest mid-size banks and big 4 US banks. Other similar mergers: BB&T+Suntrust=Truist, PNC buys BBVA US ops, HBAN-TCF, etc.

On the surface, Buffalo-based M&T buyout appears positive for PBCT shareholders selling on the announcement. Potentially, not as good for PBCT employees nor the Park City unless M&T opts to keep some PBCT businesses in Bridgeport. Or, shifts M&T work from lower-cost Buffalo to CT. ???

M&T reports: "[I]As part of the transaction, People's United's current headquarters in Bridgeport, Connecticut will [/I](MY EDIT: initially) [I]become the New England regional headquarters for M&T, further strengthening the combined company's commitment to Connecticut and the region.[/I]"
[URL='https://newsroom.mtb.com/2021-02-22-M-T-Bank-Corporation-Announces-Agreement-to-Acquire-Peoples-United-Financial-Inc']M&T Bank Corporation Announces Agreement to Acquire People's United Financial, Inc.[/URL]
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