BRIDGEPORT, Conn., April 20 /PRNewswire-FirstCall/ -- People's Bank
(Nasdaq: PBCT), an $11 billion financial services company, today announced
that its Board of Directors has authorized a 3-for-2 stock split effective on
May 15, 2005 for shareholders of record as of May 1, 2005.
President and Chief Executive Officer John A. Klein stated, "The decision
by the Board of Directors to authorize a stock split reflects management's
positive outlook for People's future."
People's will announce first quarter 2005 results on Thursday, April 21,
2005 in conjunction with its Annual Meeting of Shareholders.
People's Bank is a diversified financial services company providing
consumer and commercial banking services, in addition to insurance and
financial advisory services. The bank is a leader in supermarket banking, with
67 of its 154 branches located in Super Stop & Shop stores. Through its
subsidiaries, People's provides brokerage and financial advisory services,
asset management, equipment leasing and financing, and insurance services.
Certain statements contained in this release are forward-looking in
nature. These include all statements about People's plans, objectives,
expectations and other statements that are not historical facts, and usually
use words such as "expect," "anticipate," "believe" and similar expressions.
Such statements represent management's current beliefs, based upon information
available at the time the statements are made, with regard to the matters
addressed. All forward-looking statements are subject to risks and
uncertainties that could cause People's actual results or financial condition
to differ materially from those expressed in or implied by such statements.
Factors of particular importance to People's include (1) changes in general
economic conditions, including interest rates; (2) potential improvements or
deterioration in credit quality; (3) competition among providers of financial
services; (4) residential mortgage and secondary market activity; (5) changes
in accounting and regulatory guidance applicable to banks; and (6) price
levels and conditions in the public securities markets generally. People's
does not undertake any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.
Access People's Bank on the World Wide Web at http://www.peoples.com .
It's Possible @ People's.
SOURCE People's Bank
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Related links:
http://www.peoples.com
Company News On-Call:
http://www.prnewswire.com/comp/113252.html
CONTACT:
Vincent J. Calabrese, Senior Vice President
and Controller, +1-203-338-4114 fax, +1-203-338-2362,
vince.calabrese@peoples.com, or Valerie C. Carlson, Vice
President, Corporate Communications, +1-203-338-2351, fax,
+1-203-338-3461, valerie.carlson@peoples.com, both of People's
Bank
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