New Name Reinforces Commitment to Customers, Communities
BRIDGEPORT, Conn., June 7 /PRNewswire-FirstCall/ -- People's Bank
announced today that, effective the close of business June 6, it changed
its name to People's United Bank to accommodate its plans for growth.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070607/NYTH047LOGO )
People's United Financial, Inc., the bank's parent holding company,
recently completed its second-step conversion to become a fully public
company. It raised $3.44 billion in an equity offering and is looking to
grow in both new and existing markets.
Customers will be notified of the change in the coming days through a
letter from People's United Chairman and Chief Executive Officer John A.
Klein. Branch signage will change statewide throughout the summer.
With a new name, the bank is also adopting a new logo. Executed in two
colors, the new logo is comprised of the People's United Bank name and an
ellipse that unites all three words.
"In Connecticut, we remain the bank that families and businesses have
turned to for generations," Klein said. "At the same time, we are looking
to expand into other nearby states so we can provide current and new
customers with opportunities to experience the superior levels of service
that our customers have come to expect.
"As part of our growth, and to make our name more distinctive outside
of Connecticut, we are proud to announce that we're changing our name to
People's United Bank. Our new name emphasizes the absolute commitment all
of us at People's United Bank have to our customers and communities," Klein
added. "Our new name reflects what we have always been -- one team, united
in its commitment to provide our customers with unparalleled ease,
convenience and a consistently superior customer experience."
Since its founding as the Bridgeport Savings Bank in 1842, the bank has
only changed its name three times. Each name change accommodated growth, as
does the change announced today. The bank previously changed its name in
1927, 1955 and 1983. In 1927, the Bridgeport Savings Bank merged with the
People's Savings Bank and the resultant bank was known as the Bridgeport-
People's Savings Bank. In 1955, the Bridgeport-People's Savings Bank merged
with the Southport Savings Bank and selected People's Savings
Bank-Bridgeport as its new name. In 1983, after purchasing the People's
Bank of Vernon, People's Savings Bank-Bridgeport changed its name to
People's Bank.
Founded in 1842, People's United Bank (peoples.com) is one of
Connecticut's largest banks with assets of $14 billion, more than 240 ATMs
and 159 branches, 75 of which offer convenient seven-day banking in Super
Stop & Shop locations across the state. A diversified financial services
company, People's United Bank provides consumer, commercial, insurance,
retail investment and wealth management and trust services to personal and
business banking customers. People's United Bank is the official banking
partner of the University of Connecticut's Division of Athletics. For more
information about People's United, its products and services, please call
800-772-1090, visit peoples.com or any of People's United's branches.
[Editor's note: Included with this release are a two-color image of the
new logo and a timeline enumerating the major milestones in the history of
People's United Bank. Access http://www.peoples.com/logohistory for a table
of the logo changes People's United has made since its inception.]
PEOPLE'S UNITED BANK TIMELINE OF HISTORIC MILESTONES
1842 Bridgeport Savings Bank chartered
1900 Bank assets totaled nearly $4 million
1918 Completed headquarters building at State and Main Streets in
Bridgeport
1927 Bridgeport Savings Bank and People's Savings Bank merge;
resultant bank named Bridgeport-People's Savings Bank
1953 First branch opens in Stratford
1955 People's Savings Bank merges with Southport Savings Bank;
resultant bank named People's Savings Bank-Bridgeport
1965 People's Savings Bank-Bridgeport moves into new 11-story
headquarters building on Main Street in Bridgeport
1981 People's Savings Bank-Bridgeport acquires assets of First
Stamford Bank and Trust Company
1982 People's Savings Bank-Bridgeport acquires Guardian Federal
Savings and Loan Association of Bridgeport
1983 People's Savings Bank-Bridgeport merges with New Haven-based
National Savings Bank, Hartford-based State Bank for Savings, and
Vernon-based People's Bank. People's Savings Bank-Bridgeport
assumes People's Bank name
1985 People's Bank begins offering Visa and MasterCards
1986 People's Bank acquires Norwalk-based First Federal Savings Bank
1988 People's Bank establishes People's Mutual Holdings, a mutual
holding company owning approximately 58 percent of People's Bank
shares; Remaining 42 percent of People's bank shares begin active
trading on the NASDAQ exchange under ticker symbol PBCT
1989 People's Bank opens new 16-story headquarters building designed
by Richard Meier
1991 People's Bank acquires deposits of Hartford-based Landmark Bank
1995 People's Bank enters into exclusive relationship with Stop & Shop
supermarket chain to operate branches in all Super Stop & Shop
stores in Connecticut
1998 People's Bank acquires Norwich Financial Corp., the parent
company of the Norwich Savings Society
2004 People's Bank sells its credit card division to the Royal Bank of
Scotland. All employees maintain jobs in Bridgeport
2006 People's Bank changes its charter from a state-chartered bank to
a nationally-chartered savings bank and announces plans for a
second-step conversion to a company owned fully by shareholders
2007 People's Bank completes second-step conversion; changes name to
People's United Bank
SOURCE People's United Bank
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Related links:
http://www.peoples.com
http://www.peoples.co http://www.prnewswire.com
Photo Notes:Newscom:
http://www.newscom.com/cgi-bin/prnh/20070607/NYTH047LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
http://www.prnewswire.com/comp/113252.html /
CONTACT:
Brent Di Giorgio, Corporate Communications of
People's United Bank, +1-203-338-3135, or Fax, +1-203-338-3461,
or bsdigio@peoples.com
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