BRIDGEPORT, Conn. and
DANVERS, Mass., June 28, 2011 /PRNewswire/ -- People's United
Financial, Inc. (NASDAQ: PBCT) and Danvers Bancorp, Inc. (NASDAQ:
DNBK) today announced that their proposed merger was approved by
the Office of the Massachusetts
Commissioner of Banks and the Massachusetts Board of Bank Incorporation on
June 27, 2011. The transaction
was previously approved by Danvers Bancorp shareholders on
May 13 and by the Office of Thrift
Supervision on May 16. The closing of
the merger is expected to occur on June
30, 2011.
Additional Information About People's United and Danvers
People's United Financial, a diversified financial services
company with $25 billion in assets,
provides commercial banking, retail and business banking, and
wealth management services through a network of 341 branches in
Connecticut, Vermont, New
York, New Hampshire,
Maine and Massachusetts. Through its subsidiaries,
People's United Financial provides equipment financing, asset
management, brokerage and financial advisory services, and
insurance services.
Danversbank is a wholly-owned subsidiary of Danvers Bancorp,
Inc., a holding company with approximately $2.9 billion in total assets. Danvers Bancorp,
Inc., through Danversbank, offers a wide range of commercial and
retail banking services, including commercial and industrial loans,
commercial real estate loans, owner-occupied residential mortgages
and consumer loans, cash management, debit and credit card
products, online banking, and non-deposit investment products and
investment management services. Danversbank operates a total of 28
branches in the following communities: Andover, Beverly, Boston, Cambridge, Chelsea, Danvers, Hamilton, Malden, Manchester-by-the-Sea, Middleton, Needham, Peabody, Reading, Revere, Salem, Saugus, Topsfield, Waltham, Wilmington, and Woburn, Massachusetts.
SOURCE People's United Financial, Inc.