Chandler Howard thumb 216x277 2359MIDDLETOWN: Forbes Magazine has recognized Liberty Bank as one of “America’s Best Banks”.

Forbes, says it conducted an independent study with the analytics firm Statista, to survey bank customers across the country. More than 25,000 respondents rated trustworthiness, digital services, financial advice, branch services and general satisfaction. According to Forbes banks receiving the highest ratings were awarded the title “Best-In-State” for 2018.

A Liberty release said, “this outstanding honor is a direct reflection of customer opinions and satisfaction toward Liberty Bank in Connecticut.”

farmingtonbankBRIDGEPORT: People's United Financial, Inc. [NASDAQ:PBCT], the holding company for People's United Bank, N.A., is acquiring Farmington based First Connecticut Bancorp, Inc. [NASDAQ:FBNK], the holding company for Farmington Bank.

Shareholders will receive stock in PBCT and the companies are valuing the transaction at approximately $544 million.

People's is the largest bank headquartered in Connecticut and has $44 billion in assets and 400 retail locations in Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine.

Farmington Bank established in 1851 as a mutual bank was converted to a public company in 2011. The bank has 26 locations in Connecticut and 2 in Western Massachusetts and $3.1 billion in assets. 

CarolynWelchGROTON: Chelsea Groton Bank’s Carolyn Welch has been promoted to Senior Vice President, Commercial Lending Manager. Welch will lead the bank’s commercial lending team.

“In Carolyn’s relatively short time with Chelsea Groton Bank, she has performed extremely well, developing new business for the Bank in the greater Hartford and New Haven counties, as well as in New London County,” said Tony Joyce, Executive Vice President, Senior Loan Officer at Chelsea Groton Bank. “She will now be in a position to help others on the Commercial team to aggregate business relationships in a similar way. Her prior experience as a Commercial Lending team leader will serve her well in this new capacity.”

GoodwinSquare2GLASTONBURY: United Bank [United Financial Corp, NASDAQ: UNBK] is making a big deposit in downtown Hartford. William H. W. Crawford, IV, CEO is relocating the bank’s headquarters from Glastonbury to 68,000 square feet at Goodwin Square, 225 Asylum Street, in downtown.

The move will occur in the third quarter of this year and will bring 200 employees to the city. United Bank currently occupies 48,000 square feet of space at 45 Glastonbury Boulevard. Still under lease, the bank is seeking to sublet the space. Bank officials cited a very tight office market in town as one reason for the relocation.

. BRIDGEPORT, People's United Financial, Inc. (NASDAQ: PBCT),) received approval for its purchase of Suffolk County National Bank, of Riverhead, NYThe transaction, was first announced June 27, 2016 and approved by the shareholders of Suffolk in October.

People's United is Connecticut’s largest state based bank with $41 billion in assets, the Suffolk acquisition adds another $2 billion to the till. People’s United has nearly 400 branches in Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine.

For more information, visit us at peoples.com.