| Market Capitalization (Millions $) |
- |
| Shares
Outstanding (Millions) |
425 |
| Employees |
6,499 |
| Revenues (TTM) (Millions $) |
1,941 |
| Net Income (TTM) (Millions $) |
605 |
| Cash Flow (TTM) (Millions $) |
6,346 |
| Capital Exp. (TTM) (Millions $) |
29 |
Business Description
Company Profile: People’s United Financial, Inc.
Overview
People’s United Financial, Inc. is a leading savings and loan holding company incorporated under the state laws of Delaware. The company was established to facilitate the conversion of People’s Bank and People’s Mutual Holdings from a mutual holding company structure to a fully public stock holding company structure. This conversion was successfully completed on April 16, 2007, marking a significant milestone in the companys history. Following this transition, People’s Mutual Holdings was merged into People’s Bank, which became a wholly-owned subsidiary of People’s United Financial. The bank operates under the name “People’s United Bank,” headquartered in Bridgeport, Connecticut.
Core Business Activities
People’s United Financial primarily focuses on providing a comprehensive range of financial services through People’s United Bank and its subsidiaries. The core offerings include:
1. Commercial Banking: This segment encompasses commercial and industrial lending, commercial real estate lending, and commercial deposit services. It also includes equipment financing through People’s Capital and Leasing Corp. cash management services, and municipal banking.
2. Consumer Financial Services: This segment provides various services aimed at individual customers, including consumer deposit gathering, residential mortgage lending, home equity loans, and other consumer lending products. Additionally, it offers trust services, brokerage services, financial advisory, investment management, and life insurance through People’s Securities, Inc.
Specialized Services
In addition to traditional banking activities, People’s United Bank delivers specialized financial services tailored to specific customer needs. These services include:
- Personal, institutional, and employee benefit trust services
- Cash management solutions
- Municipal banking and finance services
Through its non-bank subsidiaries, the company extends its portfolio to include brokerage, investment management, and life insurance services, as well as equipment financing options.
Business Segments
People’s United Bank categorizes its operations into two primary segments:
- Commercial Banking: Focused on lending and deposit services for commercial enterprises, this segment plays a crucial role in the bank’s revenue generation.
- Consumer Financial Services: Catering to individual customers, it emphasizes deposit collection, mortgage services, and related financial products.
In addition, the Treasury department manages the securities portfolio, short-term investments, and wholesale funding activities for both People’s United Financial and People’s United Bank.
Market Presence
While People’s United Bank primarily operates within the state of Connecticut, its equipment financing arm, People’s Capital and Leasing, services a broader customer base across 48 states, illustrating the bank’s reach beyond its core geographic market.
Conclusion
People’s United Financial, Inc. stands out as a reputable financial institution, dedicated to offering diverse financial services that cater to various sectors, including individuals, businesses, and municipalities. Its comprehensive service offerings, along with a strong regional presence, position it well in the competitive financial services landscape.
Company Address: 850 Main Street Bridgeport 6604 CT
Company Phone Number: 338-7171 Stock Exchange / Ticker: NASDAQ PBCT
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