Hinckley Allen Representing First Connecticut Bancorp, Inc. in $544 Million Transaction
Hinckley Allen is representing First Connecticut Bancorp, Inc. (NASDAQ: FBNK), the holding company for Farmington Bank, in connection with First Connecticut Bancorp’s acquisition by People’s United Financial, Inc. (NASDAQ: PBCT), the holding company for People’s United Bank, N.A., in an all-stock transaction valued at approximately $544 million. Completion of the transaction is subject to customary closing conditions, including receipt of regulatory approvals and the approval of First Connecticut Bancorp, Inc. shareholders.
Farmington Bank is a full-service community bank with 28 branch locations throughout Central Connecticut and Western Massachusetts, offering commercial and retail banking as well as wealth management services.
People’s United Bank, founded in 1842, is a premier, community-based, regional bank in the Northeast offering commercial and retail banking, as well as wealth management services through a network of nearly 400 retail locations in Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine.
The Hinckley Allen team was led by William W. Bouton and David S. Hirsch, and included Daniel L. Gottfried, Arthur T. Corey and Kaitlin M. Humble.