BRIDGEPORT, Conn. — People's United Financial here said it would acquire 56 branches of Citizens Bank, including 52 in Stop & Shop stores on Long Island and in Westchester County, N.Y.
People’s United already operates 87 branches in Stop & Shop stores in Connecticut.
"Our success with in-store banking is based on the connection between a strong, relationship-based, traditional branch network and the unparalleled convenience and full range of products and services that we offer at Stop & Shop locations," Jack Barnes, president and chief executive officer of People’s United, said in a statement. "The bank's strong partnership with Stop & Shop allows us to leverage our brand with the approximately 2.7 million shoppers who visit Long Island, southern New York and Connecticut Stop & Shop stores every week.”
