People’s United Bank to sell eight of its branches to Bar Harbor Bank & Trust.

People’s United Bank agreed to sell eight of its branches to Bar Harbor Bank & Trust, a community bank. Financial terms were not disclosed. President and Chief Executive Officer of Bar Harbor Bank, Curtis C. Simard stated, “We are pleased to welcome our new colleagues, customers and communities to our already deep Maine roots. We look forward to servicing their banking and Wealth Management needs, and to providing our full suite of personal and commercial deposit and loan products. We believe this acquisition provides our existing and new customers enhanced convenience and underscores our commitment to Maine while expanding into contiguous markets in a sensible way. These branches stretch across the central Maine I-95 corridor with four branches in the greater Bangor market and includes all deposits from People’s central Maine territory.”