M&T Bank, a financial holding company headquartered in Buffalo, completed the acquisition of People's United Financial, a financial holding company headquartered in Bridgeport, for $7.6bn. "Today marks an important day in M&T's history as we welcome People's United to our family. People's United is a strong strategic and cultural fit and I am truly excited about the positive impact our combined company will have in the communities we serve. Together, we have the capabilities and scale of a regional bank with the engagement model of a community-based organization to help us better serve new and existing customers, businesses and communities," René Jones, M&T Chairman and CEO. On March 4, 2022, M&T Bank receives regulatory approval from the Board of Governors of the Federal Reserve System for People's United merger.