Connecticut

M&T in New York, which is seeking regulatory approval to buy People’s United Financial, recently disclosed plans for around 1,000 layoffs. The backlash — focused on job cuts in the seller’s hometown of Bridgeport — has been stronger than in other recent deals.

Dean Marchessault will be succeeded by Senior Vice President Howard Brady at the East Hartford, Connecticut, credit union.

The Connecticut company, which began reviewing its operations in January, said the effort gained momentum when the coronavirus pandemic hit.

The Connecticut company recruited Robert Russell from Millington Bank to become its president and CEO.

The company acquired ResX Warehouse Lending from People's United Financial.

People's United in Connecticut is letting the loans run off its books as it invests in higher-yielding commercial loans.

Centreville Bank will pay $116 million in cash for PB Bancorp.

FASB delayed implementation for the majority of banks and credit unions until 2023, but many in the industry still oppose the rule, despite regulators' attempts to ease the path forward.

The accounting board delayed implementation for the majority of banks and credit unions until 2023.

With David Lucas retiring in November after nine years, industry veteran Edward Fox took the reins earlier this week.

James Farrell, who ran New Haven County Credit Union from 1992 to 2015, transferred funds from the CU's general ledger into the account of a local business.

Bruce Adams, who previously served as general counsel to Connecticut Lt. Gov. Nancy Wyman, will join the Credit Union League of Connecticut next month.

After FASB's decision to give most credit unions and banks extra time to prepare, lobbying groups are pushing for more.

After FASB's decision to give most banks extra time to prepare, lobbying groups are pushing for more.

The Connecticut company, which will top that asset milestone when it buys United Financial, says it could acquire more banks in coming months.

The Connecticut company will add heft in its home state and Massachusetts when it buys the former mutual.

Jill Nowacki has announced plans to enter the credit union consulting space. An interim leader has not yet been named.

Several credit union leagues and credit union service organizations have formed a new group, called AffirmXCU, that will offer risk management technology.

The Connecticut bank, which has been unable to complete a pending deal for an SBA platform, has managed to build the business anyway.

The $59 million-asset credit union has named a new CEO and chief operating officer.