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.