People's United Financial Inc. remains interested in using excess capital for acquisitions — perhaps even in the Southeast, as analysts have speculated — according to the $20 billion-asset Bridgeport, Conn., company's chief executive.

"The capital isn't burning a hole in our pockets, so we don't need to do it tomorrow," Philip R. Sherringham, the CEO, said in an interview last week. If a transaction "makes sense," he might be open to looking in the Southeast.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.