People's United Financial Inc. in Bridgeport, Conn., has completed its purchases of LSB Corp. and Smithtown Bancorp Inc.
The $25 billion-asset company said Tuesday that the federal Office of Thrift Supervision had approved the transactions on Nov. 15. People's bought Smithtown, a $2.3 billion-asset company in Smithtown, N.Y., for $3.77 a share. Smithtown also had 30 branches around New York City.
People's bought the $800 million-asset LSB in North Andover, Mass., for $21 a share, or $94.8 million. LSB's River Bank had seven branches in Massachusetts and New Hampshire.
