approval from the Office of Thrift Supervision to acquire People's Savings Financial Corp. People's shareholders, who approved the proposed acquisition July 30, will receive 0.85 shares of Webster common stock for each People's share. The deal was valued at approximately $84 million. Seven of People's nine branches will remain open; two People's branches and one Webster branch will be consolidated. A Webster spokesman said the bank is open to negotiating mergers with other banks in the state. Based in New Britain, Conn., People's Savings is the $480 million-asset thrift holding company of People's Savings Bank and Trust. The thrift has $358 million of deposits and $257 million in loans. Webster Financial has $6.4 billion of assets and 80 Connecticut bank offices.

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