People's United Financial, Inc.

People's United Financial, Inc. is a savings and loan holding company based out of Bridgeport, Connecticut. The company can trace its history back to 1842 when the People’s Bank was created as a savings bank. The company would grow through both organic means and through mergers including Bridgeport Savings Bank in 1927, Southport Savings Bank in 1955, People’s Bank of Vernon in 1983, First Federal Savings Bank in 1986, and Norwich Financial Corp. in 1998, among others. The People’s Bank would operate until 2007, when the bank renamed itself to the People’s United Bank in 2007, the same year that the bank acquired Chittenden Corporation for $1.9 billion. Most recently, People's United Financial acquired Danvers Bancorp Inc. in 2011. People's United Financial acts as the parent company of People’s United Bank and currently operates with over 4,700 total employees. The company’s investment management business is operated through its subsidiary division, the People's United Financial Inc., Wealth Management and Trust Division which utilizes internal research to invest in the public equity and fixed income markets on a global scale. People's United Financial allocates its assets across a wide range of sectors, investing most heavily in the finance and information technology sectors, each of which makes up over a sixth of the firm’s total asset allocations, and also invests in the health care, consumer discretionary, industrials, consumer staples, and energy sectors, among other sectors to a lesser degree, in order of decreasing allocation. The company holds its allocations for 13.4 quarters on average and holds its top 10 allocations, which makes up just under a quarter of its total holdings, for 12.2 quarters on average. In the most recent quarter People's United Financial had a turnover rate of 11.7%. People's United Financial operates with over 4,00 total branches and manages over $39 billion in total assets.