When Will People's United Resume Making Acquisitions?
Prior to the pandemic, People's United Financial (NASDAQ: PBCT) had been on an acquisition run that looked like it was just getting started.
Revisions to the Dodd-Frank Act in 2018 greatly increased the asset threshold for banks to be considered "systemically important financial institutions." That freed People's United -- currently around $60 billion in assets -- to grow without having to take on additional regulatory burdens. Between June 2018 and July 2019, the Connecticut-based bank announced that it would acquire three smaller banks, and I think investors were starting to come around to the bank's acquisition model.
The coronavirus pandemic has put this on hold, but will People's United soon be able to get back to acquisitions? Let's take a look.
Source Fool.com
