Exhibit 99.1



People’s United Financial Reports Fourth Quarter Net Income of $137.5 Million, or

$0.31 per Common Share

Operating Earnings of $0.37 per Common Share



Completed the acquisition of United Financial on November 1st.



Return on average assets of 0.98 percent, or 1.13 percent on an operating basis, and return on average tangible common equity of 12.8 percent, or 15.2 percent on an operating basis.



Net interest margin of 3.14 percent, expanded two basis points linked-quarter and benefited from a 13 basis point reduction in deposit costs.



Efficiency ratio of 53.7 percent, improved 310 basis points linked-quarter, reflecting well-controlled expenses and higher revenues, particularly continued strong non-interest income results.



Period-end loans increased 12 percent linked-quarter driven by the United Financial acquisition and solid commercial organic growth, partially offset by a planned reduction of residential mortgage balances.

BRIDGEPORT, CT., January 16, 2020 – People’s United Financial, Inc. (NASDAQ: PBCT) today reported results for the fourth quarter and full year 2019. These results along with comparison periods are summarized below:


($ in millions, except per common share data)                               
     Three Months Ended     Twelve Months Ended  
     Dec. 31, 2019     Sep. 30, 2019     Dec. 31, 2018     Dec. 31, 2019     Dec. 31, 2018  

Net income

   $ 137.5     $ 135.1     $ 132.9     $ 520.4     $ 468.1  

Net income available to common shareholders

     134.0       131.6       129.4       506.3       454.0  

Per common share

     0.31       0.33       0.35       1.27       1.29  

Operating earnings1

     158.8       135.5       134.2       552.1       461.4  

Per common share

     0.37       0.34       0.36       1.39       1.31  
















Net interest income

   $ 382.7     $ 348.7     $ 332.6     $ 1,412.3     $ 1,236.0  

Net interest margin

     3.14     3.12     3.17     3.14     3.12

Non-interest income

     124.2       106.0       88.7       431.1       366.4  

Operating non-interest income1

     116.6       106.0       98.7       423.5       376.4  
















Non-interest expense

   $ 325.7     $ 281.4     $ 262.7     $ 1,162.7     $ 996.1  

Operating non-interest expense1

     286.6       276.4       254.7       1,097.1       984.7  

Efficiency ratio

     53.7     56.8     55.1     55.8     57.4
















Average balances



   $ 42,006     $ 38,317     $ 35,016     $ 38,419     $ 32,854  


     42,195       38,657       35,959       39,143       33,601  

Period-end balances



     43,596       38,781       35,241      


     43,590       38,574       36,159      












See Non-GAAP Financial Measures and Reconciliation to GAAP beginning on page 16.

“We are very pleased with the Company’s financial and operating performance in 2019,” said Jack Barnes, Chairman and Chief Executive Officer. “It was another noteworthy year for People’s United as we acquired two banks and a specialty finance company, enhanced our suite of banking technology and further strengthened core capabilities. As a result, we continued to build the earnings power of the Company as evidenced by a 20 percent increase in full year operating earnings from a year ago and an operating return on average tangible common equity of 14.7 percent. In addition, operating earnings per common share of $1.39 increased for the tenth consecutive year. While we have almost tripled total assets to nearly $60 billion over the last ten years, we have

The following information was filed by People's United Financial, Inc. (PBCT) on Friday, January 17, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate People's United Financial, Inc.'s financial trajectory

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