BRIDGEPORT, Conn. and
DANVERS, Mass. May 24, 2011 /PRNewswire/ -- People's United
Financial, Inc. (NASDAQ: PBCT) and Danvers Bancorp, Inc. (NASDAQ:
DNBK) today announced that the deadline for Danvers stockholders to make elections
regarding the form of merger consideration to be received in
connection with the pending merger of Danvers with and into People's United will
expire at 5:00 p.m., New York Time,
on June 2, 2011. The closing of
the merger, which remains subject to approval by the Office of the
Massachusetts Commissioner of
Banks and the Massachusetts Board
of Bank Incorporation and the satisfaction or waiver of other
customary closing conditions, has not yet been scheduled.
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A more complete description of the merger consideration and the
proration procedures applicable to elections is contained in the
proxy statement/prospectus dated April 1,
2011 and mailed to Danvers
stockholders of record on or about April 8,
2011. Danvers stockholders are urged to read the proxy
statement/prospectus carefully and in its entirety. Copies of
the proxy statement/prospectus may be obtained for free by
following the instructions below under "Additional Information
About the Merger and Where to Find It."
Additional Information About the Merger and Where to Find It
In connection with People's United's proposed acquisition of
Danvers, People's United has filed
a registration statement on Form S-4 with the Securities and
Exchange Commission containing a proxy statement/prospectus dated
April 1, 2011, which has been mailed
to Danvers stockholders.
Investors are urged to read these materials, and any other
documents filed by People's United or Danvers with the SEC, because they contain or
will contain important information about People's United,
Danvers and the merger. The
proxy statement/prospectus and other relevant materials, and any
other documents filed by People's United with the SEC, may be
obtained free of charge at the SEC's website at www.sec.gov.
The definitive proxy statement/prospectus and the other
documents may also be obtained for free by accessing People's
United's website at www.peoples.com under the tab "Investor
Relations" and then under the heading "Financial Information" or by
accessing Danvers' website at
www.danversbank.com under the tab "Investor Relations" and then
under the heading "SEC Filings." In addition, investors may
obtain free copies of the documents filed with the SEC by People's
United by directing a written request to People's United Financial,
Inc., 850 Main Street, Bridgeport,
Connecticut 06604, Attn: Investor Relations.
People's United Financial, a diversified financial services
company with $25 billion in assets,
provides commercial banking, retail and business banking, and
wealth management services through a network of 341 branches in
Connecticut, Vermont, New
York, New Hampshire,
Maine and Massachusetts. Through its subsidiaries,
People's United Financial provides equipment financing, asset
management, brokerage and financial advisory services, and
insurance services.
Danversbank is a wholly-owned subsidiary of Danvers Bancorp,
Inc., a holding company with approximately $2.9 billion in total assets. Danvers Bancorp,
Inc., through Danversbank, offers a wide range of commercial and
retail banking services, including commercial and industrial loans,
commercial real estate loans, owner-occupied residential mortgages
and consumer loans, cash management, debit and credit card
products, online banking, and non-deposit investment products and
investment management services. Danversbank operates a total of 28
branches in the following communities: Andover, Beverly, Boston, Cambridge, Chelsea, Danvers, Hamilton, Malden, Manchester-by-the-Sea, Middleton, Needham, Peabody, Reading, Revere, Salem, Saugus, Topsfield, Waltham, Wilmington, and Woburn, Massachusetts.
SOURCE People's United Financial, Inc.; Danvers Bancorp,
Inc.
