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About half a year ago PUB took over a fantastic bank, Danversbank.  The service was excellent and the rewards checking was a nice account. When they lowered rates they would let you know in advance. Now unfortunately, the customer service over the phone is not the same. I understand that they did not have a rewards checking and that they appear to be phasing it out. They do not provide a heads up on the rates lowering. You unfortunately find it out when you see your interest posted.  They should at least have the courtesy like the other rewards banks I have worked with to give you a heads up prior to the next months posting. I have asked if they would send an email at the beginning of the monthly interest period if the rates are going to be lowered or at a different rate but they said they do not have to.   I wish them well but I expect to look for a more family oriented bank in the near future.

Owen4444 Is Right - It's Time To Leave People's United Bank

I was a Danversbank customer, using the rewards checking account for a number of years. Of course, banks use rewards checking accounts to bring in new accounts and make themselves more attractive for acquisitions, which is exactly what happened with Danvers. 

People's United did indeed lower the rates to a psaltry 0.25%, without providing any notice to customers. This is not a competitive rate and I will of course be moving my money and closing my account this month.

Good People At Peoples

People's Bank is a convenience bank located throughout the Northeast. I started banking with them (checking and savings) five years ago when I started college. It has been nothing but your average bank with average accounts. The interest is what you gather is comparable with any other bank in the nation, and the fees they charge per account (nothing for me because I hold the minimum requirements) are in line as well. This bank has the upper hand when it comes to availability. They are open seven days a week which makes getting to the bank easy as pie. Their hours are longer during the week; they close at 7PM Monday through Friday, so swinging by after work is still an option. I have been to roughly a half dozen or so locations to cash checks, get to an ATM, etc. and I have yet to have a problem with their staff. People's has my business and will continue for years to come.

Big Aspirations, Small Competence

Peoples United Bank was a good back a few years back. But they have been trying to expand and grow into a major player. Unfortunately, the competence of their staff just doesn't stand up to their aspirations. The bank staff are actually fairly nice people, however, their high turnover and internal promotions has left most of the staff improperly trained or not yet qualified for the position they are filling. After about 4 years of problems with my account, I have had the last straw. A minor change to my account ended up screwing up the whole account entirely. My interest yield went down more than half, I received 3 new ATM card with different PIN mailings. The account manager denied any responsibility and refused to provide remedy.



Data for Q2 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of June 30, 2014 People's United Bank had $328.87 million in non-current loans and owned real-estate with $4.85 billion in equity and loan loss allowances on hand to cover it. This gives People's United Bank a Texas Ratio of 6.79% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for People's United Bank decreased slightly from 8.90% as of June 30, 2013 to 6.79% as of June 30, 2014, resulting in a positive change of 23.74%.This indicates that the balance sheet and financial strength for People's United Bank has improved slightly in recent periods.

Deposit Growth


In the past year, People's United Bank has increased its total deposits by $2.11 billion, resulting in 9.6% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth People's United Bank has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. People's United Bank has $33.66 billion in assets with $4.85 billion in equity, resulting in a capitalization level of 14.40%, which is excellent.

Institution Statistics

FDIC Certificate #27334
Year Established1988
Primary RegulatorOCC
Assets and Liabilities
Assets$33.66 billion
Loans$25.32 billion
Deposits$24.11 billion
Equity Capital$4.65 billion
Loan Loss Allowance$192.60 million
Unbacked Noncurrent Loans$300.11 million
Real Estate Owned$28.76 million
Historic Data - June 2013
Assets$31.09 billion
Equity Capital$4.56 billion
Loan Loss Allowance$185.67 million
Unbacked Noncurrent Loans$300.11 million
Real Estate Owned$26.38 million
Profit Margin - Quarterly
Return on Assets0.79%
Return on Equity5.64%
Interest Income$525.04 million
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People's United Bank CD Rates

1.00%$500-5 Year Plus CD
0.90%$500-4 Year Plus CD
0.80%$500-3 Year Plus CD
0.40%$500-2 Year Plus CD
0.40%$500-18 Month Plus CD
0.30%$500-1 Year Plus CD
0.30%$500-15 Month Plus CD
0.25%$500-11 Month Plus CD
0.20%$500-10 Month Plus CD
0.15%$500-91 Day Plus CD
0.15%$500-4 Month Plus CD
0.15%$500-5 Month Plus CD
0.15%$500-6 Month Plus CD
0.15%$500-7 Month Plus CD
0.15%$500-8 Month Plus CD
0.15%$500-9 Month Plus CD

People's United Bank has 420 locations. Click to view all People's United Bank locations.