According to the "DanversBank Rewards Checking Monthly Summary" email which was sent out on Friday 10/14:
"For the monthly qualification cycle beginning 09/23/11 and ending 10/24/11, your account qualified."
The interest posted in People's Bank on 10/14/11 does NOT compute to 3% APY for these cycle dates - it computes out to ~ 2% APY - about 2/3 of the monthly cycle interest.
Therefore, People's has posted the interest earned only while under DanversBank.
The remaining 10 days of interest are still due, presumably to be paid on 10/24/11, if this 10 days interest rate is > 0.
There is an online rate sheet at People's United Bank - Deposit Rates
but does not display the rates for Reward Checking.
There is a mention of the Reward Accounts at People's United Bank - Information Guide - Accounts and Services
with no details.
Not only the interest rate, but even the requirements may change on Oct 24. But banks are required to notify customers in advance for rule changes.