News & Events

The Firm is representing People’s United Financial, Inc. ("People’s United"), the holding company for People’s United Bank, in two acquisitions announced on July 15, 2010. People’s United has agreed to acquire Smithtown Bancorp, Inc., the holding company for Hauppauge, NY-based Bank of Smithtown ($2.4 billion in assets). People’s United has also agreed to acquire LSB Corporation, the holding company for North Andover, Massachusetts-based RiverBank ($800 million in assets).

Both transactions are subject to customary closing conditions, including the receipt of regulatory approvals and the approval of the shareholders of Smithtown Bancorp and LSB Corporation, respectively. Both transactions are expected to close in the fourth quarter 2010. The aggregate transaction value is approximately $156 million.

The Simpson Thacher team for the Smithtown Bancorp transaction includes: Lee Meyerson, Elizabeth Cooper and Ralph Eissler (M&A); Samantha Shipp and summer associate Sophia Karas (Executive Compensation and Employee Benefits); Gary Mandel, Jonathan Goldstein and Amie Broder (Tax); and Mark Chorazak (Bank Regulatory). The team for the LSB Corporation acquisition includes: Lee Meyerson, Shalini Aggarwal and Brandon Mason (M&A); Samantha Shipp (Executive Compensation and Employee Benefits); Gary Mandel, Jonathan Goldstein and Danny Salinas (Tax); and Mark Chorazak (Bank Regulatory).