People’s United Bank to Sell Eight of its Branches to Bar Harbor Bank & Trust
07.09.19
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Simpson Thacher is representing People’s United Bank, N.A. in connection with the sale of eight of its branches to Bar Harbor Bank & Trust with approximately $287 million of deposits, $111 million of loans and $284 million of assets under management as of March 31, 2019. The transaction is subject to regulatory approvals and other customary closing conditions.
Bar Harbor Bankshares (NYSE American: BHB) is the parent company of its wholly owned subsidiary, Bar Harbor Bank & Trust. Founded in 1887, Bar Harbor Bank & Trust provides full-service community banking with office locations in all three Northern New England states of Maine, New Hampshire and Vermont.
The Simpson Thacher team includes Lee Meyerson, Janet Kyung-Ah Yu, Lauren Kim and Rui Xie (M&A); Jeannine McSweeney and Jason Fixelle (ECEB); Jonathan Goldstein and Sarah Katz (Tax); Krista McManus and Dennis Loiacono (Real Estate); and Spencer Sloan (Bank Regulatory).