BRIDGEPORT, Conn., Oct. 21, 2016 /PRNewswire/ -- People's
United Financial, Inc. (NASDAQ: PBCT) ("People's United" or the
"Company") announced today the release of its 2016 company-run
stress test results. In accordance with the Dodd-Frank Wall
Street Reform and Consumer Protection Act, People's United is
required to conduct annual stress tests ("DFAST") to assess the
potential effect of hypothetical economic scenarios on earnings and
capital. The results of the Company's 2016 DFAST indicate
that both People's United and its subsidiary, People's United Bank,
N.A., will have the financial resources to successfully navigate a
severe and protracted economic downturn and will maintain capital
levels that exceed regulatory minimums throughout the nine quarter
planning period under the Federal Reserve's Supervisory Severely
Adverse Scenario.
The Company's disclosures of projected results, risks and
assumptions are hypothetical and made in accordance with regulatory
requirements. The stress scenario, risks and financial
results do not necessarily reflect the Company's future
expectations of results of operations and are not intended to be
the Company's forecast of future economic or financial conditions,
but rather reflect potential results under the Federal Reserve's
Supervisory Severely Adverse scenario. The results can be
found in the Investor Relations section of the Company's web site
at www.peoples.com.
People's United Financial, Inc., a diversified financial
services company with $41 billion in
total assets, provides commercial and retail banking, as well as
wealth management services through a network of approximately 400
branches in Connecticut,
New York, Massachusetts, Vermont, New
Hampshire and Maine. Through its subsidiaries,
People's United Financial provides equipment financing, brokerage
and insurance services.
Access Information About People's United Financial at
www.peoples.com.
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SOURCE People's United Financial, Inc.