PeoplesBank Opens New Branch in West Hartford, CT
PeoplesBank recently opened a new branch in West Hartford, CT, as part of a plan to expand its presence in Connecticut. The new location, located in the West Hartford Center, will provide customers with a wide range of banking services. A total of 22 interactive video tellers are located at 17 locations, enabling banking services outside of traditional hours. Customers can also use the bank’s interactive ATMs, which connect them with a live teller.
The branch features a full staff, including a mix of on-site and hybrid workers. Interactive Teller Machines, which enable customers to bank seven days a week, are available in the lobby. In addition, a variety of other services are offered in specialized offices. These include mortgage experts, wealth advisers, and ancillary services.
The new location will be a focal point for PeoplesBank’s retail business in Connecticut. Executives see the area as a perfect fit for the bank. It is a convenient location with a lot of foot traffic. This is especially true of the mall, Blue Back Square, which attracts shoppers in the mornings. Another draw is the proximity to downtown.
In addition to the branch, PeoplesBank has four other branches in Connecticut. They are located in Granby, Suffield, and West Suffield. Each one has a full staff and offers a wide variety of financial products and services. Currently, PeoplesBank has more than $278 million in deposits in Connecticut. However, the bank is looking to increase its deposits in the state by nearly two-thirds over the next four years.
PeoplesBank is an institution that is known for its strong commercial presence throughout western Massachusetts, New York, and Connecticut. In October 2020, the bank ranked 42nd in the Connecticut deposit market share. Approximately 60 percent of the bank’s commercial loan portfolio is in Connecticut.
With the recent influx of M&A activity, PeoplesBank is ready to make an impression in the state. PeoplesBank has entered the Connecticut retail banking market in 2018. As a result, it plans to expand its local presence over the next four years. Additionally, the company plans to give close to $60,000 to local organizations in the first month. Several nonprofits and organizations in the area have been chosen as sponsors, such as United Way of Connecticut and the West Hartford Senior Center. Some of the bank’s employees are natives of the region.
To accommodate customers’ needs, the West Hartford branch will offer expanded hours. Bankers will be on-hand until 7 p.m. Monday through Friday, and until 2 p.m. on weekends. In addition, the branch will feature an upscale hot beverage machine and cafe tables.
While PeoplesBank is a major player in the New York metropolitan area, it has a long history of service in Connecticut. According to Tom Senecal, president of the bank, PeoplesBank’s Connecticut footprint is expanding because the company is responding to the needs of its consumers.
One of the bank’s goals is to create a sense of community, something that is particularly important to residents of the Greater Hartford area. In addition to sponsoring community events, PeoplesBank is giving money to charities, food banks, and nonprofit organizations.
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