John P. Costa Joins People's United Bank As Head Of New York Commercial Real Estate

NEW YORK, July 10, 2012 /PRNewswire/ -- People's United Bank announced today that John P. Costa has joined the bank's Commercial Banking group as Executive Vice President and head of the bank's New York commercial real estate business. Costa brings to the position over 30 years of banking experience focused on commercial real estate and multifamily lending and is responsible for expanding the bank's commercial real estate lending activities in the greater New York metro market.

Costa joins People's United Bank from Sovereign Bank/Banco Santander in New York City where he held positions of increasing responsibility for 11 years at the bank and its predecessor companies. Most recently Costa headed Santander Real Estate Capital where he led both new loan origination and the management of a $21 billion portfolio of real estate loans, the majority of which were secured by multi-family properties.

"We are pleased to have John join us to grow our lending activities in the metro New York market where we have been active for years," said Jeffrey Tengel, Senior Executive Vice President, Commercial Banking. "We are focused on expanding our presence as a strong, relationship-based, full-service commercial and retail bank in this market which is contiguous with and similar to our existing franchise in Westchester County and Connecticut, where we have built a strong and thriving brand over the past 170 years. John's proven experience and leadership make him an ideal leader to increase our presence in this market."

About People's United Bank

People's United Bank, a subsidiary of People's United Financial, Inc. (NASDAQ: PBCT), is the premier regional bank headquartered in the Northeast with approximately $28 billion in assets. People's United provides a full product suite of consumer, commercial banking and wealth management services through a network of 416 branches in Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine.

SOURCE People's United Bank