CONNECTICUT, USA — In an email sent out to customers, People's United Bank announced it will exiting from its indoor Connecticut and New York Stop & Shop locations.
The company says the move is anticipated to happen in several years and the details of the exact timing of the exit are being finalized.
"Although the Stop & Shop relationship has provided meaningful value to the Bank and our customers over the years, customer banking preferences and retail shopping behaviors have significantly evolved," read the letter.
The company also cited the move will allow it to invest in its digital capabilities and strengthen its branch network. A 90-day notice before the branch is closed will be provided to customers. Anyone with questions on the exit from Stop & Shop is asked to call 877-972-2244.
