Area People's branches to remain open

TORRINGTON — Area banks will be spared as People’s United Financial closes 20 branches in New England this summer.
“Torrington and Winsted banks will remain open,” said People’s United Financial Spokesman Valerie Carlson on Monday.The banking giant announced last week it was eliminating 420 jobs, about 8 percent of its work force, to save $57 million a year. As part of the cost cutting measures, the bank announced it would be closing branches in Connecticut, Massachusetts, Vermont and New Hampshire this summer.After reviewing three local branches, the company decided against the closing.
There will be banks in Connecticut closing their doors, Carlson said, although, at this time, she would not comment on their locations.“When making the decision we looked at the flow of customer traffic and the distance between other branches,” Carlson said. “Our customers with accounts in Torrington and Winsted can rest assured they will continue to receive the great service they are accustomed to.”
Peoples Bank has two branches in Torrington, one inside Stop & Shop on High Street the other at 1625 East Main St. The Winsted branch is at 200 New Hartford Road.Officials reached at area branches Monday declined to comment on the reported closings, referring questions to company headquarters in Bridgeport.Peoples reported a profit of $151 million in 2007, up nearly 23 percent over 2006.
The Associated Press contributed to this report.
Walt Gogolya can be reached by e-mail at winsted@registercitizen.com.