Presentation materials and a link to the live webcast will be available on People's United Financial's web site at www.peoples.com - Investor Relations - News & Events - Financial Services Conference. The webcast will be archived and available for replay.

People's United Financial, Inc., a diversified financial services company with $21 billion in assets, provides consumer and commercial banking services through its subsidiary, People's United Bank, with approximately 300 branches in Connecticut, Vermont, New Hampshire, Massachusetts, Maine and New York. Through additional subsidiaries, People's United Financial provides equipment financing, asset management, brokerage and financial advisory services, and insurance services.

Access Information About People's United Financial on the World Wide Web at www.peoples.com.

SOURCE People's United Financial, Inc.

http://www.peoples.com

Both managers will talk about their current economic outlook and discuss the strategic and tactical steps that their investment teams are taking to manage United Financial's client portfolios. Mr. Bubis also will give his insight on Canadian investment opportunities, while Mr. Sterling will provide a global perspective.

United Financial is committed to providing advisors and clients with timely investment information on an ongoing basis. Through United Financial's relationships with some of the most seasoned and respected portfolio managers in Canada and around the world, "The Game Plan" webcasts give participants regular access to valuable insights and expertise directly from the teams managing United Financial's portfolio solutions.

The webcast is accessible by visiting www.unitedfinancial.ca or www.assante.com and clicking on The Game Plan. Investors may submit questions by e-mail during the webcast.

About United Financial Corporation

United Financial Corporation is a Canadian investment management and wealth planning firm. It provides customized managed portfolio solutions for individuals, families and businesses through the Private Client Managed Portfolios, Evolution Private Managed Accounts, Optima Strategy, Institutional Managed Portfolios and Artisan Portfolios programs distributed through advisors with Assante Wealth Management. United Financial is on the Web at www.unitedfinancial.ca.

United Financial is a subsidiary of CI Financial Corp. (TSX: CIX), an independent, Canadian-owned wealth management firm with approximately $93.8 billion in fee-earning assets as of September 30, 2009. CI is on the Web at www.ci.com/cix.

SOURCE: United Financial Corporation

Murray Oxby, Director, Communications, (416) 681-3254

The Board of Directors of People's United Financial declared a $0.1525 per share quarterly dividend, payable November 15, 2009 to shareholders of record on November 1, 2009. Based on the closing stock price on October 14, 2009, the dividend yield on People's United Financial common stock is 3.9 percent.

"Our third quarter performance reflects continued growth in our core loan portfolios and deposits in spite of a clearly very challenging economic environment," stated Philip R. Sherringham, President and Chief Executive Officer. Year-over-year core commercial and home equity lending portfolios increased eight percent and deposits grew six percent. "In addition, the pillars of our financial position -- strong asset quality and prudent management of our excess capital -- have served us well in these challenging times and continue to differentiate us from most in the banking sector."

Sherringham added, "We believe our asset quality has held up remarkably well on both a relative and absolute basis through the recent recessionary cycle and most of the bad news is substantially behind us. While we are well-positioned to benefit from future increases in interest rates given our asset-sensitivity, the current rate environment continues to pressure our net interest margin. Our strategic focus remains on expansion through opportunistic acquisitions even as we continue to pursue organic growth throughout our franchise. The strength of our capital and liquidity, asset quality and earnings, as well as the fact that our balance sheet remains funded almost entirely by deposits and stockholders' equity, continue to set us apart from most in the industry."

"Significant drivers of the company's performance this quarter were our first increase in the net interest margin since last year's third quarter, continued loan growth across our strategic lending businesses, improvements in fee income and expense control, partially offset by higher net loan charge-offs and our decision to increase the allowance for loan losses," said Paul D. Burner, Senior Executive Vice President and Chief Financial Officer. "The 7 basis point increase in the net interest margin was primarily attributable to a reduction in our cost of deposits. In addition, during the third quarter, mortgage-backed securities with a book value of $308 million were sold, and the proceeds have been reinvested in mortgage-backed securities with substantially-equivalent maturities and yields. This investment portfolio repositioning, which was undertaken to mitigate prepayment risk, generated security gains totaling $4.8 million."

Commenting on asset quality, Burner stated, "A single shared national credit accounted for $6.1 million, or 38 percent, of this quarter's net loan charge-offs. Non-performing loans increased $7.7 million, or 5 percent, this quarter, signaling what we believe to be stabilization across the loan portfolio. Notwithstanding the slight increase in non-performing assets, our continued modest level of net loan charge-offs in this current economic environment remains a testament to our disciplined underwriting standards."

Third quarter net loan charge-offs totaled $16.0 million compared to $6.0 million in the second quarter of 2009. Net loan charge-offs as a percent of average loans on an annualized basis were 0.44 percent in the third quarter of 2009 compared to 0.16 percent in this year's second quarter and were 0.26 percent for the nine months ended September 30, 2009. The provision for loan losses in the third quarter of 2009 reflects a $5.5 million increase in the allowance for loan losses to $172.5 million at September 30, 2009.

At September 30, 2009, non-performing loans totaled $175.7 million and the ratio of non-performing loans to total loans was 1.23 percent, compared to $168.0 million and 1.15 percent, respectively, at June 30, 2009. Non-performing assets totaled $192.7 million at September 30, 2009, a $10.7 million increase from June 30, 2009. Non-performing assets equaled 1.35 percent of total loans, REO and repossessed assets at September 30, 2009 compared to 1.25 percent at June 30, 2009. At September 30, 2009, the allowance for loan losses as a percentage of total loans was 1.21 percent and as a percentage of non-performing loans was 98 percent, compared to 1.15 percent and 99 percent, respectively, at June 30, 2009.

Results for the first two quarters of 2009 and the fourth quarter of 2008 have been revised to reflect the recognition of additional non-interest expense relating to an unintentional under accrual of certain operating expenses. The effect of these revisions was immaterial to each period (no change in diluted earnings per share for the second quarter of 2009 and a one cent reduction in diluted earnings per share for both the first quarter of 2009 and the fourth quarter of 2008). Net income for the three months ended June 30, 2009, March 31, 2009 and December 31, 2008 was reduced by $2.1 million, $2.5 million and $1.7 million, respectively.

Conference Call

On October 16, 2009, at 11 a.m., Eastern Time, People's United Financial will host a conference call to discuss this earnings announcement. The call may be heard through www.peoples.com by selecting "Investor Relations" in the "About People's" section on the home page, and then selecting "Conference Calls" in the "News and Events" section. Additional materials relating to the call may also be accessed at People's United Bank's web site. The call will be archived on the web site and available for approximately 90 days.

Selected Financial Terms

In addition to evaluating People's United Financial's results of operations in accordance with generally accepted accounting principles ("GAAP"), management routinely supplements this evaluation with an analysis of certain non-GAAP financial measures, such as the tangible equity and efficiency ratios, and tangible book value per share. Management believes these non-GAAP financial measures provide information useful to investors in understanding People's United Financial's underlying operating performance and trends, and facilitates comparisons with the performance of other banks and thrifts. Further, the efficiency ratio is used by management in its assessment of financial performance specifically as it relates to non-interest expense control, while the tangible equity ratio and tangible book value per share are used to analyze the relative strength of People's United Financial's capital position.

The efficiency ratio, which represents an approximate measure of the cost required by People's United Financial to generate a dollar of revenue, is the ratio of (i) total non-interest expense (excluding goodwill impairment charges, amortization of acquisition-related intangibles and fair value adjustments, losses on real estate assets and nonrecurring expenses) (the numerator) to (ii) net interest income on a fully taxable equivalent basis (excluding fair value adjustments) plus total non-interest income (including the fully taxable equivalent adjustment on bank-owned life insurance income, and excluding gains and losses on sales of assets, other than residential mortgage loans, and nonrecurring income) (the denominator). People's United Financial generally considers an item of income or expense to be nonrecurring if it is not similar to an item of income or expense of a type incurred within the last two years and is not similar to an item of income or expense of a type reasonably expected to be incurred within the following two years.

The tangible equity ratio is the ratio of (i) tangible stockholders' equity (total stockholders' equity less goodwill and other acquisition-related intangibles) (the numerator) to (ii) tangible assets (total assets less goodwill and other acquisition-related intangibles) (the denominator). Tangible book value per share is calculated by dividing tangible stockholders' equity by common shares outstanding.

3Q 2009 Financial Highlights

Summary

    --  Net income totaled $26.8 million, or $0.08 per share.
    --  Net interest income on a fully taxable equivalent basis totaled $146.1
        million.
        --  Net interest margin increased 7 basis points from 2Q09 to 3.19%.
        --  Average short-term investments totaled $3.1 billion, or 17% of
            average earning assets, and yielded 0.22% in 3Q09.
        --  Average deposits increased $151 million, or 4% annualized, from
            2Q09.
    --  Provision for loan losses totaled $21.5 million.
        --  Net loan charge-offs totaled $16.0 million in 3Q09 (including $6.1
            million related to one shared national credit) compared to $6.0
            million in 2Q09.
        --  The allowance for loan losses was increased by $5.5 million in 3Q09
            from 2Q09 levels.
    --  Non-interest income, excluding net security gains, totaled $75.5 million
        in 3Q09 compared to $73.0 million in 2Q09.
        --  Gains on sales of residential mortgage loans increased $1.4 million
            from 2Q09.
        --  Net security gains totaled $4.7 million in 3Q09 and $12.0 million in
            2Q09.
    --  Non-interest expense, excluding an FDIC special assessment charge in
        2Q09, totaled $165.1 million in 3Q09 compared to $167.8 million in 2Q09.
        --  FDIC special assessment charge in 2Q09 totaled $8.4 million.

    --  Effective income tax rate was 31.2% in 3Q09.

Commercial Banking

    --  Average commercial banking loans, excluding shared national credits,
        increased $79 million, or 4% annualized, from 2Q09 to $8.7 billion.
    --  Shared national credits totaled $614.2 million at September 30, 2009, a
        $24.7 million decrease from June 30, 2009.
    --  Non-performing commercial banking assets totaled $131.3 million at
        September 30, 2009, an $8.8 million increase from June 30, 2009.

        --  Includes $26.4 million attributable to two non-performing shared
            national credits.

    --  The ratio of non-performing commercial banking loans to total commercial
        banking loans was 1.28% at September 30, 2009 compared to 1.21% at June
        30, 2009.
    --  Net loan charge-offs totaled $11.2 million, or 0.48% annualized, of
        average commercial banking loans in 3Q09, compared to $3.3 million, or
        0.15% annualized, in 2Q09.

        --  Excluding the shared national credit partial charge-off, net loan
            charge-offs totaled $5.1 million, or 0.22% annualized in 3Q09.

Retail & Small Business Banking

    --  Average residential mortgage loans totaled $2.8 billion, a $180 million
        decrease from 2Q09, reflecting People's United Financial's strategy to
        sell essentially all newly-originated loans.
        --  Net loan charge-offs totaled $2.6 million, or 0.37% annualized, of
            average residential mortgage loans.
        --  The ratio of non-performing residential mortgage loans to total
            residential mortgage loans was 1.88% at September 30, 2009 compared
            to 1.74% at June 30, 2009.
    --  Average home equity loans totaled $2.0 billion, unchanged from 2Q09.
        --  Net loan charge-offs totaled $0.8 million, or 0.16% annualized, of
            average home equity loans.
    --  Average indirect auto loans totaled $0.2 billion, unchanged from 2Q09.

        --  Net loan charge-offs totaled $0.9 million, or 1.54% annualized, of
            average indirect auto loans.

Wealth Management

    --  Wealth Management income increased $0.5 million from 2Q09.
        --  Insurance revenue increased $1.1 million, reflecting the seasonal
            nature of insurance renewals.

    --  Assets under custody, management and safekeeping, which are not reported
        as assets of People's United Financial, totaled $12.3 billion at
        September 30, 2009 compared to $12.5 billion at June 30, 2009.

People's United Financial, a diversified financial services company with $21 billion in assets, provides commercial banking, retail and small business banking, and wealth management services through a network of nearly 300 branches in Connecticut, Vermont, New Hampshire, Maine, Massachusetts and New York. Through its subsidiaries, People's United Financial provides equipment financing, asset management, brokerage and financial advisory services, and insurance services.

Certain statements contained in this release are forward-looking in nature. These include all statements about People's United Financial's plans, objectives, expectations and other statements that are not historical facts, and usually use words such as "expect," "anticipate," "believe" and similar expressions. Such statements represent management's current beliefs, based upon information available at the time the statements are made, with regard to the matters addressed. All forward-looking statements are subject to risks and uncertainties that could cause People's United Financial's actual results or financial condition to differ materially from those expressed in or implied by such statements. Factors of particular importance to People's United Financial include, but are not limited to: (1) changes in general, national or regional economic conditions; (2) changes in interest rates; (3) changes in loan default and charge-off rates; (4) changes in deposit levels; (5) changes in levels of income and expense in non-interest income and expense related activities; (6) residential mortgage and secondary market activity; (7) changes in accounting and regulatory guidance applicable to banks; (8) price levels and conditions in the public securities markets generally; (9) competition and its effect on pricing, spending, third-party relationships and revenues; and (10) the successful completion of the integration of Chittenden Corporation. People's United Financial does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Access Information About People's United Financial on the World Wide Web at www.peoples.com.

    People's United Financial, Inc.
    FINANCIAL HIGHLIGHTS

                                         Three Months Ended
                          Sept. 30,  June 30,  March 31,  Dec. 31,  Sept. 30,
    (dollars in millions,   2009     2009 (1)  2009 (1)   2008 (1)     2008
     except per share data)

    Operating Data:
      Net interest income   $145.3    $141.2    $142.8     $153.3    $159.8
      Provision for loan
       losses                21.5      14.0       7.9         8.7       6.8
      Non-interest
       income (2)            80.2      85.0      72.2        73.7      74.2
      Non-interest
       expense (3)          165.1     176.2     171.1       168.2     158.7
      Income before income
       tax expense           38.9      36.0      36.0        50.1      68.5
      Net income             26.8      25.3      24.2        33.7      46.0

    Selected Statistical
     Data:
      Net interest
       margin (4)            3.19%     3.12%     3.25%       3.55%     3.71%
      Return on average
       assets (4)            0.51      0.49      0.48        0.67      0.92
      Return on average
       tangible assets (4)   0.55      0.53      0.52        0.73      0.99
      Return on average
       stockholders'
       equity (4)             2.1       2.0       1.9         2.6       3.5
      Return on average
       tangible
       stockholders'
       equity (4)             3.0       2.8       2.7         3.6       5.0
      Efficiency ratio       71.1      73.7      75.1        70.2      64.9

    Per Common Share Data:
      Diluted earnings
       per share            $0.08     $0.08     $0.07       $0.10      $0.14
      Dividends paid per
       share                 0.15      0.15      0.15        0.15       0.15
      Dividend payout
       ratio                191.3%    202.0%    207.3%      149.1%     108.7%
      Book value (end of
       period)             $15.24    $15.29    $15.38      $15.44     $15.65
      Tangible book value
       (end of period)      10.71     10.75     10.81       10.86      11.06
      Stock price:
        High                17.41     18.54     18.18       20.15      21.76
        Low                 14.84     14.72     15.61       14.75      13.92
        Close (end of
         period)            15.56     15.07     17.97       17.83      19.25
      Average diluted
       common shares
       outstanding (in
       millions)           333.38    332.97    332.78      332.33     331.32

    (1)  Previously reported amounts for the three months ended June 30,
         2009, March 31, 2009 and December 31, 2008 have been revised to
         reflect the recognition of additional non-interest expense, which,
         after taxes, reduced net income by $2.1 million, $2.5 million and
         $1.7 million, respectively. Diluted earnings per share were reduced
         by $0.01 in both the three months ended March 31, 2009 and December
         31, 2008 (no impact on the three months ended June 30, 2009). Certain
         statistical data and other per common share data have been revised as
         necessary.
    (2)  Includes net security gains of $4.7 million, $12.0 million and $5.4
         million for the three months ended September 30, 2009, June 30, 2009
         and March 31, 2009, respectively.
    (3)  Includes an FDIC special assessment charge of $8.4 million for the
         three months ended June 30, 2009.
    (4)  Annualized.



    People's United Financial, Inc.
    FINANCIAL HIGHLIGHTS - Continued

                                                        Nine Months Ended
                                                      Sept. 30,   Sept. 30,
    (dollars in millions, except per share data)       2009 (1)       2008

    Operating Data:
      Net interest income                                $429.3     $483.1
      Provision for loan losses                            43.4       17.5
      Non-interest income (2)                             237.4      229.9
      Non-interest expense (3)                            512.4      540.8
      Income before income tax expense                    110.9      154.7
      Net income                                           76.3      104.1

    Selected Statistical Data:
      Net interest margin (4)                              3.18%      3.65%
      Return on average assets (4)                         0.49       0.68
      Return on average tangible assets (4)                0.53       0.73
      Return on average stockholders' equity (4)            2.0        2.7
      Return on average tangible stockholders' equity (4)   2.8        3.8
      Efficiency ratio                                     73.3       65.4

    Per Common Share Data:
      Diluted earnings per share                          $0.23      $0.32
      Dividends paid per share                             0.45       0.43
      Dividend payout ratio                               199.9%     138.6%
      Book value (end of period)                         $15.24     $15.65
      Tangible book value (end of period)                 10.71      11.06
      Stock price:
        High                                              18.54      21.76
        Low                                               14.72      13.92
        Close (end of period)                             15.56      19.25
      Average diluted common shares outstanding (in
       millions)                                         333.03     330.22

    (1)  See Financial Highlights footnote (1).
    (2)  Includes net security gains of $22.1 million and $8.1 million for
         the nine months ended September 30, 2009 and 2008, respectively.
    (3)  Includes an FDIC special assessment charge of $8.4 million for the
         nine months ended September 30, 2009, and merger-related expenses
         of $36.5 million and other one-time charges of $14.8 million for
         the nine months ended September 30, 2008.
    (4)  Annualized.



    People's United Financial, Inc.
    FINANCIAL HIGHLIGHTS - Continued

                                     As of and for the Three Months Ended
                             Sept. 30, June 30, March 31, Dec. 31, Sept. 30,
    (dollars in millions)        2009     2009      2009     2008      2008

    Financial Condition Data:
      General:
        Total assets          $20,810  $20,812   $20,681  $20,168   $20,042
        Loans                  14,302   14,553    14,648   14,566    14,331
        Short-term
         investments (1)        3,077    3,073     2,756    1,139     2,534
        Securities                550      491       806    1,902       428
        Allowance for loan
         losses                   173      167       159      158       155
        Goodwill and other
         acquisition-
         related
         intangibles            1,520    1,525     1,531    1,536     1,537
        Deposits               15,050   15,023    14,846   14,269    14,152
        Borrowings                154      160       185      188       152
        Subordinated notes        182      181       181      181       180
        Stockholders' equity    5,115    5,130     5,156    5,174     5,239
        Non-performing assets     193      182       142       94        91
        Net loan charge-offs     16.0      6.0       6.4      5.7       4.0

      Average Balances:
        Loans                 $14,454  $14,595   $14,603  $14,371   $14,310
        Short-term
         investments (1)        3,105    2,816     1,824    1,610     2,325
        Securities                782      799     1,275    1,393       715
        Total earning assets   18,341   18,210    17,702   17,374    17,350
        Total assets           20,870   20,759    20,258   20,057    20,057
        Deposits               15,037   14,886    14,346   14,117    14,193
        Total funding
         liabilities           15,365   15,237    14,721   14,479    14,520
        Stockholders' equity    5,135    5,162     5,164    5,230     5,204

      Ratios:
        Net loan charge-offs
         to average loans
          (annualized)           0.44%    0.16%     0.18%    0.16%     0.11%
        Non-performing
         assets to total loans,
          REO and repossessed
           assets                1.35     1.25      0.97     0.64      0.64
        Allowance for loan
         losses to non-
         performing loans        98.2     99.4     126.1    186.8     181.6
        Allowance for loan
         losses to total loans   1.21     1.15      1.09     1.08      1.08
        Average stockholders'
         equity to average
         total assets            24.6     24.9      25.5     26.1      25.9
        Stockholders' equity to
         total assets            24.6     24.7      24.9     25.7      26.1
        Tangible stockholders'
         equity to tangible
         assets                  18.6     18.7      18.9     19.5      20.0
        Total risk-
         based capital (2)       14.0     13.7      13.5     13.4      16.2

    (1)  Includes securities purchased under agreements to resell.
    (2)  Total risk-based capital ratios are for People's United Bank and, as
         such, do not reflect the additional capital residing at People's
         United Financial, Inc. People's United Bank's September 30, 2009
         total risk-based capital ratio is preliminary.



    People's United Financial, Inc.
    CONSOLIDATED STATEMENTS OF CONDITION

                                         Sept. 30,   June 30,  Sept. 30,
    (in millions)                            2009       2009       2008

    Assets
    Cash and due from banks                $410.9     $343.0     $437.5
    Short-term investments                1,933.0    2,672.8    2,533.5
        Total cash and cash equivalents   2,343.9    3,015.8    2,971.0
    Securities:
      Trading account securities,
       at fair value                         10.3       12.2       33.3
      Securities available for sale,
       at fair value                        453.4      446.8      362.4
      Securities held to maturity,
       at amortized cost                     55.3        0.8        1.4
      Federal Home Loan Bank stock, at cost  31.1       31.1       31.1
        Total securities                    550.1      490.9      428.2
    Securities purchased under
     agreements to resell                 1,144.0      400.0          -
    Loans:
      Commercial real estate              5,365.8    5,234.2    4,871.9
      Commercial                          4,011.4    4,094.6    4,074.3
      Residential mortgage                2,654.0    2,950.1    3,262.3
      Consumer                            2,270.4    2,273.7    2,122.1
        Total loans                      14,301.6   14,552.6   14,330.6
      Less allowance for loan losses       (172.5)    (167.0)    (154.5)
        Total loans, net                 14,129.1   14,385.6   14,176.1
    Goodwill and other
     acquisition-related intangibles      1,520.2    1,525.3    1,536.9
    Premises and equipment                  261.7      258.2      265.6
    Bank-owned life insurance               235.2      233.0      227.1
    Other assets                            625.9      502.7      437.1
        Total assets                    $20,810.1  $20,811.5  $20,042.0

    Liabilities
    Deposits:
      Non-interest-bearing               $3,192.8   $3,310.4   $3,176.1
      Savings, interest-bearing
       checking and money market          6,926.0    6,609.7    6,115.3
      Time                                4,931.6    5,102.9    4,860.4
        Total deposits                   15,050.4   15,023.0   14,151.8
    Borrowings:
      Repurchase agreements                 139.0      145.5      117.6
      Federal Home Loan Bank advances        15.0       14.6       15.3
      Other                                     -          -       19.0
        Total borrowings                    154.0      160.1      151.9
    Subordinated notes                      181.5      181.2      180.2
    Other liabilities                       309.0      316.9      319.5
        Total liabilities                15,694.9   15,681.2   14,803.4

    Stockholders' Equity
    Common stock ($0.01 par value;
     1.95 billion shares authorized;
     348.4 million shares,
     348.3 million shares and
     347.8 million shares issued)             3.5        3.5        3.5
    Additional paid-in capital            4,506.3    4,500.6    4,475.6
    Retained earnings                       943.4      968.4    1,037.6
    Treasury stock, at cost
     (3.3 million shares, 3.3 million
     shares and 3.2 million shares)         (59.6)     (60.1)     (58.0)
    Accumulated other comprehensive loss    (81.4)     (83.3)     (15.9)
    Unallocated common stock of
     Employee Stock Ownership Plan         (197.0)    (198.8)    (204.2)
        Total stockholders' equity        5,115.2    5,130.3    5,238.6
        Total liabilities and
         stockholders' equity           $20,810.1  $20,811.5  $20,042.0



    People's United Financial, Inc.
    CONSOLIDATED STATEMENTS OF INCOME

                                              Three Months Ended
                              Sept. 30, June 30, March 31, Dec. 31,  Sept. 30,
    (in millions, except          2009  2009 (1) 2009 (1)  2008 (1)     2008
     per share data)

    Interest and dividend income:
      Commercial real estate     $73.9    $70.8    $69.0     $73.9     $75.4
      Commercial                  49.6     50.6     50.6      54.9      56.6
      Residential mortgage        35.1     37.8     40.7      43.2      45.4
      Consumer                    24.0     24.0     23.9      25.8      27.2
        Total interest on loans  182.6    183.2    184.2     197.8     204.6
      Securities                   7.5      7.2      9.3       8.5       4.8
      Short-term investments       1.4      1.6      1.7       6.1      12.5
      Securities purchased under
       agreements to resell        0.4      0.2        -         -       0.5
        Total interest and
         dividend income         191.9    192.2    195.2     212.4     222.4
    Interest expense:
      Deposits                    42.5     46.8     48.2      54.6      58.0
      Borrowings                   0.3      0.4      0.4       0.7       0.8
      Subordinated notes           3.8      3.8      3.8       3.8       3.8
        Total interest expense    46.6     51.0     52.4      59.1      62.6
        Net interest income      145.3    141.2    142.8     153.3     159.8
    Provision for loan losses     21.5     14.0      7.9       8.7       6.8
        Net interest income
         after provision for
          loan losses            123.8    127.2    134.9     144.6     153.0
    Non-interest income:
      Investment management fees   8.4      8.6      7.5       9.6       8.9
      Insurance revenue            7.9      6.8      8.3       7.3       8.8
      Brokerage commissions        2.8      3.2      3.3       3.2       4.1
        Total wealth
         management income        19.1     18.6     19.1      20.1      21.8
      Bank service charges        33.3     32.9     30.4      31.5      33.1
      Merchant services income     6.7      6.1      5.8       6.6       7.5
      Bank-owned life insurance    2.2      2.7      1.6       1.5       2.1
      Net security gains (losses)  4.7     12.0      5.4       0.2      (0.2)
      Net gains on sales of
       residential mortgage loans  5.2      3.8      1.9       0.8       1.5
      Other non-interest income    9.0      8.9      8.0      13.0       8.4
        Total non-interest income 80.2     85.0     72.2      73.7      74.2
    Non-interest expense:
      Compensation and benefits   86.0     86.6     88.7      83.2      85.6
      Occupancy and equipment     27.5     26.3     28.0      26.5      26.1
      Professional and
       outside service fees       11.6     11.7     10.7      12.8      11.9
      Amortization of other
       acquisition-related
        intangibles                5.1      5.3      5.2       5.5       5.3
      Merchant services expense    5.7      5.2      4.9       5.6       6.8
      Other non-interest expense  29.2     41.1     33.6      34.6      23.0
        Total non-interest
         expense                 165.1    176.2    171.1     168.2     158.7
        Income before
         income tax expense       38.9     36.0     36.0      50.1      68.5
    Income tax expense            12.1     10.7     11.8      16.4      22.5
        Net income               $26.8    $25.3    $24.2     $33.7     $46.0

    Diluted earnings per
     common share                $0.08    $0.08    $0.07     $0.10     $0.14

    (1)  See Financial Highlights footnote (1).



    People's United Financial, Inc.
    CONSOLIDATED STATEMENTS OF INCOME

                                             Nine Months Ended
                                            Sept. 30, Sept. 30,
    (in millions, except per share data)    2009 (1)      2008

    Interest and dividend income:
      Commercial real estate                   $213.7    $228.2
      Commercial                                150.8     174.2
      Residential mortgage                      113.6     146.7
      Consumer                                   71.9      85.1
        Total interest on loans                 550.0     634.2
      Securities                                 24.0      22.3
      Short-term investments                      4.7      40.8
      Securities purchased under agreements
       to resell                                  0.6       7.5
        Total interest and dividend income      579.3     704.8
    Interest expense:
      Deposits                                  137.5     207.5
      Borrowings                                  1.1       2.8
      Subordinated notes                         11.4      11.4
        Total interest expense                  150.0     221.7
        Net interest income                     429.3     483.1
    Provision for loan losses                    43.4      17.5
        Net interest income after
         provision for loan losses              385.9     465.6
    Non-interest income:
      Investment management fees                 24.5      27.2
      Insurance revenue                          23.0      26.0
      Brokerage commissions                       9.3      12.8
        Total wealth management                  56.8      66.0
      Bank service charges                       96.6      96.2
      Merchant services income                   18.6      21.0
      Bank-owned life insurance                   6.5       6.8
      Net security gains                         22.1       8.1
      Net gains on sales of
       residential mortgage loans                10.9       5.7
      Other non-interest income                  25.9      26.1
        Total non-interest income               237.4     229.9
    Non-interest expense:
      Compensation and benefits                 261.3     261.4
      Occupancy and equipment                    81.8      83.8
      Professional and outside service fees      34.0      35.2
      Amortization of other
       acquisition-related intangibles           15.6      15.8
      Merchant services expense                  15.8      18.2
      Merger-related expenses                       -      36.5
      Other non-interest expense                103.9      89.9
        Total non-interest expense              512.4     540.8
        Income before income tax expense        110.9     154.7
    Income tax expense                           34.6      50.6
        Net income                               76.3     104.1

    Diluted earnings per common share           $0.23     $0.32

    (1) See Financial Highlights footnote (1).



    People's United Financial, Inc.
    AVERAGE BALANCE SHEET, INTEREST AND YIELD/RATE ANALYSIS (1)

                               September 30, 2009         June 30, 2009
    Three months ended     Average           Yield/  Average           Yield/
    (dollars in millions)  Balance  Interest  Rate   Balance  Interest  Rate
    Assets:
    Short-term
     investments          $2,344.7     $1.4   0.23%  $2,543.9     $1.6   0.26%
    Securities purchased
     under agreements to
      resell                 760.0      0.4   0.19      272.5      0.2   0.23
    Securities (2)           782.5      7.5   3.84      798.6      7.2   3.60
    Loans:
      Commercial
       real estate         5,302.3     73.9   5.58    5,154.4     70.8   5.49
      Commercial           4,072.8     50.4   4.94    4,175.7     51.5   4.94
      Residential mortgage 2,808.9     35.1   5.00    2,988.8     37.8   5.05
      Consumer             2,269.9     24.0   4.24    2,275.9     24.0   4.22
        Total loans       14,453.9    183.4   5.08   14,594.8    184.1   5.04
        Total earning
         assets           18,341.1   $192.7   4.20%  18,209.8   $193.1   4.24%
    Other assets           2,529.0                    2,549.5
        Total assets     $20,870.1                  $20,759.3

    Liabilities and
     stockholders' equity:
    Deposits:
      Non-interest-
       bearing            $3,222.4       $-      -%  $3,192.0       $-      -%
      Savings,
       interest-bearing
       checking and money
         market            6,798.0     11.6   0.68    6,600.5     12.1   0.74
      Time                 5,016.4     30.9   2.47    5,093.5     34.7   2.72
        Total deposits    15,036.8     42.5   1.13   14,886.0     46.8   1.26
    Borrowings:
      Repurchase
       agreements            132.1      0.1   0.47      155.8      0.2   0.43
      Federal Home Loan Bank
       advances               14.6      0.2   5.30       14.6      0.2   5.30
      Other                      -        -      -          -        -      -
        Total borrowings     146.7      0.3   0.95      170.4      0.4   0.84
    Subordinated notes       181.3      3.8   8.34      181.0      3.8   8.36
        Total funding
         liabilities      15,364.8    $46.6   1.21%  15,237.4    $51.0   1.34%
    Other liabilities        370.8                      359.8
        Total liabilities 15,735.6                   15,597.2
    Stockholders' equity   5,134.5                    5,162.1
        Total liabilities
         and stockholders'
         equity          $20,870.1                  $20,759.3


    Net interest
     income/spread (3)               $146.1   2.99%             $142.1   2.90%

    Net interest margin                       3.19%                      3.12%

    (1)  Average yields earned and rates paid are annualized.
    (2)  Average balances and yields for securities available for sale are
         based on amortized cost.
    (3)  The FTE adjustment was $0.8 million, $0.9 million and $1.0 million
         for the three months ended September 30, 2009, June 30, 2009
         and September 30, 2008, respectively.



    People's United Financial, Inc.
    AVERAGE BALANCE SHEET, INTEREST AND YIELD/RATE ANALYSIS (1)

                                          September 30, 2008
    Three months ended                 Average            Yield/
    (dollars in millions)              Balance  Interest   Rate

    Assets:
    Short-term investments             $2,235.3    $12.5     2.24%
    Securities purchased under
      agreements to resell                 89.6      0.5     2.05
    Securities (2)                        714.9      4.8     2.72
    Loans:
      Commercial real estate            4,837.1     75.4     6.23
      Commercial                        4,035.3     57.6     5.71
      Residential mortgage              3,360.5     45.4     5.40
      Consumer                          2,076.9     27.2     5.25
        Total loans                    14,309.8    205.6     5.75
        Total earning assets           17,349.6   $223.4     5.15%
    Other assets                        2,707.4
        Total assets                  $20,057.0

    Liabilities and stockholders'
     equity:
    Deposits:
      Non-interest-bearing             $3,137.6       $-        -%
      Savings, interest-
       bearing checking
        and money market                6,170.7     18.2     1.18
      Time                              4,884.6     39.8     3.26
        Total deposits                 14,192.9     58.0     1.63
    Borrowings:
      Repurchase agreements               113.5      0.4     1.65
      Federal Home Loan
       Bank advances                       15.3      0.2     5.31
      Other                                18.0      0.2     3.79
        Total borrowings                  146.8      0.8     2.29
    Subordinated notes                    180.0      3.8     8.41
        Total funding liabilities      14,519.7    $62.6     1.73%
    Other liabilities                     333.1
        Total liabilities              14,852.8
    Stockholders' equity                5,204.2
        Total liabilities and
         stockholders' equity         $20,057.0


    Net interest income/spread (3)                $160.8     3.42%

    Net interest margin                                      3.71%

    (1)  Average yields earned and rates paid are annualized.
    (2)  Average balances and yields for securities available for sale are
         based on amortized cost.
    (3)  The FTE adjustment was $0.8 million, $0.9 million and $1.0 million
         for the three months ended September 30, 2009, June 30, 2009
         and September 30, 2008, respectively.



    People's United Financial, Inc.
    AVERAGE BALANCE SHEET, INTEREST AND YIELD/RATE ANALYSIS (1)

                              September 30, 2009         September 30, 2008
    Nine months ended      Average           Yield/  Average            Yield/
    (dollars in millions)  Balance  Interest  Rate  Balance  Interest    Rate

    Assets:
    Short-term
    investments           $2,239.6     $4.7   0.28%  $2,059.8    $40.8   2.64%
    Securities purchased
     under agreements
     to resell               347.0      0.6   0.20      414.3      7.5   2.43
    Securities (2)           950.1     24.0   3.38      880.1     22.3   3.39
    Loans:
      Commercial real
       estate              5,160.1    213.7   5.52    4,795.2    228.2   6.34
      Commercial           4,152.4    153.4   4.92    3,979.3    177.1   5.93
      Residential mortgage 2,971.3    113.6   5.10    3,630.7    146.7   5.39
      Consumer             2,266.2     71.9   4.23    2,018.4     85.1   5.62
        Total
         loans            14,550.0    552.6   5.06   14,423.6    637.1   5.89
        Total earning
         assets           18,086.7   $581.9   4.29%  17,777.8   $707.7   5.31%
    Other assets           2,544.6                    2,701.4
        Total assets     $20,631.3                  $20,479.2

    Liabilities and
     stockholders'
     equity:
    Deposits:
      Non-interest-
       bearing            $3,173.9       $-      -%  $3,151.9       $-      -%
      Savings,
       interest-bearing
       checking and
       money market        6,564.1     36.3   0.74    6,224.1     61.9   1.33
      Time                 5,020.8    101.2   2.69    5,208.3    145.6   3.73
        Total deposits    14,758.8    137.5   1.24   14,584.3    207.5   1.90
    Borrowings:
      Repurchase
       agreements            152.9      0.5   0.45      113.5      1.7   2.00
      Federal Home
       Loan Bank
       advances               14.7      0.6   5.29       16.6      0.6   5.11
      Other                    2.8        -   1.96       20.3      0.5   3.03
        Total borrowings     170.4      1.1   0.89      150.4      2.8   2.48
    Subordinated notes       181.0     11.4   8.36      181.8     11.4   8.32
        Total
         funding
         liabilities      15,110.2   $150.0   1.32%  14,916.5   $221.7   1.98%
    Other liabilities        367.8                      355.9
        Total liabilities 15,478.0                   15,272.4
    Stockholders' equity   5,153.3                    5,206.8
        Total liabilities
         and stockholders'
          equity         $20,631.3                  $20,479.2


    Net interest
     income/spread (3)               $431.9   2.97%             $486.0   3.33%

    Net interest margin                       3.18%                      3.65%

    (1)  Average yields earned and rates paid are annualized.
    (2)  Average balances and yields for securities available for sale are
         based on amortized cost.
    (3)  The FTE adjustment was $2.6 million and $2.9 million for the nine
         months ended September 30, 2009 and 2008, respectively.



    People's United Financial, Inc.
    NON-PERFORMING ASSETS

                              Sept. 30, June 30, March 31, Dec. 31, Sept. 30,
    (dollars in millions)         2009     2009      2009     2008      2008

    Non-accrual loans:
      Commercial real estate     $80.2    $75.0     $53.8    $29.8     $29.9
      Residential mortgage        49.8     51.4      42.3     24.2      21.1
      Commercial                  21.0     21.3      16.3     21.1      23.9
      PCLC                        18.6     16.5       9.0      5.8       6.9
      Consumer                     6.1      3.8       4.6      3.3       3.2
      Indirect auto                  -        -       0.1      0.1       0.1
        Total non-accrual
         loans (1)               175.7    168.0     126.1     84.3      85.1
    Real estate owned ("REO")
     and repossessed assets, net  17.0     14.0      15.9      9.4       6.3
        Total non-performing
         assets                 $192.7   $182.0    $142.0    $93.7      $91.4

    Non-performing loans as
     a percentage of total loans  1.23%    1.15%     0.86%    0.58%      0.59%
    Non-performing assets as
     a percentage of:
     Total loans, REO and
      repossessed assets          1.35     1.25      0.97     0.64       0.64
     Tangible stockholders'
      equity and allowance
       for loan losses            5.11     4.82      3.75     2.47       2.37

    (1) Reported net of government guarantees totaling $7.2 million at
        September 30, 2009, $7.1 million at June 30, 2009, $7.2 million at
        March 31, 2009, $6.5 million at December 31, 2008 and $6.4 million at
        September 30, 2008.



    PROVISION AND ALLOWANCE FOR LOAN LOSSES

                                            Three Months Ended
                              Sept. 30, June 30, March 31, Dec. 31, Sept. 30,
    (dollars in millions)         2009     2009      2009     2008      2008

    Balance at beginning
     of period                  $167.0   $159.0    $157.5   $154.5    $151.7
    Charge-offs                  (17.2)    (6.9)     (6.9)    (6.9)     (5.0)
    Recoveries                     1.2      0.9       0.5      1.2       1.0
        Net loan charge-offs     (16.0)    (6.0)     (6.4)    (5.7)     (4.0)
    Provision for loan losses     21.5     14.0       7.9      8.7       6.8
    Balance at end of period    $172.5   $167.0    $159.0   $157.5    $154.5

    Allowance for loan losses
     as a percentage of:
     Total loans                   1.21%    1.15%     1.09%    1.08%     1.08%
     Non-performing loans         98.2     99.4     126.1    186.8     181.6



    NET LOAN CHARGE-OFFS

                                             Three Months Ended
                              Sept. 30, June 30, March 31, Dec. 31, Sept. 30,
    (dollars in millions)         2009     2009      2009     2008      2008

    Commercial real estate        $7.7     $0.4      $1.0     $1.5      $1.2
    Residential mortgage           2.6      0.8       0.5      0.8       0.1
    PCLC                           2.0      1.8       0.8      0.5       0.2
    Commercial                     1.5      1.1       1.9      1.2       1.1
    Consumer                       1.3      1.2       1.2      0.9       0.6
    Indirect auto                  0.9      0.7       1.0      0.8       0.8
      Total                      $16.0     $6.0      $6.4     $5.7      $4.0

    Net loan charge-offs to
     average loans (annualized)   0.44%    0.16%     0.18%    0.16%     0.11%

SOURCE People's United Financial, Inc.

http://www.peoples.com

For the first nine months ended September 30, 2009, net income was $76.3 million, or $0.23 per diluted share, compared to $104.1 million, or $0.32 per diluted share, for the first nine months ended September 30, 2008.

Net interest income for the first nine months of 2009 was $429.3 million versus $483.1 million for the comparable period of 2008.

http://www.datamonitor.com

Republication or redistribution, including by framing or similar means,
is expressly prohibited without prior written consent. Datamonitor shall 
not be liable for errors or delays in the content, or for any actions 
taken in reliance thereon