M&T Bank has announced the closure of eight branch locations situated within Stop & Shop stores across Connecticut, a decision that reflects the evolving needs of its customers. The New York-based financial institution will cease operations at these locations by the end of April 2023, impacting several communities statewide.
On April 16, branches at 2331 Dixwell Ave. in Hamden, 489 Bushy Hill Road in Simsbury, 200 E. Main St. in Stratford, and 50 Windsorville Road in Vernon will close. The remaining four branches, located at 4531 Main St. in Bridgeport, 1364 E. Town Road in Milford, 1790 Post Road East in Westport, and 5 River Road in Wilton, will follow suit on April 30. These closures will be accompanied by the installation of standalone ATMs to continue serving customer needs.
In addition to the closures at Stop & Shop, two other branches at 931 Torringford St. in Torrington and 410 Reidville Drive in Waterbury will also be affected. However, M&T Bank has secured leases for new standalone branch locations in both Torrington and Waterbury, aiming to enhance its service offerings in those areas.
A spokesperson for M&T Bank explained, “As the needs of our customers continue to evolve, we are committed to adapting our branch network to best serve our communities.” The bank emphasizes its ongoing dedication to its colleagues, customers, and the broader community in Connecticut.
M&T Bank regularly evaluates its branch network based on various factors to ensure it provides optimal advice and guidance tailored to community needs. The bank is actively increasing the number of standalone and full-service branches in the state, underscoring its commitment to customer service.
Importantly, the closure of these branches will not lead to layoffs. Employees at the affected locations will be offered positions at other branches, maintaining job security for those impacted. Currently, M&T Bank employs approximately 2,100 individuals across Connecticut and ranks as the third-largest bank in the state based on deposits.
M&T Bank, which merged with the former People’s United Bank in 2022, has been strategically adjusting its operations to better align with consumer preferences and market dynamics. The bank remains focused on delivering best-in-class financial services to its customers while ensuring that its workforce is supported during this transition.
