February 7, 2003

People's Bank Names Head of Affordable Lending

BRIDGEPORT, CONN.
People's Bank today announced Stamford resident Timothy B. Hodges has been named vice president of the bank's Affordable Lending Group. Hodges is responsible for managing People's affordable lending programs and also will oversee all aspects of People's proprietary homebuyer education courses.

In addition, Hodges will further bolster various affinity mortgage programs that People's has with municipalities and companies around the state, which provide qualified applicants with reduced closing costs, fee-waived or fee-reduced banking products through People's, as well as discounts on home and auto insurance through RC Knox and Company, a subsidiary of People's Bank.

"Tim's current position clearly supports People's strategy of engaging customers by offering products and advice that meet their needs and exceed their expectations," said Wayne Walker, first vice president, Residential Lending at People's. "Tim's commitment to community service, coupled with his insights on consumer behavior, will help position People's as Connecticut's bank through our affordable lending efforts."

Hodges began his career at People's in 1997 as an associate in the Corporate Development Training Program. After learning various aspects of the financial services business, Hodges moved to Consumer Deposit Products in 1999, where, as a product management associate, he was responsible for competitive analysis and management of selected time deposit products. In addition, he sat on the bank's pricing committee. In 2000, Hodges became the bank's Community Relations manager and further developed his ties to the communities that People's serves.

Prior to joining People's, Hodges worked for U.S. Representative Christopher Shays, first in Stamford as finance director of Shays' campaign committee, and later as the congressman's legislative assistant in Washington, D.C.

Hodges graduated from Kean University, where he earned a bachelor's degree in management science and a master's degree in public administration. In addition, he has completed leadership programs at SACIA and the Bridgeport Regional Business Council.

Currently Hodges is a commissioner and vice chairman of the board for the Stamford Housing Authority. He sits on the board of the United Way of Stamford, where he also serves on the Community Impact and Fund Distribution committees, and is a former member of the board of Person-to-Person where he served on the Development Committee. In addition, Hodges recently became a member of the Affordable Housing Committee of the Connecticut Mortgage Bankers Association.

Hodges and his wife, Kelly, live in Stamford with their daughter, Hannah.

People's (peoples.com) is a diversified financial services company providing commercial, consumer, insurance and investment services. Founded in 1842, it is the largest state-chartered bank in Connecticut with managed assets of $13 billion, 155 branches and over 230 ATMs. People's is a leader in consumer and commercial banking, residential lending, insurance sales, supermarket banking and is the nation's 15th-largest issuer of MasterCard and Visa credit cards. People's subsidiaries offer brokerage services, asset management, equipment financing and leasing, and insurance services.