People’s United Financial, Inc. Announces OCC Approval for Suffolk County National Bank Acquisition

BRIDGEPORT, CT - FEBRUARY 6, 2017

People's United Financial, Inc. (NASDAQ: PBCT), the holding company for People's United Bank, N.A. ("People's United"), announced today that the Office of the Comptroller of the Currency ("OCC") has approved the merger of Suffolk County National Bank, of Riverhead, NY ("SCNB") with and into People's United. The transaction, announced June 27, 2016 and approved by the shareholders of Suffolk Bancorp (NYSE:SCNB), the holding company of SCNB, on October 13, 2016, remains subject to the approval of the Board of Governors of the Federal Reserve System.

About People’s United Bank, N.A.

People's United Bank, N.A. is a subsidiary of People's United Financial, Inc. (NASDAQ: PBCT), a diversified financial services company with $41 billion in assets. People’s United Bank, founded in 1842, is a premier, community-based, regional bank in the Northeast offering commercial and retail banking, as well as wealth management services through a network of nearly 400 branches in Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine. Visit us at peoples.com.