People's United Financial 8K Regulation FD Disclosure | PBCT 13 Jun 13

Supplemental Investor Presentation

June 2013

Investor Contact:

Peter Goulding, CFA

203-338-6799

peter.goulding@peoples.com

Exhibit 99.2

* * * * * * * * * * * * * * *

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," "should" 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

risks

and

uncertainties

that

could

cause

People's

United

Financial's

actual

results

financial

condition

differ

materially

from

those

expressed

implied

such

statements.

Factors

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; (10) the successful integration of acquisitions; and (11) changes in regulation

resulting from or relating to financial reform legislation. 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.

Forward-Looking Statement

Corporate Overview

Snapshot as of March 31, 2013

People’s United Financial, Inc.

NASDAQ (PBCT)

Headquarters:

Bridgeport, CT

Chief Executive Officer:

Jack Barnes

Chief Financial Officer:

Kirk Walters

Market Capitalization (6/11/13):

$4.6 billion

Assets:

$30.6 billion

Loans:

$22.2 billion

Deposits:

$21.8 billion

Branches:

417

ATMs:

633

Standalone ATMs:*

106

Founded:

1842

* Includes 20 ATMs in Stop & Shop locations where a branch is not present

Compelling Investment Opportunity

High quality Northeast footprint characterized by wealth and population density

Leading

market

position

the

best

commercial

banking

market

the

Significant

growth

runway

within

existing

markets

–

expanding

two

the

largest MSAs in the US (New York City, #1, Boston, #10)

Dividend yield of ~5%

Ability to maintain pristine credit quality –

no credit “events”

Improving profitability

High levels of liquidity

Capital deployment (organic growth, dividends, share repurchases, M&A) –

TCE/TA 9.6% vs. ~8.0% for peers

Retail & Business Banking Franchise

Distribution

400+ branches over 6 states

•

~33% of branches are in-store

600+ ATMs

Online & mobile banking

Call center operations located in Bridgeport,

CT and Burlington, VT

Scale

5th

in deposit market share in New England

Customer base

Approximately 800,000 commercial, business

banking and consumer relationships

Deepening Market Presence

Connecticut

Massachusetts

Vermont

New York

New Hampshire

Maine

Leading

market

position

the

best

commercial

banking

market

the

#1 in Fairfield County, CT, 65 branches, $6.1BN, 18.2% market share

Source: SNL Financial

Branches

$BN

B of A

155

24.5

24.0

Webster

124

12.1

11.8

People's United

165

10.9

10.7

Wells Fargo

7.3

7.2

TD Bank

5.9

5.8

First Niagara

4.6

4.5

JPM Chase

4.5

4.4

Citi

3.0

2.9

Liberty

2.9

2.8

RBS

2.6

2.5

Branches

$BN

B of A

262

54.6

25.0

RBS

254

30.9

14.1

Santander

229

18.9

8.6

TD Bank

157

10.8

5.0

Eastern Bank

6.8

3.1

Independent Bank

4.5

2.0

Middlesex

3.5

1.6

People's United

3.2

1.5

Boston Private

2.9

1.3

Century

2.4

1.1

Branches

$BN

People's United

2.6

22.4

TD Bank

2.6

22.0

Merchants

1.2

10.6

RBS

0.9

7.3

KeyCorp

0.8

6.7

Northfield

0.5

4.3

Community

0.4

3.7

Union

0.4

3.4

Passumpsic

0.3

2.9

Berkshire Hills

0.3

2.8

Branches

$BN

JPM Chase

804

393.1

38.3

Citi

268

69.6

6.8

B of A

365

60.6

5.9

HSBC

164

57.3

5.6

Capital One

277

39.0

3.8

M&T

299

33.3

3.3

TD Bank

222

22.4

2.2

KeyCorp

269

18.3

1.8

Wells Fargo

18.0

1.8

First Niagara

212

16.1

1.6

People's United

2.5

0.2

Branches

$BN

RBS

6.8

24.3

TD Bank

5.4

19.3

B of A

4.9

17.5

People's United

1.4

4.9

Merrimack

1.0

3.6

BNH

0.9

3.2

Santander

0.8

2.9

NH Thrift

0.8

2.8

Northway

0.7

2.4

Centrix

0.7

2.3

Branches

$BN

TD Bank

3.7

16.4

KeyCorp

2.7

11.7

Bangor Bancorp

2.0

8.9

Camden National

1.8

8.1

B of A

1.4

6.0

First Bancorp

1.0

4.6

Machias

0.8

3.6

People's United

0.8

3.5

Bar Harbor

0.8

3.4

Norway

0.7

3.2

Large and Attractive Markets

NYC-Northern NJ-LI

Population: 19.0MM

Median HH Income: $60,512

Businesses: 781,444

Population Density (#/sq miles): 2,847

Unemployment Rate (%): 8.1

$100K+ Households (%): 30.8

Boston, MA

Population: 4.6MM

Median HH Income: $67,700

Businesses: 203,770

Population Density (#/sq miles): 1,319

Unemployment Rate (%): 5.9

$100K+ Households (%): 33.8

Hartford, CT

Population: 1.2MM

Median HH Income: $63,997

Businesses: 52,315

Population Density (#/sq miles): 803

Unemployment Rate (%): 8.2

$100K+ Households (%): 30.4

Bridgeport-Stamford, CT

Population: 922,000

Median HH Income: $80,342

Businesses: 49,392

Population Density (#/sq miles): 1,476

Unemployment Rate (%): 7.7

$100K+ Households (%): 41.5

New Haven, CT

Population: 863,000

Median HH Income: $58,598

Businesses: 36,800

Population Density (#/sq miles): 1,427

Unemployment Rate (%): 8.5

$100K+ Households (%): 28.1

Burlington, VT

Population: 215,000

Median HH Income: $55,875

Businesses: 10,846

Population Density (#/sq miles): 171

Unemployment Rate (%): 3.6

$100K+ Households (%): 21.9

Notes: The current national unemployment rate is 7.5%

The current national population density is 89 (#/sq miles)

The population densities of NYC, Boston, Bridgeport and New Haven MSAs are over

ten times the national average

Strong Market Demographic Profile

Source: SNL Financial, US Census data for 2012

Weighted Average Median Household Income

Total Deposits ($MM)

6,053

2,926

2,479

2,063

1,970

1,241

Market Total Deposits ($MM)

33,334

117,089

556,863

25,508

17,111

4,499

Branch Count

18.2

2.5

0.5

8.1

11.5

27.6

0.0

5.0

10.0

15.0

20.0

25.0

30.0

Bridgeport-

Stamford, CT

Boston, MA

NYC-Northern

NJ-LI

Hartford, CT

New Haven,

Burlington, VT

Deposit Market Share by MSA (%) *

We hold significant market share in several key northeast MSAs and are building our

presence in areas with substantial growth potential, such as the

Boston and New

York City MSAs

Source: SNL Financial

* Excludes deposits from trust institutions and branches with over $750MM deposits

** Excludes six of the acquired Citizens branches located outside the NYC MSA

Large New Markets

Connecticut

In-store

Versus

Traditional

Branch

Business

(Last

Twelve

Months

Through

3/31/13)

In-store Versus Traditional Branches

Connecticut

On average, in-store locations are open 37% more hours per week than traditional

branches (56 hours vs. 41 hours) but are 30% less expensive to operate

Partnership allows us to leverage our brand with the ~1.8 million shoppers who visit Connecticut

Stop & Shop stores every week

In-store locations operate under the same business model as traditional branches

and sell all the Bank’s products and services

Mortgages, Home Equity Loans, Business Loans and Investments*

Connecticut in-store branches accounted for a significant portion of the new

branch business booked in the market

* Sold by employees who are also licensed representatives of our

brokerage affiliate

1Q13 Total Loan Portfolio

$22.2 BN

Loans by Business Line

CRE

$7.2

32%

C&I

$5.4

24%

Residential

Mortgage

$4.0

18%

Home Equity &

Other

$2.1

10%

PCLC

$1.6

Business Banking

$1.1

PUEFC

$0.8

Connecticut

$6.7

30%

Massachusetts

$4.0

18%

New York

$3.1

14%

Vermont

$1.8

New Hampshire

$1.3

Maine

$0.9

New Jersey

$0.6

Pennsylvania

$0.2

Maryland

$0.2

Other

$3.3

15%

Loans by Geography

Notes: Reporting is based on the collateral property address for the following: SNE Residential Mortgage,

Consumer

Home

equity,

Consumer

Other

and

CRE.

Reporting

based

borrower

address

for

the

following: C&I, Residential construction and NNE loans.

1Q13 Total Loan Portfolio

$22.2 BN

Excluding

equipment

finance loans,

~95% of our

1Q13 loan

portfolio is within

the Northeast

Revenue Opportunities

Continue to deepen our presence in heritage markets such as Connecticut and

Vermont

Substantial growth prospects in larger markets such as New York metro and Boston

Total New York 1Q 2013 loan originations run-rate ~$1.9BN represents a +560% CAGR since 1Q

2010

•

Increased New York relationship managers to 13 from zero since 1Q 2010

•

Significant branch expansion in New York with 97 branches up from 5 in 1Q 2010; ~55% of branches are in-

store locations

Total Massachusetts 1Q 2013 loan originations run-rate ~$660MM represents a +40% CAGR since

1Q 2010

•

Increased Massachusetts relationship managers to 27 from 14 since 2010

•

Solid branch foundation in Massachusetts with 56 branches up from 19 in 1Q 2010

•

Currently 3 de novo branches over $40MM deposits: Prudential Center in Boston (opened Nov. 2010); Milk

Street in Boston (opened Dec. 2010); Lexington, MA (opened Jul. 2011)

Revenue Opportunities

Under-represented asset classes ramping up

Asset-based lending: focused on in-footprint companies with sales of $15MM-$250MM; credit needs

range from $5MM-$35MM; $600BN market, 70% of which is located in the Northeast

Mortgage Warehouse lending: $1.2BN in commitments and $659MM in outstandings; estimated

market size is over $28BN in outstandings

New York Commercial Real Estate: hiring talent in the New York metro area, which is a $30BN

annual market with a population of 19.0MM, 6.9MM housing units and 3.4MM rental units

Private Banking: hired senior executive from mega-cap bank with ~20 years managing private

banking in the Northeast with initial focus on CT, metro New York and metro Boston

Enhancing wealth management offering

Proprietary asset allocation and risk management strategies are implemented with a suite of external

managers who represent our "best in class" recommendations

•

Proprietary asset allocation allows us to “rent”

intellectual capital –

no customer funds leave the bank

Hired executive from PNC as Senior Vice President and Chief Investment Officer

Increasing momentum in other fee income businesses with a focus on cross-sell

Commercial

insurance:

revamped

systems

and

combined

all

agencies

into

single

entity;

focused

our deep commercial customer base as well as the education sector

Hired executive from TD to lead cash management business

Growing merchant and payroll services

Expense Progress

Estimated Cost Savings Analysis

Source: SNL Financial

Note:

“Pro

Forma

Actual”

represents

PBCT

operating

noninterest

expense

and

the

actual

expenses

the

acquired

institutions.

Acquisition target costs fall away as the acquisitions are completed.

“Without

Expense

Initiatives”

represents

PBCT

operating

noninterest

expense

and

the

actual

expenses

the

acquired

institutions in 4Q09, and then applies the peer median expense growth rate in each subsequent quarter.

Our 1Q 2013 operating expense base of $204MM reflects $29MM (~$114MM annualized)

savings from successfully-executed expense initiatives

233

204

$50

$100

$150

$200

$250

Without Expense

Initiatives

Announced Acquisition

Savings

Other Initiatives

Pro Forma / Actual

Operating Noninterest Expense ($MM)

Expense Progress

Estimated Cost Savings Analysis

Source: SNL Financial

Note:

“Pro

Forma

Actual”

represents

PBCT

operating

noninterest

expense

and

the

actual

expenses

the

acquired

institutions.

Acquisition target costs fall away as the acquisitions are completed

“Without

Expense

Initiatives”

represents

PBCT

operating

noninterest

expense

and

the

actual

expenses

the

acquired

institutions in 4Q09, and then applies the peer median expense growth rate in each subsequent quarter

The $29MM in quarterly cost reductions is attributable to efforts related to

acquisition cost savings and other initiatives

Total

Non-Operating

Operating

Non-Interest Expense

Linked Quarter Change

(in $ millions)

207.4

212.0

204.5

5.1

2.7

1.1

(3.2)

(1.1)

204.0

2.9

8.0

4Q 2012

Non-

Operating

Payroll

Related Costs

REO Expense

Prof &

Outside Svc

Other

1Q 2013

Efficiency Ratio (%)

Since 1Q 2010

76.1%

73.1%

72.4%

71.9%

66.0%

65.5%

62.4%

62.3%

63.6%

61.5%

61.4%

63.1%

64.1%

2010

2011

2012

2013

EMOC has been fully operational since November 2011

Three person committee comprised of the CFO, Chief Administrative Officer and Chief HR Officer

EMOC oversees PBCT’s noninterest expense management, implements strategies to

ensure attainment of expense management targets and oversees revenue initiatives

that require expenditures

Provides a horizontal view of the organization

Expense Management Units (EMUs) established to facilitate EMOC functions

Defined EMUs include:

•

Technology

•

Operations

•

Real Estate Services

Spending requests above $25,000 are submitted by EMU owners for approval

Staffing models, staffing replacements and additions for mid-level positions and

above require approval by the Committee

Introduction to EMOC

Expense Management Oversight Committee (EMOC)

•

Employment/Benefits

•

Marketing

•

Regulatory/Institutional

•

Depreciation/Equipment

•

Decentralized

•

Intangible Amortization

3.63%

3.38%

0.01%

(0.07%)

(0.05%)

(0.04%)

(0.03%)

(0.02%)

4Q 2012

Investments

Senior

Notes

Calendar

Days

New loan

volume

Acquired

loan

accretion

Loan

repricing/

amort

Deposit

Rates/ Mix

1Q 2013

Operating Net Interest Margin

Linked Quarter Change

(%)

Net Interest Margin (%)

3.97

3.88

3.82

3.63

3.38

3.97

3.96

3.89

3.63

3.38

1Q 2012

2Q 2012

3Q 2012

4Q 2012

1Q 2013

Margin- Operating

Margin- GAAP

Note: GAAP margin includes cost recovery income

Acquired Loan Portfolio

Acquired loans initially recorded at fair value (inclusive of related credit mark) without carryover of

historical ALLL

Accounting model is cash-flow based:

Contractual

cash

flows

(principal

interest)

less

expected

cash

flows

(principal

interest)

non-accretable

difference (effectively utilized to absorb actual portfolio losses)

Expected cash flows (principal & interest) less fair value = accretable yield

Expected cash flows are regularly reassessed and compared to actual cash collections

As of 3/31/13

(in $ millions)

Carrying

Amount

a, b

Carrying Amount Component

NPLs

Non-Accretable

Difference/NPLs

Charge-offs

Incurred Since

Acquisition

Accretable

Yield

Non-Accretable

Difference

Danvers (7/1/11)

$ 971.6

$316.1

$ 17.8

$ 49.1

36%

$ 19.6

Smithtown (11/30/10)

711.3

338.6

110.1

77.9

141%

127.0

Others (various dates)

400.2

92.3

29.1

53.7

54%

28.4

Total

$2,083.1

$747.0

$157.0

$180.7

(a)

Initial carrying amounts of acquired portfolios are as follows: FinFed, $1.2BN; Butler, $141MM; RiverBank, $518MM; Smithtown, $1.6BN; and Danvers, $1.9BN.

(b)

Carrying amount and related components reflect loan sale, settlement and payoff activity which have occurred since acquisition.

(c)

Represent contractual amounts; loans meet People’s United Financial’s definition of a non-performing loan but are not subject to classification as non-accrual in the same manner as

originated loans. Rather, these loans are considered to be accruing loans because their interest income relates to the accretable yield recognized at the pool level and not to

contractual interest payments at the loan level.

(d)

Includes approximately $6.0MM of charge-offs applied against reserves established subsequent to acquisition.

Acquired Loan Portfolio

Amortization of Original Discount on Acquired Loan Portfolio

Note:

Excluding FinFed, the weighted average coupon on the acquired loan portfolio is 4.91%

Represents

the

difference

between

the

outstanding

balance

the

acquired

loan

portfolio

and

the

carrying

amount

the

acquired loan portfolio

$ in millions, except per share data

Impact on Net Interest Margin

Impact on Earnings Per Share

1Q13 Total Accretion (All interest income on acquired loans)

Interest Income from Amortization of Original Discount on Acq. Loan Portfolio

9.1

4Q12 Acquired Loan Portfolio Carrying Amount

2,238

1Q13 Effective Tax Rate

32.5%

1Q13 Acquired Loan Portfolio Carrying Amount

2,083

1Q13 Average Acquired Loan Portfolio

2,161

1Q13 Earnings from Amortiz. of Original Discount on Acq. Loan Portfolio

6.2

Effective Yield on Acquired Loan Portfolio

6.85%

1Q13 Weighted Average Shares Outstanding

325.2

Weighted Average Coupon on Acquired Loan Portfolio

5.16%

1Q13 EPS Impact from Amortiz. of Discount on Acq. Loan Portfolio

$0.02

Incremental Yield Attributable to Amortiz. of Discount on Acq. Loan Portfolio

1.69%

Incremental Interest Income from Amortiz. of Discount on Acq. Loan Portfolio

9.1

1Q13 Average Earning Assets

26,421

Add: Average unamortized loan discount

Adjusted 1Q13 Average Earning Assets

26,477

Impact on Overall Net Interest Margin (bps)

Operating Net Interest Margin

3.38%

Adjusted Net Interest Margin

3.24%

Amortization of Original Discount on Acquired Loan Portfolio

Summary of Acquired Loan Accounting Events

(in $ millions)

Period

Cost Recovery Income

Gain (Loss) on Sale of

Acquired Loans

Acquired Loan

Impairment

Net Impact

2011

0.0

5.5

0.0

5.5

0.0

7.2

0.0

7.2

0.0

(4.8)

0.0

(4.8)

5.0

(0.4)

(7.4)

(2.8)

2012

0.0

(0.3)

4.7

0.7

0.2

5.6

4.1

0.0

(5.7)

(1.6)

0.0

0.3

0.0

0.3

2013

0.0

(2.6)

Total

$13.8

$8.5

($15.8)

$6.5

Since 2010, we have acquired $5.4BN of loans, approximately 40% of which

remain in our portfolio. We did not recognize cost recovery income, gains

(losses) on sale or impairment in 2010. Since 1Q 2011, the net impact of such

activity is +$6.5MM

Loans

Linked Quarter Change

(in $ millions)

Annualized Linked QTD change

7.8%

21,737

498

(155)

22,161

Dec 31, 2012

Commercial

Banking

Retail

Acquired

Mar 31, 2013

Deposits

Linked Quarter Change

(in $ millions)

84.3

82.9

(1.3)

(0.8)

(0.4)

1.6

0.4

(0.6)

(0.3)

4Q 2012

Bank Service

Charges

Loan Prepay

Fees

Gain on Resi

Mtg loan sales

Gain on Acq

loan sales

Insurance

Brokerage

Commission

Other

1Q 2013

Non-Interest Income

Linked Quarter Change

(in $ millions)

1.42

1.89

2.42

1.00

2.00

3.00

4.00

1Q 2010

2Q 2010

3Q 2010

4Q 2010

1Q 2011

2Q 2011

3Q 2011

4Q 2011

1Q 2012

2Q 2012

3Q 2012

4Q 2012

1Q 2013

PBCT

Peer Group Median

Top 50 Banks by Assets

Since 1Q 2010

Asset Quality

NPAs / Loans & REO* (%)

Non-performing

assets

(excluding

acquired

non-performing

loans)

percentage

originated

loans

plus

all

REO

and

repossessed

assets;

acquired

non-performing

loans

excluded

risk

loss

has

been

considered

virtue

(i)

our

estimate

acquisition-date

fair

value,

(ii)

the

existence

FDIC

loss

sharing

agreement,

and/or

(iii)

allowance

for

loan

losses

established

subsequent

acquisition

Source: SNL Financial and Company filings

Since 1Q 2010

Asset Quality

Net Charge-Offs / Avg. Loans (%)

Source: SNL Financial and Company filings

Excluding acquired loan charge-offs, PBCT’s 1Q 2013 charge-off ratio was 0.18%

Historical Charge-off Experience

2007 –

2012

0.10%

0.29%

0.40%

0.28%

0.21%

0.0%

0.5%

1.0%

1.5%

2.0%

2007

2008

2009

2010

2011

2012

Operating ROAA Progress

Since 1Q 2010

0.60%

0.57%

0.48%

0.61%

0.85%

0.90%

0.96%

0.84%

0.86%

0.97%

0.91%

0.87%

0.77%

2010

2011

2012

2013

Operating ROATE Progress

Since 1Q 2010

3.5%

3.4%

2.9%

4.0%

6.4%

6.9%

7.8%

7.2%

7.8%

8.9%

8.6%

8.1%

2010

2011

2012

2013

Operating Dividend Payout Ratio

Since 1Q 2010

175%

180%

209%

157%

104%

98%

87%

96%

93%

82%

84%

85%

91%

2010

2011

2012

2013

Growing Future Earnings Per Share

Loans and Deposits per Share

Loans

Deposits

Over the past two years, loans per share and deposits per share have grown at

compound annual rates of 16% and 13%

$68.14

$40

$45

$50

$55

$60

$65

$70

$14

$15

$16

$17

$18

$19

$20

$21

$22

$23

4Q10

1Q11

2Q11

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

1Q13

Gross Loans ($BN)

Loans per Share

$67.01

$40

$45

$50

$55

$60

$65

$70

$14

$15

$16

$17

$18

$19

$20

$21

$22

$23

4Q10

1Q11

2Q11

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

1Q13

Deposits ($BN)

Deposits per Share

Substantial Progress in the Midst of a Financial Crisis

Growing Loans, Deposits and Returning Capital to Shareholders

Growth has outpaced peers on the key metrics of loans per share and

deposits per share

This has occurred while we have returned $1.9BN to shareholders

during this period. Returns of capital were in the form of both

dividends ($1.1BN) and share repurchases ($0.8BN) which represents

over 40% of our current market capitalization

Line Item

PBCT

Peer

Median

PBCT Vs.

Peers

5-Year Loans Per Share CAGR

9.2%

-1.2%

+10.4%

5-Year Deposits Per Share CAGR

7.8%

2.5%

+5.3%

Notes:

5-Year CAGR figures based on 1Q 2008 to 1Q 2013 data

Notes:

Leverage

(core)

Capital

represents

Tier

Capital

(total

stockholder’s

equity,

excluding:

(i)

after-tax

net

unrealized

gains

(losses)

certain

securities

classified

available

for

sale;

(ii)

goodwill

and

other

acquisition-related

intangibles;

and

(iii)

the

amount

recorded

accumulated

other

comprehensive

income

(loss)

relating

pension

and

other

postretirement

benefits),

divided

by Adjusted Total Assets (period end total assets less goodwill and other acquisition-related intangibles)

Tier 1 Common represents total stockholder’s equity, excluding goodwill and other acquisition-related intangibles, divided by Total Risk-Weighted Assets

Tier 1 Risk-Based Capital represents Tier 1 Capital divided by Total Risk-Weighted Assets

Total

Risk-Based

Capital

represents

Tier

Capital

plus

subordinated

notes

and

debentures,

certain

limits,

and

the

allowance

for

loan

losses,

1.25%

total

risk

weighted assets, divided by Total Risk-Weighted Assets

Well capitalized limits for the Bank are: Leverage Ratio, 5%; Tier 1 Risk-Based Capital, 6%; and Total Risk-Based Capital, 10%

Capital Ratios

Since 1Q 2010

1Q 2010

1Q 2011

1Q 2012

2Q 2012

3Q 2012

4Q 2012

1Q 2013

People’s United Financial

Tang. Com. Equity/Tang.

Assets

18.7%

13.9%

11.7%

11.4%

11.2%

10.2%

9.6%

Leverage Ratio

1, 5

19.2%

14.5%

12.1%

11.8%

11.5%

10.6%

10.0%

Tier 1 Common ²

23.1%

17.1%

13.9%

13.6%

12.7%

12.0%

Tier 1 Risk-Based Capital

3, 5

23.9%

17.9%

14.4%

14.1%

13.2%

12.5%

Total Risk-Based Capital

4, 5

25.6%

19.4%

16.0%

15.6%

14.7%

13.7%

People’s United Bank

Leverage Ratio

1, 5

12.3%

11.4%

11.0%

10.9%

10.8%

9.8%

9.7%

Tier 1 Risk-Based Capital

3, 5

15.4%

13.9%

13.1%

13.0%

13.2%

12.2%

12.1%

Total Risk-Based Capital

4,5

16.3%

14.8%

14.0%

14.1%

13.1%

13.5%

Strong Sources of Liquidity

PBCT maintains high levels of liquidity and is over 90% funded by deposits, retail

repurchase agreements, senior debt and common equity

Strong branch franchise and commercial customer base predominantly funds loan base

Citizens transaction provides a significant long-term opportunity to grow

deposits and customer relationships in southern New York, specifically on Long

Island and in Westchester County

Additional liquidity of $2.5BN exists in the form of unpledged U.S. Agency MBS &

CMO’s

Federal Home Loan Bank (FHLB) relationship enables up to $2.4BN of additional

borrowings

For 1Q 2013 we were twice as asset sensitive as the estimated median of our peer group

Currently for an immediate parallel increase of 100bps, our net interest income is projected to

increase by ~$47MM on an annualized basis

Yield curve twist scenarios confirm that we are reasonably well protected from bull flattener

(short rates are unchanged, long rates fall) and benefit considerably from bear flattener

environments (short rates rise, long rates are unchanged)

Notes:

Analysis is as of 03/31/13 filings

Data as of 03/31/13 SEC filings; where exact +100bps shock up scenario data was not provided, PBCT interpolated based on data disclosed

Data as of 03/31/13 SEC filings; where exact +200bps shock up scenario data was not provided, PBCT interpolated based on data disclosed

Current Asset Sensitivity

Net Interest Income at Risk ¹

Analysis involves PBCT estimates, see notes below

Change in Net Interest Income

Scenario

Lowest

Amongst Peers

Highest

Amongst Peers

Peer Median

PBCT Multiple to

Peer Median

Shock Up

100bps ²

-2.5%

7.9%

2.7%

1.8x

Shock Up

200bps ³

-4.0%

15.8%

5.2%

2.1x

Summary

Sustainable Competitive Advantage

Premium brand built over 170 years

High quality Northeast footprint characterized by wealth, density and

commercial activity

Strong leadership team

Solid net interest margin

Superior asset quality

Focus on relationship-based banking

Growing

loans

and

deposits

within

footprint

two

the

largest

MSAs

the country (New York City, #1 and Boston, #10)

Improving profitability

Returning capital to shareholders

Strong capital base

Appendix

*********

****************************************

Allowance for Loan Losses

Originated Portfolio Coverage Detail as of 3/31/13

(in $ millions)

1.13%

1.11%

0.00%

0.50%

1.00%

1.50%

2.00%

NPLs:Loans

ALLL:Loans

Commercial

Banking

1.57%

0.32%

0.00%

0.50%

1.00%

1.50%

2.00%

NPLs:Loans

ALLL:Loans

Retail Banking

Commercial ALLL -

$159.5 million

98% of Commercial NPLs

Retail ALLL -

$18.0 million

20% of Retail NPLs

Total ALLL -

$177.5 million

71% of Total NPLs

1.25%

0.88%

0.00%

0.50%

1.00%

1.50%

2.00%

NPLs:Loans

ALLL:Loans

Total

Name

Position

Years in

Banking

Professional

Experience

Jack Barnes

President & CEO, Director

30+

People’s United Bank (SEVP, CAO),

Chittenden, FDIC

Kirk Walters

SEVP & CFO, Director

25+

People’s United Bank, Santander, Sovereign,

Chittenden, Northeast Financial

Jeff Tengel

SEVP Commercial Banking

30+

People’s United Bank, PNC, National City

Bob D’Amore

SEVP Retail & Business Banking

30+

People’s United Bank

Louise Sandberg

SEVP Wealth Management

30+

People’s United Bank, Chittenden

Lee Powlus

SEVP & Chief Administrative Officer

25+

People’s United Bank, Chittenden, Alltel

Chantal Simon

SEVP & Chief Risk Officer

20+

People’s United Bank, Merrill Lynch US Bank,

Lazard Freres & Co.

Dave Norton

SEVP & Chief HR Officer

People’s United Bank, New York Times,

Starwood, PepsiCo

Bob Trautmann

SEVP & General Counsel

20+

People’s United Bank, Tyler Cooper & Alcorn

Management Committee

Peer Group

Firm

Ticker

City

State

Associated

ASBC

Green Bay

BancorpSouth

BXS

Tupelo

City National

CYN

Los Angeles

Comerica

CMA

Dallas

Commerce

CBSH

Kansas City

Cullen/Frost

CFR

San Antonio

East West

EWBC

Pasadena

First Niagara

FNFG

Buffalo

FirstMerit

FMER

Akron

Fulton

FULT

Lancaster

Huntington

HBAN

Columbus

M&T

MTB

Buffalo

New York Community

NYCB

Westbury

Signature

SBNY

New York

Susquehanna

SUSQ

Lititz

Synovus

SNV

Columbus

Valley National

VLY

Wayne

Webster

WBS

Waterbury

Wintrust

WTFC

Lake Forest

Zions

ZION

Salt Lake City

In addition to evaluating People’s United Financial’s results of operations in accordance with U.S. generally

accepted accounting principles (“GAAP”), management routinely supplements this evaluation with an analysis

of certain non-GAAP financial measures, such as the efficiency and tangible equity ratios, tangible book value

per share and operating earnings metrics. 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 and operating earnings metrics are used by management in its assessment of financial performance,

including 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

approximate

measure

the

cost

required

People’s

United

Financial

generate

dollar

revenue,

the

ratio

(i)

total

non-interest

expense

(excluding

goodwill

impairment charges, amortization of other acquisition-related intangible assets, losses on real estate assets

and

non-recurring

expenses)

(the

numerator)

(ii)

net

interest

income

fully

taxable

equivalent

("FTE")

basis plus total non-interest income (including the FTE adjustment on bank-owned life insurance ("BOLI")

income, and excluding gains and losses on sales of assets other than residential mortgage loans, and non-

recurring income) (the denominator). People’s United Financial generally considers an item of income or

expense to be non-recurring 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.

Non-GAAP Financial Measures and Reconciliation to GAAP

Operating earnings exclude from net income those items that management considers to be of such a non-

recurring or infrequent nature that, by excluding such items (net of income taxes), People’s United Financial’s

results can be measured and assessed on a more consistent basis from period to period. Items excluded from

operating earnings, which include, but are not limited to, merger-related expenses, charges related to

executive-level management separation costs, severance-related costs and writedowns of banking house

assets, are generally also excluded when calculating the efficiency ratio. Operating earnings per share is

derived by determining the per share impact of the respective adjustments to arrive at operating earnings and

adding (subtracting) such amounts to (from) GAAP earnings per share. Operating return on average assets is

calculated by dividing operating earnings (annualized) by average assets. Operating return on average

tangible stockholders' equity is calculated by dividing operating earnings (annualized) by average tangible

stockholders' equity. The operating dividend payout ratio is calculated by dividing dividends paid by operating

earnings for the respective period.

Operating net interest margin excludes from the net interest margin those items that management considers to

be of such a discrete nature that, by excluding such items, People’s United Financial’s net interest margin can

be measured and assessed on a more consistent basis from period to period. Items excluded from operating

net interest margin include cost recovery income on acquired loans and changes in the accretable yield on

acquired loans stemming from periodic cash flow reassessments. Operating net interest margin is calculated

by dividing operating net interest income (annualized) by average earning assets.

Non-GAAP Financial Measures and Reconciliation to GAAP

The

tangible

equity

ratio

the

ratio

(i)

tangible

stockholders’

equity

(total

stockholders’

equity

less

goodwill

and

other

acquisition-related

intangible

assets)

(the

numerator)

(ii)

tangible

assets

(total

assets

less

goodwill

and other acquisition-related intangible assets) (the denominator). Tangible book value per share is calculated

by dividing tangible stockholders’

equity by common shares (total common shares issued, less common

shares classified as treasury shares and unallocated Employee Stock Ownership Plan ("ESOP") common

shares).

In light of diversity in presentation among financial institutions, the methodologies used by People’s United

Financial for determining the non-GAAP financial measures discussed above may differ from those used by

other financial institutions. Please refer to People’s United Financial’s latest Form 10-Q regulatory filing for

detailed reconciliations to GAAP figures.

Non-GAAP Financial Measures and Reconciliation to GAAP

For more information, investors may contact:

Peter Goulding, CFA

203-338-6799

peter.goulding@peoples.com

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People's United Financial (PBCT) 8-KRegulation FD Disclosure