People's United Financial (PBCT) 8-K People’s United Financial Reports Second Quarter

Second Quarter 2015 Results

July 16, 2015

NASDAQ: PBCT

Exhibit 99.2

1

Forward-Looking Statement

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

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) changes in accounting and regulatory guidance

applicable to banks; (7) price levels and conditions in the public securities markets generally;

(8) competition and its effect on pricing, spending, third-party relationships and revenues; and (9) 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.

2

Second Quarter 2015 Overview

•

Operating earnings of $63.7 million, an increase of 6% from the prior year quarter

•

Net

interest

income

of

$230

million,

an

increase

of

1%

•

Net interest margin of 2.88%, a decrease of 3 basis points

•

Loan growth of $633 million, 9% annualized growth rate

•

Organic deposit growth of $298 million, 5% annualized growth rate

•

Non-interest

income

of

$83

million,

a

decrease

of

7%,

but

an

increase

of

4%

from

the

prior

year

quarter

•

Operating expenses of $209 million, a decrease of 1%

•

Efficiency ratio of 61.6%, an improvement of 3 basis points

•

Net loan charge-offs of 0.05%, an improvement of 6 basis points

(Comparisons versus first quarter 2015, unless noted differently)

1

Net interest income on a fully taxable equivalent basis for 1Q 2015 and 2Q 2015 was $233.9 million and $237.0 million, respectively.

2

Excludes $20.6 million non-operating gain on merchant services joint venture in the second quarter 2014.

1

2

1Q 2015

Calendar

Day

Originated

Loans

Investments

Deposits

Acquired

Loans

Borrowings

2Q 2015

3

Net Interest Income

($ in millions)

Linked Quarter Change

$1.7

$228.1

$230.4

($1.4)

1

Net interest income on a fully taxable equivalent basis for 1Q 2015 and 2Q 2015 was $233.9 million and $237.0 million, respectively.

($1.0)

($0.2)

$1.7

$1.5

1

4

Net Interest Margin

1Q 2015

Calendar

Day

Investments

Loan

Yield & Mix

Deposits

2Q 2015

Linked Quarter Change

0.02%

0.01%

2.91%

2.88%

(0.04%)

(0.02%)

5

Loans

($ in millions)

March 31, 2015

Commercial

Retail

Acquired

June 30, 2015

Linked Quarter Change

$528

$163

($58)

$26,929

$27,562

Annualized linked quarter change: +9.4%

6

Deposits

March 31, 2015

Commercial

Retail

June 30, 2015

Linked Quarter Change

$310

($25)

Retail

$19,303

($ in millions)

Annualized linked quarter change: +4.2%

Commercial

$7,847

Commercial

$8,157

$27,150

$27,435

Retail

$19,278

1

Commercial includes Municipal deposits of $1,608 at 3/31/2015 and $1,459 at 6/30/2015

2

Retail includes brokered deposits of $2,629 at 3/31/2015 and $2,616 at 6/30/2015

1

2

1

2

7

Non-Interest Income

($ in millions)

1Q 2015

Commercial

Banking

Lending Fees

Customer

Interest Rate

Swap Income

Net Gains

on Sales of

Acquired Loans

Insurance

Bank

Service

Charges

Net Gains

on Sales of Resi.

Mortgage Loans

Other

2Q 2015

Linked Quarter Change

$1.4

$89.0

$83.0

($3.3)

($3.1)

($2.1)

($1.1)

$0.9

$1.3

8

Non-Interest Expense

($ in millions)

1Q 2015

Non-Operating

Compensation

& Benefits

Occupancy

& Equipment

Professional &

Outside Services

Advertising

& Promotion

Other

2Q 2015

Linked Quarter Change

$211.6

($3.0)

$208.8

$6.0

$217.6

$211.8

Operating

Non-Operating

$3.0

$1.5

($5.1)

($1.9)

$1.1

$1.6

9

Efficiency Ratio

61.8%

61.4%

61.3%

61.9%

61.6%

2Q 2014

3Q 2014

4Q 2014

1Q 2015

2Q 2015

10

Asset Quality

NPAs / Loans & REO (%)

Source: SNL Financial and Company filings

Notes: Top 50 Banks represents the largest 50 banks by total assets in each respective quarter

0.83

0.5

1.0

1.5

2.0

2.5

2Q 2014

3Q 2014

4Q 2014

1Q 2015

2Q 2015

PBCT

Peer Group (Median)

Top 50 Banks (Median)

1

1

Non-performing assets (excluding acquired non-performing loans) as a percentage of originated loans plus all REO and repossessed

assets; acquired non-performing loans excluded as risk of loss has been considered by virtue of (i) our estimate of acquisition-date fair

value, (ii) the existence of an FDIC loss sharing agreement, and/or (iii) allowance for loan losses established subsequent to acquisition

11

Asset Quality

Net Charge-Offs / Average Loans (%)

1

1

Excluding acquired loan charge-offs, PBCT’s charge-off ratio was 0.05%, 0.11%, 0.13%, 0.12% and 0.09%, in 2Q 2015, 1Q 2015, 4Q 2014, 3Q 2014,

and 2Q 2014, respectively

Source: SNL Financial and Company filings

Notes: Top 50 Banks represents the largest 50 banks by total assets in each respective quarter

0.05

0.0

0.1

0.2

0.3

0.4

2Q 2014

3Q 2014

4Q 2014

1Q 2015

2Q 2015

PBCT

Peer Group (Median)

Top 50 Banks (Median)

12

Operating Return on Average Assets

0.72%

0.74%

0.75%

0.71%

0.70%

2Q 2014

3Q 2014

4Q 2014

1Q 2015

2Q 2015

13

Operating Return on Average Tangible Equity

9.6%

9.9%

10.1%

9.9%

9.8%

2Q 2014

3Q 2014

4Q 2014

1Q 2015

2Q 2015

14

Capital Ratios

(Effective January 1, 2015, all ratios calculated in accordance with Basel III)

Basel III Notes:

1.

Tier 1 Leverage ratio represents Tier 1 Capital divided by Average Total Assets (less goodwill, other acquisition-related intangibles and other deductions from Common Equity Tier 1 Capital)

2.

Common

Equity

Tier

1

Capital

ratio

represents

total

stockholder’s

equity,

excluding:

(i)

after-tax

net

unrealized

gains

(losses)

on

certain

securities

classified

as

available

for

sale;

(ii)

after-tax

net

unrealized

gains

(losses)

on

securities

transferred

to

held

to

maturity;

(iii)

goodwill

and

other

acquisition-related

intangibles;

and

(iv)

the

amount

recorded

in

accumulated

other

comprehensive

income

(loss)

relating

to

pension

and

other

postretirement benefits divided by Total Risk-Weighted Assets

3.

Tier 1 Risk-Based Capital ratio represents Common Equity Tier 1 Capital plus additional Tier 1 Capital (together, "Tier 1 Capital") divided by Total Risk-Weighted Assets

4.

Total Risk-Based Capital ratio represents Tier 1 Capital plus subordinated notes and debentures, up to certain limits, and the allowance for loan losses, up to 1.25% of Total Risk-Weighted Assets, divided by Total Risk-

Weighted Assets

5.

Well capitalized limits under Basel III capital rules are: Tier 1 Leverage Ratio, 5%; Common Equity Tier 1 Capital Ratio, 6.5%; Tier 1 Risk-Based Capital Ratio, 8%; and Total Risk-Based Capital Ratio, 10%

2Q 2014

3Q 2014

4Q 2014

1Q 2015

2Q 2015

People’s United Financial

Tang. Com. Equity/Tang. Assets

7.9%

7.8%

7.5%

7.5%

7.4%

Tier 1 Leverage

1, 5

8.3%

8.1%

7.9%

8.3%

8.2%

Common Equity Tier 1 Capital

2, 5

10.0%

9.9%

9.8%

10.0%

9.9%

Tier 1 Risk-Based Capital

3, 5

10.0%

9.9%

9.8%

10.0%

9.9%

Total Risk-Based Capital

4, 5

12.5%

12.3%

12.2%

11.9%

11.8%

People’s United Bank

Tier 1 Leverage

1, 5

9.0%

8.8%

8.5%

8.8%

8.6%

Common Equity Tier 1 Capital

2, 5

10.8%

10.7%

10.5%

10.6%

10.4%

Tier 1 Risk-Based Capital

3, 5

10.8%

10.7%

10.5%

10.6%

10.4%

Total Risk-Based Capital

4, 5

13.5%

13.3%

13.0%

13.1%

12.9%

15

Interest Rate Risk Profile

Net Interest Income (NII) Sensitivity

1

Yield curve twist pivot point is 18 month point on yield curve.  Short End defined as overnight to 18 months. 

Long End defined as terms greater than 18 months.

-1.3%

4.0%

7.9%

10.7%

13.3%

-1.3%

3.9%

7.6%

10.2%

12.5%

Down 25

Up 100

Up 200

Up 300

Up 400

-0.6%

2.0%

4.6%

-3.8%

2.1%

3.9%

-0.3%

1.3%

3.2%

-4.7%

2.7%

5.0%

Short End -25

Short End +100

Short End +200

Long End -100

Long End +100

Long End +200

Immediate Parallel Shock

Est. Change in NII

Yield Curve Twist

1

Est. Change in NII

Jun. 30, 2015

Mar. 31, 2015

16

Experienced

leadership team

Operate in large &

attractive Northeast

markets…

…with significant

knowledge at the local

level

Commitment to

relationship-based

banking

Breadth of products   

& services

Conservative & well-

defined underwriting

culture

Premium brand built

over 170 years

Deep focus on

expense management

Summary

A Uniquely Positioned Franchise

Appendix

18

Asset Quality

Originated Portfolio Coverage Detail as of June 30, 2015

0.90%

0.26%

0.73%

Commercial

Retail

Total

ALLLs / Loans

NPLs / Loans

ALLLs / NPLs

0.65%

0.88%

0.71%

Commercial

Retail

Total

139%

30%

103%

Commercial

Retail

Total

Note –

ALLLs: Commercial: $176 million, Retail: $19 million, Total: $195 million

19

Peer Group

Firm

Ticker

City

State

1

Associated

ASB

Green Bay

WI

2

BancorpSouth

BXS

Tupelo

MS

3

City National

CYN

Los Angeles

CA

4

Comerica

CMA

Dallas

TX

5

Commerce

CBSH

Kansas City

MO

6

Cullen/Frost

CFR

San Antonio

TX

7

East West

EWBC

Pasadena

CA

8

First Niagara

FNFG

Buffalo

NY

9

FirstMerit

FMER

Akron

OH

10

Fulton

FULT

Lancaster

PA

11

Huntington

HBAN

Columbus

OH

12

M&T

MTB

Buffalo

NY

13

New York Community

NYCB

Westbury

NY

14

Signature

SBNY

New York

NY

15

Susquehanna

SUSQ

Lititz

PA

16

Synovus

SNV

Columbus

GA

17

Valley National

VLY

Wayne

NJ

18

Webster

WBS

Waterbury

CT

19

Wintrust

WTFC

Lake Forest

IL

20

Zions

ZION

Salt Lake City

UT

For more information, investors may contact:

Andrew S. Hersom

(203) 338-4581

andrew.hersom@ peoples.com

NASDAQ: PBCT