Peoples United Financial, Inc. (Exact name of registrant as - PDF document

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) July 24, 2020 (July 23, 2020) People’s United Financial, Inc. (Exact name of registrant as specified in its charter) Delaware 001-33326 20-8447891 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 850 Main Street, Bridgeport, CT 06604 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code (203) 338-7171 Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Trading Name of each exchange Title of each class Symbol on which registered Common Stock, $0.01 par value per share PBCT NASDAQ Global Select Market Fixed-to-Floating Rate Non-Cumulative PBCTP NASDAQ Global Select Market Perpetual Preferred Stock, Series A, $0.01 par value per share Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition. On July 23, 2020, People’s United Financial, Inc. (the “Company”) issued a press release announcing its results of operations for the three- and six-month periods ended June 30, 2020. A copy of that press release is being furnished herewith as Exhibit 99.1. The information contained in and accompanying this Form 8-K with respect to Item 2.02 (including Exhibit 99.1 hereto) is being furnished to, and not filed with, the Securities and Exchange Commission in accordance with General Instruction B.2 to Form 8-K. Item 7.01. Regulation FD Disclosure. The Company hereby furnishes the Investor Presentation attached hereto as Exhibit 99.2. The information contained in and accompanying this Form 8-K with respect to Item 7.01 (including Exhibit 99.2 hereto) is being furnished to, and not filed with, the Securities and Exchange Commission in accordance with General Instruction B.2 to Form 8-K. Item 9.01. Financial Statements and Exhibits (d) The following Exhibits are submitted herewith. Exhibit No. Description 99.1 Earnings Press Release dated July 23, 2020 99.2 Investor Presentation dated July 23, 2020 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL

EXHIBIT INDEX Exhibit No. Description Page 99.1 Earnings Press Release dated July 23, 2020 99.1-1 99.2 Investor Presentation dated July 23, 2020 99.2-1 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. People’s United Financial, Inc. (Registrant) /s/ Andrew S. Hersom Date: July 24, 2020 By: (Signature) Name: Andrew S. Hersom Title: Senior Vice President, Investor Relations

Exhibit 99.1 People’s United Financial Reports Second Quarter Net Income of $89.9 Million, or $0.21 per Common Share Operating Earnings of $0.24 per Common Share • Increased pre-provision net revenue 9 percent from a year ago to $191.2 million and 15 percent on an operating basis to $209.7 million. • Sustained excellent asset quality as evidenced by net loan charge-offs to average total loans of 8 basis points. Provision of $80.8 million primarily reflects the impact of COVID-19 and further strengthens the allowance for credit losses to total loans by 14 basis points to 0.91 percent. • Maintained a strong funding and liquidity profile, which benefited from period-end deposit balances growing $5.2 billion or 12 percent linked- quarter. Funded nearly 18,000 Paycheck Protection Program (PPP) loans totaling over $2.6 billion as of July 15 th , of which approximately 80 percent were • small business loans under $150,000 and supported the paychecks of more than 260,000 employees across the Northeast. BRIDGEPORT, CT., July 23, 2020 – People’s United Financial, Inc. (NASDAQ: PBCT) today reported results for the second quarter 2020. These results along with comparison periods are summarized below: ($ in millions, except per common share data) Three Months Ended Jun. 30, 2020 Mar. 31, 2020 Jun. 30, 2019 Net income $ 89.9 $ 130.4 $ 133.2 Net income available to common shareholders 86.4 126.9 129.7 Per common share 0.21 0.30 0.33 Operating earnings 1 101.0 141.1 134.8 Per common share 0.24 0.33 0.34 Net interest income $ 405.6 $ 396.0 $ 348.1 Net interest margin 3.05% 3.12% 3.12% Non-interest income 89.6 123.8 106.3 Non-interest expense $ 304.0 $ 320.1 $ 278.4 Operating non-interest expense 1 285.5 302.2 271.9 Efficiency ratio 53.5% 54.0% 55.8% Average balances Loans $ 45,153 $ 43,460 $ 38,229 Deposits 48,447 44,163 39,211 Period-end balances Loans 45,452 44,284 38,557 Deposits 49,934 44,741 39,467 1 See Non-GAAP Financial Measures and Reconciliation to GAAP beginning on page 16. “Our performance in the second quarter is indicative of the strength and resilience of People’s United,” said Jack Barnes, Chairman and Chief Executive Officer. “Our employees continue to display their extensive know-how to deliver financial solutions despite the many challenges presented by COVID-19. From our frontline personnel providing exceptional service in a socially distant environment, to our robotic process automation team developing bots to expedite the processing of PPP loans, the adaptability of our employees has been remarkable. Consistent with our history of providing support in periods of need, we are committed to helping customers and communities