People’s United Financial, the holding company for People’s United Bank, completed its acquisition of BSB Bancorp, the holding company of Belmont Savings Bank, in an all-stock transaction.

“We are extremely pleased to welcome the customers and employees of Belmont Savings Bank to People’s United,” said Jack Barnes, chairman and CEO of People’s United Financial. “People’s United and Belmont have many shared values, including a client-centric approach, a spirit of community giving, and similar workplace cultures. We look forward to enhancing the experience of Belmont customers through our suite of specialized products and services, and access to our personalized technology and expert bankers.”