Stock report · Delisted · NYSE
Suffolk Bancorp (SUBK)
Delisted Delisted – merger · last traded March 31, 2017
SUBK no longer trades. Suffolk Bancorp merged into People's United Financial on April 1, 2017, in an all-stock deal that gave holders 2.225 People's United shares for each Suffolk share, about $402 million in total. People's United itself was later acquired by M&T Bank in 2022.
See the MTB stock page for the successor (MTB).
Delisting details
- Exchange (former)
- NYSE
- Status
- Delisted – merger
- Last trading day
- March 31, 2017
- Delisted
- April 3, 2017
- Reason
- Merged into People's United Financial; 2.225 PBCT shares per Suffolk share, about $402 million
- Consideration
- 2.225 shares of People's United Financial common stock per share
- Successor
- People's United Financial (later acquired by M&T Bank Corporation, NYSE: MTB)
- Sector
- Financial
- Industry
- Regional Banks
- Headquarters
- Riverhead, New York
About Suffolk Bancorp
Suffolk Bancorp was the holding company for The Suffolk County National Bank, a community bank on the eastern end of Long Island, New York. The bank ran about 30 branches across Suffolk County and made commercial, real estate, and consumer loans to local businesses and households. It was known for its large base of low-cost deposits and its close ties to the North Fork and Hamptons communities. The company was based in Riverhead.
The Suffolk County National Bank opened in 1890, and Suffolk Bancorp was formed in 1985 as its holding company. For decades it was a steady, conservative lender with strong profits. In 2011 it hit trouble when problem commercial loans and accounting errors forced it to restate results and file reports late, and regulators placed the bank under a formal agreement.
New management led by Howard Bluver took over in 2011 and cleaned up the loan book. It cut costs, closed some branches, and brought the bank back to steady profits by 2013. The regulatory agreement was lifted, dividends resumed, and the company moved its stock listing to the New York Stock Exchange.
In June 2016 People's United Financial of Bridgeport, Connecticut, agreed to buy Suffolk in an all-stock deal valued at about $402 million. Shareholders received 2.225 People's United shares for each Suffolk share, and the merger closed on April 1, 2017. Suffolk County National Bank's branches became People's United branches. People's United was itself acquired by M&T Bank Corporation in April 2022.
Suffolk Bancorp FAQ
What happened to Suffolk Bancorp stock?
Suffolk Bancorp merged into People's United Financial on April 1, 2017, in an all-stock deal that gave holders 2.225 People's United shares for each Suffolk share, about $402 million in total. People's United itself was later acquired by M&T Bank in 2022.
Can I still buy SUBK stock?
No. SUBK is no longer listed on NYSE or any other U.S. exchange.
What did Suffolk Bancorp shareholders receive?
Each Suffolk share was exchanged for 2.225 shares of People's United Financial common stock. People's United later merged into M&T Bank.
SUBK no longer trades, so there is no live quote or chart. The information on this page is for reference only and is not investment advice; see our disclaimer.