People's of Conn. Takes Second Step.(Company overview)

Ending months of market speculation, People's Bank of Bridgeport, Conn., said it plans to become a fully public company -- a move analysts said could raise as much as $3.4 billion.

People's said Wednesday that it plans to convert to a public-stock savings and loan company. It took its first step toward doing so 18 years ago when it created People's Mutual Holdings, the mutual holding company that now owns 58% of the $11 billion-asset bank's shares.

Analysts have speculated about People's intentions since July. The chatter intensified two weeks ago when People's abruptly pulled out of two conferences it was supposed to attend this month, fueling a rise in its …