Open main menu
Home
Random
Recent changes
Special pages
Community portal
Preferences
About Wikipedia
Disclaimers
Incubator escapee wiki
Search
User menu
Talk
Dark mode
Contributions
Create account
Log in
Editing
M&T Bank
(section)
Warning:
You are not logged in. Your IP address will be publicly visible if you make any edits. If you
log in
or
create an account
, your edits will be attributed to your username, along with other benefits.
Anti-spam check. Do
not
fill this in!
==Mergers and acquisitions== Between 1945 and 1966, M&T acquired 18 local banking institutions.<ref name="mtb2006"/> Between 1987 and 2022, M&T Bank acquired 24 financial institutions, as follows:<ref>{{cite web | title=Investor Relations: Acquisitions | url=http://ir.mandtbank.com/acquisitions.cfm| publisher=M&T Bank}}</ref> ===1920s=== * December 1925: merged with [[Fidelity Trust Building|Fidelity Trust Company]] under the name [[Manufacturers and Traders Trust Company]]<ref name="mtb2006"/> * May 1927: acquired the [[People's Bank of Buffalo]]<ref name="mtb2006"/> ===1940s=== * June 1945: acquired the First National Bank of [[Kenmore, New York|Kenmore]]<ref name="mtb2006"/> * October 1945: acquired the Citizens National Bank of [[Lancaster, New York|Lancaster]]<ref name="mtb2006"/> * December 1945: acquired the American Bank of [[Lackawanna, New York|Lackawanna]]<ref name="mtb2006"/> ===1980s=== * December 1987: acquired East New York Savings, which operated 15 branches in metropolitan [[New York City]]<ref name="mtb2006"/> ===1990s=== * January 1990: acquired $486 million in deposits and 11 offices in Rochester from Monroe Savings Bank of [[Rochester, New York]]<ref name="mtb2006"/> * September 1990: acquired $1.3 billion in deposits and 13 offices (9 in Buffalo and 4 in Rochester) of Empire of America Savings Bank of Buffalo<ref name="mtb2006"/> * May 1991: acquired $2.1 billion in deposits and 14 branches of [[Buffalo Savings Bank|Goldome Bank]] of Buffalo<ref name="mtb2006"/> * July 1992: acquired $1.1 billion asset Central Trust of [[Rochester, New York]], and the $300 million asset Endicott Trust of [[Binghamton, New York]].<ref>{{cite news | url=http://buffalonews.com/1992/02/23/mt-buys-central-trust-endicott-bank-fast-growing-buffalo-bank-pays-111-million-for-two-midlantic-subsidiaries/ | title=M&T Buys Central Trust, Endicott Bank Fast-Growing Buffalo Bank Pays $111 Million for Two MidAtlantic Subsidiaries | work=[[The Buffalo News]] | date=February 23, 1992 |url-access=subscription }}</ref> * December 1994: acquired $146 million in deposits from the [[Hudson Valley]] branches of [[Chemical Bank]]; and $470 million in assets and $339 million in deposits from Ithaca Bancorp of [[Ithaca, New York]]. * July 1995: acquired Hudson Valley branches of [[Chase (bank)|Chase Manhattan]] * January 1997: acquired Green Point Bank branches of [[Westchester, New York]] * June 1999: acquired First National Bank of Rochester * April 1998: acquired OnBank of [[Syracuse, New York]]<ref>{{cite news | url=https://www.bizjournals.com/albany/stories/1997/11/03/story5.html | title=M&T parent adopts bank with local branches | first=Barbara | last=Pinckney | work=[[American City Business Journals]] | date=November 3, 1997}}</ref> * September 1999: acquired 29 Chase Bank Branches in Buffalo, [[Jamestown, New York|Jamestown]], and [[Binghamton, New York|Binghamton]] New York.<ref>{{cite news | url=https://www.bizjournals.com/buffalo/stories/1999/05/31/daily9.html| title=M&T Bank To Acquire 29 Chase Branches | work=[[American City Business Journals]] | date=June 4, 1999}}</ref> ===2000s=== * October 2000: acquired Keystone Financial of Central Pennsylvania<ref>{{cite news | title=M&T Bank to Acquire Keystone Financial | url=https://www.latimes.com/archives/la-xpm-2000-may-18-fi-33634-story.html | work=[[Los Angeles Times]] | agency=[[Bloomberg News]] | date=May 18, 2000}}</ref> * February 2001: acquired Premier Nation Bancorp of [[Newburgh, New York|Newburgh]]<ref>{{cite news| title=Company News: M & T Bank in Deal to Acquire Premier National Bancorp | work=[[The New York Times]] | url=https://www.nytimes.com/2000/07/11/business/company-news-m-t-bank-in-deal-to-acquire-premier-national-bancorp.html| agency=[[Associated Press]] | date=July 11, 2000}}</ref> * April 2003: acquired Allfirst Bank of [[Baltimore]], a subsidiary of [[Allied Irish Banks]] of [[Ireland]], in exchange for 26.7 million shares of M&T and $886 million in cash.<ref>{{cite press release | url=http://www.prnewswire.com/news-releases/mt-bank-corporation-consummates-acquisition-of-allfirst-financial-inc-70775897.html | title=M&T Bank Corporation Consummates Acquisition of Allfirst Financial Inc. | publisher=[[PR Newswire]] | date=April 1, 2003 }}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }}</ref><ref>{{cite news | url=https://www.baltimoresun.com/2003/04/02/allfirsts-sale-to-m-bank-is-completed/ | archive-url=https://archive.today/20150629041356/http://articles.baltimoresun.com/2003-04-02/business/0304020117_1_mt-bank-bank-branches-property-of-mt | url-status=live | archive-date=June 29, 2015 | title=Allfirst's sale to M&T Bank is completed | first=William | last=Patalon III | work=[[The Baltimore Sun]]| date=April 2, 2003}}</ref> At the direction of Irish government financial regulators, AIB sold its 22% ownership interest in M&T in 2010.<ref>{{cite news| url=https://dealbook.nytimes.com/2010/10/06/allied-irish-selling-2-2-billion-mt-stake/ | title=Allied Irish Selling $2.2 Billion Stake in M&T | work=[[The New York Times]] | date=October 6, 2010}}</ref> * June 2006: acquired 21 [[Citibank]] branches in Buffalo and [[Rochester, New York|Rochester]]<ref>{{cite news | url=https://www.washingtonpost.com/wp-dyn/content/article/2008/12/19/AR2008121901016.html | title=M&T Agrees to Buy Provident Bank | first=Binyamin | last=Appelbaum | newspaper=[[The Washington Post]] | date=December 20, 2008}}</ref> * December 2007: acquired Partners Trust Financial Group, including 33 branches in [[upstate New York]], for $555 million.<ref>{{cite press release | url=http://www.prnewswire.com/news-releases/mt-completes-partners-trust-acquisition-58521222.html | title=M&T Completes Partners Trust Acquisition | publisher=[[PR Newswire]] | date=December 3, 2007 | access-date=May 21, 2017 | archive-url=https://web.archive.org/web/20150402044210/http://www.prnewswire.com/news-releases/mt-completes-partners-trust-acquisition-58521222.html | archive-date=April 2, 2015 | url-status=dead }}</ref> * December 2007: acquired 12 [[First Horizon National Corporation]] branches in the greater [[Washington, D.C.]], and Baltimore markets.<ref>{{cite news| title=M&T buys First Horizon branches | url=https://rbj.net/2007/09/25/mt-buys-first-horizon-branches/| last=Adams | first=Thomas | work=[[American City Business Journals]] | date=September 25, 2007}}</ref> * May 2009: acquired [[Provident Bank of Maryland]] in a stock transaction.<ref>{{cite press release | url=http://www.prnewswire.com/news-releases/mt-bank-corporation-completes-acquisition-of-provident-bankshares-corporation-61967512.html | title=M&T Bank Corporation Completes Acquisition of Provident Bankshares Corporation | publisher=[[PR Newswire]] | date=May 26, 2009 }}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> * August 2009: The [[Federal Deposit Insurance Corporation]] (FDIC) seized Bradford Bank and sold all its deposits and most assets to M&T.<ref>{{cite press release | url=https://www.fdic.gov/news/news/press/2009/pr09155.html | title=Manufacturers and Traders Trust Company, Buffalo, New York, Assumes All of the Deposits of Bradford Bank, Baltimore, Maryland | publisher=[[Federal Deposit Insurance Corporation]] | date=August 28, 2009}}</ref> M&T and the FDIC agreed to share future losses on $338 million worth of Bradford's assets.<ref>{{cite news| url=https://www.bizjournals.com/albany/stories/2009/08/31/daily3.html| title=Feds seize Bradford Bank; M&T to buy assets | first1=Gary| last1=Haber | first2=Joanna | last2=Sullivan | work=[[American City Business Journals]] | date=August 31, 2009}}</ref> ===2010s=== * November 2010: acquired K Bank of Baltimore, Maryland * May 2011: acquired [[Wilmington Trust]] for $351 million in stock.<ref>{{cite news | url=https://www.bizjournals.com/buffalo/news/2010/11/01/mt-to-acquire-delaware-bank.html | title=M&T to acquire Delaware bank | work=[[American City Business Journals]] | date=November 1, 2010}}</ref> * August 2012: M&T announced the acquisition of [[Hudson City Bancorp]] for $3.7 billion. The bank had $25 billion in deposits and $28 billion in loans and 135 brick-and-mortar branch locations including 97 in New Jersey.<ref>{{cite news | url=https://dealbook.nytimes.com/2012/08/27/mt-bank-to-buy-hudson-city-bancorp-for-3-7-billion | title=M&T Bank to Buy Hudson City Bancorp for $3.7 Billion | work=[[The New York Times]] | date=August 27, 2012}}</ref> The acquisition was delayed for 3 years due to a money laundering case involving an M&T branch and the acquisition closed on November 2, 2015.<ref>{{cite press release | url=http://www.prnewswire.com/news-releases/mt-bank-corporation-completes-acquisition-of-hudson-city-bancorp-inc-300170124.html | title=M&T Bank Corporation Completes Acquisition of Hudson City Bancorp, Inc. | publisher=[[PR Newswire]] | date=November 2, 2015}}</ref><ref>{{cite news| url=https://www.wsj.com/articles/m-t-bank-completes-acquisition-of-hudson-city-after-3-year-delay-1446470410 | title=M&T Bank Completes Acquisition of Hudson City After 3-Year Delay | first=Rachel Louise | last=Ensign | work=[[The Wall Street Journal]] | date=November 2, 2015 |url-access=subscription }}</ref><ref>{{cite news | url=https://www.wsj.com/articles/SB10001424127887324520904578553381911952960 | title=Fed Cites M&T for Anti-Money Laundering Problems | first=Michael R. | last=Crittenden | work=[[The Wall Street Journal]]| date=June 18, 2013 |url-access=subscription }}</ref><ref>{{cite news| url=http://www.bizjournals.com/buffalo/news/2014/06/18/drug-money-laundering-probe-costs-m-t-560.html?page=all | title=Drug money-laundering probe costs M&T $560K | first=Allissa | last=Kline | work=[[American City Business Journals]] | date=June 18, 2014}}</ref> ===2020s=== *April 2022: acquired [[People's United Bank]] in an all-stock transaction valued at approximately $8.3 billion.<ref>{{cite news | url=https://reorg.com/pbct-mtb-mt-bank-peoples-united-to-form-diversified-banking-franchise-in-7-6b-all-stock-transaction/ | title=PBCT/MTB: M&T Bank, People's United to Form Diversified Banking Franchise in $7.6B All-Stock Transaction | work=[[Reorg]] | date=February 22, 2021}}</ref><ref>{{cite news | url=https://www.wsj.com/articles/m-t-bank-nears-all-stock-deal-for-peoples-united-11613956815 | title=M&T Bank to Buy People's United for $7.6 billion | work=[[WSJ]] | date=February 22, 2021}}</ref><ref>{{cite news | url=https://buffalonews.com/business/local/m-t-ready-to-capitalize-on-peoples-deal/article_89b8f17e-9f1f-11ec-9341-b30675891876.amp.html | title=M&T ready to capitalize on People's deal | work=The Buffalo News | date=March 11, 2022}}</ref><ref>{{Cite web|url=https://vermontbiz.com/news/2022/april/04/mt-bank-completes-83-billion-acquisition-peoples-united|title=M&T Bank completes $8.3 billion acquisition of People's United|date=4 April 2022|website=Vermont Biz}}</ref> The acquisition was completed on April 2, 2022.<ref>{{cite press release | url=https://newsroom.mtb.com/2022-04-02-M-T-Bank-Corporation-Completes-Acquisition-of-Peoples-United-Financial,-Inc | title=M&T Bank Corporation Completes Acquisition of People's United Financial, Inc. | publisher=M&T Bank | date=April 2, 2022}}</ref>
Edit summary
(Briefly describe your changes)
By publishing changes, you agree to the
Terms of Use
, and you irrevocably agree to release your contribution under the
CC BY-SA 4.0 License
and the
GFDL
. You agree that a hyperlink or URL is sufficient attribution under the Creative Commons license.
Cancel
Editing help
(opens in new window)