M&T Bank (abbr. Manufacturers and Traders Trust Company), founded in 1856, is one of the twenty largest U.S. commercial banks. It is a subsidiary of M&T Bank Corporation. The bank’s headquarters are situated in Buffalo, New York, at office tower One M&T Plaza.
M&T Bank offers a variety of financial solutions suitable for personal, commercial and business banking. Its products and services include consumer, investment and corporate banking, credit cards, finance and insurance, wealth management, mortgages, private equity, etc.
Moreover, one can use M&T Bank’s telephone, mobile and internet banking services, which are user friendly, secure and fast. So it is possible to bank from office, home or any other place.
Landmarks in the History of M&T Bank
M&T Bank Today
- 1856 – On the 24th of March, Bronson Case Rumsey, Pascal Paoli Pratt and other stockholders found Manufacturers and Traders Bank in Buffalo. Henry Martin becomes the first president of M&T Bank and holds his position for the next twenty nine years. The bank’s capital is 0,000.
- 1902 - M&T Bank increases its capital to one million dollars. On March 31, it becomes a national bank. In April, M&T Bank acquires Merchant Bank of Buffalo.
- 1929 – Manufacturers and Traders Trust Company survives several stock market crashes, although it loses about million in deposits.
- 1945 - M&T Bank purchases the First National Bank of Kenmore, Citizens National Bank of Lancaster, and American Bank of Lackawanna.
- 1946 – 1967 – The company acquires fifteen banking institutions and turns them into M&T Bank locations.
- 1983 – Robert Wilmers is appointed CEO and chairman of First Empire State Corp. and M&T Bank, its major banking subsidiary.
- 1984 – The bank operates about sixty M&T Bank locations and owns billion in assets.
- 1991 – Warren Buffet buys million of preference shares through Berkshire Hathaway, M&T Bank’s subsidiary. On 1996, the preferred stock becomes common stock. Now Buffet has about six percent of the bank’s share capital.
- 2000 - M&T Bank Corporation acquires Keystone Financial Services Incorporated and expands its activity to Northern Maryland, West Virginia and Central Maryland.
- 2003 - M&T Bank purchases Allfist Financial Incorporated thus increasing its assets by more than billion.
- 2006 - M&T Bank acquires from Citibank twenty one branches, located in Upstate New York.
- 2007 - Partners Trust Financial Group merges with M&T Bank. It adds the bank over thirty branches.
- 2009 - M&T Bank purchases Provident Bankshares with the capital of about .5 billion and departments in Washington, D.C., Virginia and Maryland. In the same year it buys Bradford Bank, headquartered in Baltimore.
- 2010 – The company opens the first M&T Bank location in Toronto, Canada. It becomes the first bank’s international office.
- 2011 – Wilmington Trust Corporation merges with M&T Bank Corporation.
- 2012 - M&T Bank is about to acquire Hudson City Bancorp.
On June, 2012, M&T Bank has approximately billion in assets. It owns more than 750 M&T Bank locations
and over two thousand automated teller machines in Delaware, Florida, Maryland, New Jersey, New York, Pennsylvania, Washington, D.C., Virginia and West Virginia. About 15 500 regular employees work in the bank’s departments.
The bank remains profitable since 1970s. It was able not to lower the dividend during the last financial crisis.
M&T Bank Corporation held the 496th position on Fortune 500 list of companies in 2007, but later dropped to the 535th place.
M&T Bank takes part in Troubled Asset Relief Program conducted by the Government of the United States of America.
The bank is also one of the most charitable American companies.
If you need to find the nearest M&T Bank locations, like a branch, a commercial center, a mortgage office or an automatic teller machine, you can use M&T Bank online locator. Just enter the ZIP code or your address, and you will get the necessary information.