M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management. It offers a range of credit products and banking services, such as commercial lending and leasing, letters of credits, commercial real estate loans, and credit facilities secured by various commercial real estate to middle-market and large commercial customers. The company also provides customers deposit products, including demand, savings and time accounts, and other services; automobile and recreational finance loans, home equity loans and lines of credit, credit cards, and other loan products, as well as residential mortgage and real estate loans; business loans, cash management, payroll, and direct deposit services to consumers and small businesses through branch network, telephone banking, internet banking, and automated teller machines. In addition, it offers trustee, agency, investment management, security brokerage, and administrative services; personal trust, planning, fiduciary, asset management, family office, and other services; and investment products, including mutual funds and annuities, and other services for corporations and institutions, investment bankers, corporate tax, finance and legal executives, and other institutional clients. The company was founded in 1856 and is headquartered in Buffalo, New York.
Companies with rank 7 or higher will be unlikely to fall into distressed situations. Companies with rank of 3 or less are likely in financial distress. M&T Bank has the Financial Strength Rank of 4.
Connecticut Attorney General William Tong has been a frequent critic of M&T Bank's customer service since the company completed in April 2022 its $8.3 billion acquisition of People's United Bank.
Based on short-term price targets offered by 21 analysts, the average price target for M&T Bank Corporation comes to $178.13. The forecasts range from a low of $133.65 to a high of $208.00. The average price target represents an increase of 9.76% from the last closing price of $162.29.
While M&T's CD may offer a decent APY for some terms, its savings accounts earn very little interest. Look elsewhere if earning a high yield on your savings is a priority for you. M&T Bank has a nice variety of accounts, but they aren't always competitive in terms of rates and fees.
For 14 consecutive years, M&T has ranked among the top 10 U.S. Small Business Administration (SBA) lenders. During the SBA's 2022 fiscal year, which ended Sept. 30, 2022 , M&T provided 1,440 loans for $203.8 million , ranking the bank the sixth-largest SBA lender in the country.
M&T employs multiple layers of security and defense including: Network and location perimeter protection. Real time continuous monitoring and detection of security incidents. Vulnerability and penetration testing.
The bottom line: M&T Bank is a solid option if you live near a branch and prefer in-person banking to online banking. It also offers CDs with fixed and variable rates. But if you're open digital banking, the best online banks pay higher rates.
The credit ratings downgrade reflects M&T's weakening asset quality metrics, which has led to the current elevated levels of nonperforming loans (NPLs) and criticized loans.
M&T Bank reorganized under a bank holding company in 1969 called First Empire State Corporation. The name was changed in 1998 to M&T Bank Corporation, whose common stock is listed on the New York Stock Exchange and trades under the symbol "MTB."
Filed: August 25, 2023 ◆§ 1:23-cv-00892. A class action claims M&T Bank's failure to safeguard consumers' personal information resulted in a data breach announced by the bank in August 2023.
M&T Bank traces its origins to the founding of Manufacturers and Traders Bank in Buffalo, New York. As a result of mergers, acquisitions and name changes, M&T Bank Corporation's principal bank is now known as Manufacturers and Traders Trust Company, or M&T Bank.
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