M&T BANK CORP

M&T Bank Corp, or Manufacturers and Traders Trust, is a bank holding company that provides commercial and retail banking services through its subsidiaries. The company is headquartered in Buffalo and can trace its history back to the Manufacturers and Traders Trust Company which was founded in 1856 and would go through many mergers, acquisitions, and name changes. The bank was organized under a banking holding company called First Empire State Corporation in 1969. M&T Bank Corp has, in relatively recent years, focused on acquisitions to facilitate further growth, acquiring 20 companies in the period from 1987 to 2009 alone. The company has been profitable every quarter since the 1970s and was one of the only two banks in the S&P 500 that did not lower its dividend. The bank’s name was changed to its current M&T Bank Corp in 1998 and is listed as MTB on the New York Stock Exchange, acquiring companies such as Wilmington Trust and Hudson City Bancorp in its recent years. M&T Bank Corp today offers its services through almost 700 banking offices, business banking centers, telephone and internet banking, and automated teller machines with offices in the United States, Canada, and Cayman Islands. The company’s broad line of services include trust and wealth management, fiduciary, custody, securities brokerage, investment advisory, accident and health insurances, and credit life services. M&T Bank Corp operates through various business segments including Business Banking, offering financial services to small businesses and professionals; Commercial Banking, offering various cash management services to middle market and large commercial clients; Commercial Real Estate, offering credit and deposit services; Discretionary Portfolio, providing various assets, brokered deposits, foreign services, and the Cayman Islands branch deposits; Residential Mortgage, originating residential real estate loans; and Retail Banking, offering a variety of account, loan, and credit services. The company currently holds over $134 billion in total assets under management, making it the 17th largest commercial bank holding company in the United States, and has over 15,000 employees. Its mutual fund offerings were merged with Wilmington Trust to create the Wilmington family of funds including Rock Maple Alternatives, Short Duration Government Bond, Prime Money Market, and Allocation Aggressive funds.