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By NEW YORK TIMES NEWS SERVICE | May 16, 1997
NEW YORK -- Swiss Bank Corp. said yesterday that it would acquire Dillon, Read & Co., the New York investment company, for about $600 million, one day after the ING Groep of the Netherlands said its talks with Dillon had broken off.The transaction, which was negotiated in just the past few weeks, is further evidence of the determination of big European banks to build investment banking franchises in the United States.The Swiss Bank is paying handsomely for Dillon, Read, which has a storied history dating to 1832 and now specializes in advising companies on mergers and acquisitions and in raising capital through equity and debt issues.
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BUSINESS
By Hanah Cho, The Baltimore Sun | June 10, 2011
Robert G. Wilmers, M&T Bank Corp.'s chairman and chief executive officer, has been leading the Buffalo, N.Y., bank's shopping spree in Maryland. After gaining a foothold in the state with the purchase of Allfirst Financial Inc. in 2003 (the same year it bought the naming rights to the Ravens' stadium), M&T solidified its position by buying Baltimore-based Provident Bankshares Corp. five years later. Then M&T took over two failed banks in Maryland amid the financial crisis, buying Bradford Bank and K Bank in the last two years.
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BUSINESS
By Paul Adams and Paul Adams,SUN STAFF | October 11, 2003
M&T Bank Corp.'s purchase of Baltimore's Allfirst Financial Inc. in April helped lift third-quarter earnings by 42 percent, beating Wall Street estimates despite merger expenses of $12.4 million and slimmer profits on loans. Officials at Buffalo, N.Y.-based M&T said yesterday that the $3.1 billion merger cost $50 million to $60 million less than originally projected and is likely to have a negligible effect on earnings in the current quarter. The merger vaulted M&T into the top 20 U.S. banks but cost 657 jobs in Maryland.
BUSINESS
By Eileen Ambrose and Eileen Ambrose,eileen.ambrose@baltsun.com | April 9, 2009
Maryland is closer to losing its largest independent bank, one that has been a Baltimore fixture for more than 120 years. On Wednesday, shareholders of Provident Bankshares Corp. approved a merger with New York-based M&T Bank Corp. "You can't help but feel a sense of sadness about that. At the same time, we feel we have acted in the best interest of our shareholders," Provident Chairman and chief executive Gary N. Geisel said before the shareholder vote was announced. More than two-thirds of shareholders approved the buyout by M&T, which will become Maryland's second-largest bank in market share once the merger is completed.
NEWS
August 1, 2007
Geiermann selected for foundation board Annie L. Geiermann, senior vice president of the Citizens National Bank's Business Banking Group, has been appointed to the board of directors of the Columbia Foundation. The appointment was announced by Glenn L. Wilson, president of the bank. She will serve two three-year terms on the 31-member board. Geiermann replaces Joseph E. Pipetone of Citizens National, who has served on the board for five years. Citizens National, with headquarters in Laurel since 1890, is wholly-owned by Mercantile Bank Corp.
BUSINESS
By BLOOMBERG NEWS | January 5, 1999
PITTSBURGH -- Mellon Bank Corp. reorganized its senior management in its first day under new Chairman Martin McGuinn, giving its three top officers more responsibility amid the departures of Vice Chairmen Jamie Stewart Jr. and David Lovejoy.The jobs of both Stewart, 54, and Lovejoy, 50, will be divided between McGuinn, 56, and Chief Financial Officer Steve Elliott, 52.President Christopher Condron, 51, will assume responsibility for retail banking, relinquishing his post as president of the Dreyfus family of mutual funds to Steve Canter, 53, currently chief investment officer for Dreyfus.
BUSINESS
By Bloomberg Business News | February 15, 1995
NEW YORK -- U.S stocks rose yesterday, driving the Standard & Poor's 500 index to a record high amid gains in financial, beverage and semiconductor issues.Stocks advanced amid optimism that the Federal Reserve won't raise interest rates again this year. A government report showing that retail sales are rising modestly furthered a growing belief that higher interest rates have already subdued inflation."There's no reason to raise rates again," said Elizabeth Bramwell, president of Bramwell Capital Management, which manages $100 million.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | February 10, 1996
Crestar Financial Corp. said yesterday that it has reached an agreement to acquire the deposits, customer accounts and select loans of 10 Mellon Bank branches in Montgomery and Prince Georges counties.The acquisition will initially bring to Crestar about $220 million in deposits and 17,400 customer households.Crestar did not disclose the purchase price.The move is the latest effort by Richmond, Va.-based Crestar to expand its Maryland operations. The $18.3 billion-asset banking company agreed Wednesday to acquire the Ryland Funding Group, the wholesale mortgage banking operation of Columbia-based Ryland Group Inc.'s mortgage subsidiary.
BUSINESS
By Eileen Ambrose and Eileen Ambrose,eileen.ambrose@baltsun.com | April 9, 2009
Maryland is closer to losing its largest independent bank, one that has been a Baltimore fixture for more than 120 years. On Wednesday, shareholders of Provident Bankshares Corp. approved a merger with New York-based M&T Bank Corp. "You can't help but feel a sense of sadness about that. At the same time, we feel we have acted in the best interest of our shareholders," Provident Chairman and chief executive Gary N. Geisel said before the shareholder vote was announced. More than two-thirds of shareholders approved the buyout by M&T, which will become Maryland's second-largest bank in market share once the merger is completed.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | September 26, 2002
Allied Irish Banks PLC is in negotiations to sell Allfirst Financial Inc., its scandal-marred subsidiary, to M&T Bank Corp. of Buffalo, N.Y., according to published reports in Europe. The deal, which is reportedly valued at $3 billion, could be announced today, according to a source at the Baltimore-based Allfirst. Catherine Burke, an Allied Irish spokeswoman in Dublin, Ireland, declined to comment on the deal. "If and when there is an announcement we will contact you," she said. Under the terms of the deal, Allied Irish would keep a more than 20 percent stake in the combined companies, according to reports.
BUSINESS
By Laura Smitherman and Hanah Cho and Laura Smitherman and Hanah Cho,laura.smitherman@baltsun.com and hanah.cho@baltsun.com | December 20, 2008
Provident Bankshares Corp., the largest remaining Baltimore-based bank, squeezed by competition and losses, announced yesterday that it is selling itself to New York-based M&T Bank Corp., a dominant player in the Mid-Atlantic that is working to expand its foothold in a city where its name adorns the biggest sports stadium. The $401 million stock deal could lead to some layoffs among Provident's 1,660 employees as the banks merge operations and eliminate redundant operations, according to banking analysts and consultants.
BUSINESS
By JAY HANCOCK | December 20, 2008
Meet the new American lender. M&T Bank Corp., which said yesterday that it will buy Baltimore's Provident Bankshares, will typify U.S. finance in the next few years. Big. Based somewhere else. But something that looks like an old-fashioned bank, with branch offices and lollipops next to the teller. FDIC-insured. No investment banking division. No Masters of the Universe deal makers. No 30 dollars borrowed for every one dollar of capital. A lineup that recently would have seemed terribly dull for consumers as well as shareholders now looks very attractive.
BUSINESS
September 5, 2008
M&T securities acquires Pikesville brokerage M&T Securities Inc., the brokerage and insurance arm of M&T Bank Corp., said yesterday that it has acquired Pikesville-based brokerage firm Peremel & Co. from PNC Investments LLC. M&T will operate the business as a standalone investment center under the M&T name at its current location on Reisterstown Road. The brokerage, which has eight employees, has 6,000 customers and $700 million in assets, M&T said. M&T Bank Corp. is a bank holding company for banking subsidiary M&T Bank, which operates branches in seven states, including Maryland, and Washington.
NEWS
August 1, 2007
Geiermann selected for foundation board Annie L. Geiermann, senior vice president of the Citizens National Bank's Business Banking Group, has been appointed to the board of directors of the Columbia Foundation. The appointment was announced by Glenn L. Wilson, president of the bank. She will serve two three-year terms on the 31-member board. Geiermann replaces Joseph E. Pipetone of Citizens National, who has served on the board for five years. Citizens National, with headquarters in Laurel since 1890, is wholly-owned by Mercantile Bank Corp.
BUSINESS
By Laura Smitherman and Laura Smitherman,Sun reporter | November 23, 2006
M&T Bank Corp. chief executive Robert E. Sadler Jr. announced yesterday that he will retire from his post at the end of the year, ushering in a re-ordering of executives at the Buffalo, N.Y.-based bank, which ranks as the third-largest in Maryland by market share. Sadler, who characterized his decision as "very personal" in a statement, will remain as a vice chairman at the bank. Chairman Robert G. Wilmers, who stepped down as chief executive officer to make way for Sadler less than 18 months ago, will return to that position.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | October 13, 2004
M&T Bank Corp.'s profit rose 19 percent in the third quarter, driven by an increase in credit-related fees and less money set aside for problem loans, the company said yesterday. The Buffalo, N.Y., banking company, which acquired Baltimore's Allfirst Financial Inc. in April last year, made $186 million in the quarter that ended Sept. 30, compared with $156 million in last year's third quarter. Diluted earnings per share rose 22 percent to $1.56, compared with $1.28 in the quarter a year ago, the company said.
BUSINESS
October 17, 2002
In the Region Whiting Turner wins African-American museum contract The state Board of Public Works approved yesterday a $21.3 million construction contract for the Reginald F. Lewis Maryland Museum of African American History and Culture, paving the way for the project to break ground by December. Whiting Turner Contracting Co. was the sole bidder for the 82,000-square-foot museum, according to Gov. Parris N. Glendening's office. The museum, scheduled to open in 2004 will be named after Reginald F. Lewis, the late Baltimore native and philanthropist whose family has donated $5 million to the project.
BUSINESS
By Paul Adams and Paul Adams,SUN STAFF | October 11, 2003
M&T Bank Corp.'s purchase of Baltimore's Allfirst Financial Inc. in April helped lift third-quarter earnings by 42 percent, beating Wall Street estimates despite merger expenses of $12.4 million and slimmer profits on loans. Officials at Buffalo, N.Y.-based M&T said yesterday that the $3.1 billion merger cost $50 million to $60 million less than originally projected and is likely to have a negligible effect on earnings in the current quarter. The merger vaulted M&T into the top 20 U.S. banks but cost 657 jobs in Maryland.
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