NEWS
By Jay Hancock | October 13, 2010
Just when you thought the nameplate on your bank and football stadium would stop changing, the Maryland bank with the second-largest number of deposits became the subject of merger speculation, big stock swings and international headlines. M&T Bank Corp. was in combination talks until recently with Banco Santander SA, a global giant based in Spain, according to news reports. Last week, instead of getting a merger, M&T stock owners watched the bank's biggest shareholder dump its entire stake, a turnabout that caused M&T shares to fall below $77 after trading above $90 last month.
NEWS
By Steve Kilar, The Baltimore Sun | January 3, 2012
A former assistant vice president of M&T Bank pleaded guilty in federal court Tuesday to being involved with a scheme to defraud one of the bank's customers and a federal institution, prosecutors said. Baltimore resident Rosamaria T. Somarriba, 67, admitted to transferring funds out of the accounts of one of the bank's corporate customers for her own benefit, according to a statement Tuesday from the U.S. Attorney's Office for the District of Maryland. Some of the funds she stole belonged to the Export-Import Bank of the United States.
BUSINESS
By Hanah Cho, The Baltimore Sun | May 12, 2011
M&T Bank Corp. is expected to close Monday on the purchase of Wilmington Trust Corp. after receiving all regulatory approvals required under the deal, M&T announced Thursday. Delaware-based Wilmington Trust, struggling with bad real estate loans, agreed in November to sell itself to Buffalo, N.Y.-based M&T for $351 million. Wilmington Trust Corp. does not operate retail branches in Maryland. It has wealth management and corporate client offices in Baltimore and Bel Air. M&T Bank officials have said they will retain the 35 employees in those two offices.
BUSINESS
By Baltimore Sun | April 26, 2011
The Federal Reserve Board has approved M&T Bank Corp.'s application to acquire Wilmington Trust Corp. The Delaware-based Wilmington Trust Corp., struggling with bad real estate loans, agreed in November to sell itself to Buffalo, N.Y.-based M&T for $351 million. A Baltimore-based unit of the corporation, Wilmington Trust Federal Savings Bank, entered into an agreement with federal regulators to boost capital levels and reduce bad loans on its books in February. The savings bank provides commercial banking and wealth management.
NEWS
By Paul West, The Baltimore Sun | November 6, 2010
It was business as anything but usual Saturday morning at Baltimore-area branches of K Bank, the latest Maryland financial institution to fail this year. Hours earlier, K Bank had been shuttered by regulators, then taken over by M&T Bank. The new owners deployed its employees to the seven branches to reassure customers they had nothing to worry about. Not all were convinced. Several of the c ustomers waiting to be helped at the branch on Baltimore National Pike in Ellicott City planned to close their accounts.
BUSINESS
By Hanah Cho, The Baltimore Sun | March 28, 2011
Baltimore-based Wilmington Trust Federal Savings Bank, which provides commercial banking and wealth management, has entered into an agreement with federal regulators to boost capital levels and reduce bad loans on its books. The agreement, reached last month, comes as the bank's parent, Wilmington Trust Corp., is being acquired by M&T Bank Corp., but bank officials and analysts said the regulatory scrutiny is not expected to affect the merger. The Office of Thrift Supervision found that Wilmington Trust Federal Savings "has engaged in unsafe or unsound practices.