M&T Bank Corp at BancAnalysts Association of Boston Conference Transcript
Good morning. I'm here to introduce M&T, a $22 billion market cap, $125 billion asset bank that is headquartered in Buffalo and operates primarily in the Northeast and Mid-Atlantic regions.
Interestingly, M&T is one of the few successful companies in America to remain successful after putting its name on a sports stadium, as it did in Baltimore in 2003 with the American football Ravens.
M&T, at the time called Manufacturers and Traders Bank, was founded in 1856 by 2 gentlemen, one an iron maker and the other a tannery tycoon, for the specific purpose of making credit available to the local manufacturing community. The catalyst to M&T's racing to a top 20 position within American banking was in 1980 when Bob Wilmers started accumulating shares in the bank and became CEO 3 years later, a tenure that lasted 34 years. Since 1980, M&T has made a number of shrewd acquisitions and practiced sound banking, i.e., avoiding making dumb loans. M&T was one of only 2 S&P 500 banks that did not cut its cash dividend during the financial crisis.
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