M&T Bank Marks its 160th Anniversary with Headquarters Celebration
The festivities began at noon with an outdoor concert, a picnic-themed lunch for M&T employees, recognizing their hard work and contributions to the company’s success, and a birthday cake served to customers, employees and the community. A highlight of the event included attendance by Buffalo Mayor Byron Brown, who proclaimed it ‘M&T Bank Day’ throughout the City of Buffalo, and Erie County Executive Mark C. Poloncarz, who proclaimed it “M&T Bank Day” throughout Erie County.
“This remarkable milestone is a true testament to M&T and its long-standing commitment to innovation, opportunity and community, as well as its years of great work in our city,” said Brown. “As a longtime local employer, M&T is a vital asset and has impacted so many lives by providing financing to purchase homes, start small businesses or retain jobs at existing businesses. As a city, we’re grateful to M&T and I look forward to our continued partnership on effective initiatives and programs that further enhance the quality of life in our city for hundreds of years to come.”
“Congratulations to M&T Bank on their 160th anniversary,” said Poloncarz. “Since day one M&T Bank’s success has been built on the hard work and dedication of its employees. It is a great institution that calls the City of Buffalo and Erie County home. We look forward to many more years of top-notch customer service provided by an outstanding company that has become one of the premiere places to work in Western New York.”
Established as Manufacturers and Traders Bank at Two East Swan Street in downtown Buffalo on August 29, 1856, M&T has grown to become one of the 20 largest, independent U.S. based commercial banks, with more than \\$123 billion in assets, 800 branch offices and 17,000 employees across eight states and the District of Columbia.
With a longstanding tradition of careful, conservative and consistent management, M&T is one of the best performing regional banks in the nation. Since 1983, when Robert G. Wilmers became Chairman and CEO, M&T’s total assets have grown from \\$2.1 billion to \\$123 billion, and the value of its shares grew at a compounded rate of 14.8%—the best return of the
100 largest banks in existence at that time. M&T has successfully completed 24 acquisitions over the same period. During the financial crisis, M&T was one of just two commercial banks out of 20 in the S&P 500 that did not reduce its dividend.
“We are proud of our 160-year history, but we’re far prouder of the work we’ve done to help our customers succeed and our communities flourish,” said Mr. Wilmers. “As we look ahead, M&T has many reasons to be optimistic for its future and for the future of Buffalo, the city it has called home since 1856.”
M&T is one of Western New York’s top private-sector employers, with nearly 7,000 employees in the region, up from 2,096 in 1983, an increase of more than 230 percent. Over the last 25 years, M&T has invested more than \\$100 million to support thousands of charitable organizations in the region, and just this past year, its employees volunteered 118,752 hours at 1,722 local organizations.
M&T is the top Small Business Administration (SBA) lender in many of the markets it serves, including Buffalo, Baltimore, Philadelphia, Rochester, Wilmington and Washington, D.C., and it holds the first or second position in deposit share in its eight of its markets.
“As we recognize our 160th anniversary, M&T Bank is celebrating its commitment to the communities it serves,” said M&T’s President, Mark J. Czarnecki. “Thanks to the hard work of our dedicated employees, we plan to be a strong local bank serving our customers for generations to come.”
The event also marked the conclusion of M&T’s 47th annual ‘Plaza Event Series,’ an 11-week-long lunchtime concert series featuring free performances by local artists.
About M&T Bank
M&T Bank is a multi-state community-focused bank serving New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and Washington, D.C. Founded in 1856, M&T Bank provides banking, investment, insurance and mortgage financial services to consumer, business and government clients.