M&T Bank Corp. of Buffalo has applied for a bank charter in New Jersey.
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"The charter will fold into M&T and give us full banking capabilities in New Jersey. However, our focus will be on commercial customers," Gino Martocci, a senior vice president at M&T overseeing the New Jersey charter application, said Tuesday in a phone interview.
He said the company has no operations in New Jersey and wants to provide better service to its commercial customers doing business there. It has two M&T Mortgage Corp. offices in the state.
M&T applied for a bank charter in Bergen County about six weeks ago. Mr. Martocci said he did not know how long the approval process will take.
