M&T Bank (MTB) in Buffalo, N.Y., reportedly plans to close at least 10 branches in its home state.
The $85.1 billion-asset company has requested permission from the New York State Department of Financial Services to close the branches, Buffalo Business First reported Tuesday. The report did not say when the branches would close; a call to M&T seeking comment was not immediately returned.
M&T reported a dip in fourth-quarter earnings last month. Overhead costs and regulatory issues took a bite out of profits, which fell 17% from a year earlier, to $254.7 million.