M&T Bank

How can empathy and understanding translate into banking? In about 600 ways, according to M&T Bank's Aarthi Murali. 

Buffalo, New York-based M&T is the latest bank to announce changes that will save customers money but also reduce service-fee revenue.

M&T in New York, which is seeking regulatory approval to buy People’s United Financial, recently disclosed plans for around 1,000 layoffs. The backlash — focused on job cuts in the seller’s hometown of Bridgeport — has been stronger than in other recent deals.

With a big assist from M&T Bank, the software developer Magnusmode has added step-by-step instructions for conducting essential banking activities to its mobile service that caters to consumers on the autism spectrum.

The regional bank has renovated an office tower in downtown Buffalo, N.Y., to house 1,000 technology professionals it's hiring, retrain workers, collaborate with fintechs and overhaul everything from mortgage lending to fighting debit card fraud.

Under the leadership of former Chief Risk Officer John D'Angelo, the new environmental, social and governance office will oversee the bank's sustainability and corporate social responsibility functions.

Unlike many of its peers that are plowing funds into securities, M&T has opted to wait and see if the deposits stick around before investing them in “low-return assets," said CEO René Jones.

The deal for the $63 billion-asset People's United would create a company with more than $200 billion of assets and a branch network stretching from Maine to Virginia. Buffalo, N.Y.-based M&T has not made an acquisition since buying Hudson City Bancorp in late 2015.

Harris Simmons of Zions Bancorp. warned that excess deposits could suppress loan demand and pose an inflation threat, while Darren King of M&T tried to reassure investors that deposits will be less volatile than some fear once the economy improves.

Some banks and credit unions boarded up branches and closed early in anticipation of unrest tied to the tense presidential race.

Some banks and credit unions boarded up branches and closed early in anticipation of unrest tied to the tense presidential race.

Many of the Buffalo, N.Y., bank’s commercial loans have exited forbearance granted in the early days of the pandemic — except hospitality and retail, which were given longer dispensation.

The Buffalo, N.Y., bank will pay a $546,000 penalty, which will be passed on to the National Flood Insurance Program to help offset costs.

Wilmington Trust, the wealth management arm of M&T Bank, is extending its hiring spree and considering acquisitions of registered investment advisers.

The company's software can now be used to handle personal loans, credit cards and specialty-vehicle loans.

Banks reported decent loan growth in the spring and early summer as businesses rushed to draw down credit lines and tap the Paycheck Protection Program. But demand has been muted since, and bankers can only guess when it will pick back up.

Lenders press Congress to restart — and revamp — the Paycheck Protection Program; Fed corrects stress test error for Morgan Stanley, Goldman Sachs; M&T's new fintech unit rolls out first product; and more from this week's most-read stories.

The bank's innovation group has developed a software tool for law firms. It hopes the project will help it speed products to market and attract top technology talent.

The coronavirus crisis led to "the greatest acceleration of digital banking in history." Here's what to expect next.

Banks, under pressure to act hastily, began taking applications for government aid to small businesses hit hard by the coronavirus outbreak. But narrow eligibility rules at some banks angered business owners and lawmakers.