M&T Bank Corp (NYSE:MTB)
$ 152.735 -0.645 (-0.42%) Market Cap: 25.48 Bil Enterprise Value: 9.61 Bil PE Ratio: 10.33 PB Ratio: 1.01 GF Score: 80/100
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M&T Bank Corp at BancAnalysts Association of Boston Conference Transcript

Nov 08, 2019 / 03:00PM GMT
Release Date Price: $167.59 (+0.46%)
Unidentified Analyst

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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