M&T Bank Corp. said it will pay a regular quarterly dividend of 70 cents per share. The holding company for M&T Bank said that the dividend will be paid March 31 to shareholders of record as of Feb. 28. M&T, based in Buffalo, N.Y., has paid 70-cent quarterly dividends for at least a year. The company's banks had 739 offices in the mid-Atlantic region at the end of 2009.
M&T Bank Corporation operates as the holding company for M&T Bank and M&T Bank, National Association that provide commercial and retail banking services to individuals, corporations and other businesses, and institutions. It offers business loans and leases; business credit cards; deposit products, including savings deposits, time deposits, NOW accounts, and noninterest-bearing deposits; and financial services, such as cash management, payroll and direct deposit, merchant credit card, and letters of credit.
The company also provides residential real estate loans; multifamily commercial real estate loans; commercial real estate loans; residential mortgage loans; investment and trading securities; short-term and long-term borrowed funds; brokered certificates of deposit and interest rate swap agreements related thereto; and offshore branch deposits.
In addition, it offers foreign exchange services. Further, the company provides consumer loans, and commercial loans and leases; credit life, and accident and health reinsurance; and brokerage, investment advisory, and insurance agency services. As of December 31, 2009, it had 793 banking offices in New York State, Pennsylvania, Maryland, Delaware, New Jersey, Virginia, West Virginia, and the District of Columbia, as well as a branch in George Town, Cayman Islands. The company was founded in 1969 and is headquartered in Buffalo, New York.
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Financial services stocks have always made me fell a little uneasy. The record of many companies involved in the financial services industry is very poor.
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