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People's United jumps 14% after M&T agrees to buy the regional bank for $7.6 billion

Lucas Jackson/Reuters People's United Financial surged 14% on Monday after M&T Bank agreed to acquire the regional bank for $7.6 billion.The proposed merger will be funded with stock, with M&T issuing 0.118 shares for each People's United share. The combined bank will have $200 billion in assets, with locations in 12 states on the East coast.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.People's United Financial surged as much as 14% on Monday after M&T Bank agre...
Tags: Banks, Trends, Markets, Stock Market, United, East, Mid Atlantic, M&T Bank, Matthew Fox, People s United, René Jones, Mover, Merger and Acquisitions, Stock Market 2021, Regional Banks, Lucas Jackson Reuters People s United Financial


People's United jumps 10% after M&T agrees to buy the regional bank for $7.6 billion

Lucas Jackson/Reuters People's United Financial surged 10% on Monday after M&T Bank agreed to acquire the regional bank for $7.6 billion.The proposed merger will be funded with stock, with M&T issuing 0.118 shares for each People's United share. The combined bank will have $200 billion in assets, with locations in 12 states on the East coast.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.People's United Financial surged as much as 10% on Monday after M&T Bank agre...
Tags: Banks, Trends, Markets, Stock Market, United, East, Mid Atlantic, M&T Bank, Matthew Fox, People s United, René Jones, Mover, Merger and Acquisitions, Stock Market 2021, Regional Banks, Lucas Jackson Reuters People s United Financial


United States: Stroock's National Real Estate Group Represents Rockwood And Midtown Equities On $245 Million Loan For Brooklyn's Empire Stores - Stroock & Stroock & Lavan LLP

Stroock has represented a joint venture between Rockwood Capital and Midtown Equities in securing financing from M&T Bank for a mixed-use project in the DUMBO section of Brooklyn.
Tags: News, United States, M T Bank, Stroock, Lavan LLP, Brooklyn s Empire Stores Stroock, Rockwood Capital and Midtown Equities


Here's the Top-Performing Big Bank in America

If you go back to 1983 and look at the 100 largest banks in the country, only 23 of them remain today. Of those, M&T Bank (NYSE: MTB) has produced the best total shareholder return.M&T Bank's stellar performance isn't relegated to history. It remains the best-run big bank in the United States today, three and a half decades after chairman and CEO Robert Wilmers took the reins, according to Bank Director magazine's 2017 Bank Performance Scorecard.Image source: Getty Images.Continue reading [Aut...
Tags: Finance, America, United States, Financials, Mtb, M T Bank, John Maxfield, BRK-A, BRK-B, Robert Wilmers, Bank NYSE, 87f06902-6b36-11e7-a0d7-0050569d4be0, Bank Director


J.F. Lehman recaps NorthStar

J.F. Lehman & Company has recapitalized Northstar Group Holdings, a provider of environmental and technical solutions to the commercial and government end markets. No financial terms were disclosed for the transaction that was done in partnership with Medley Capital Corp. M&T Bank provided the debt financing for the deal while Houlihan Lokey served as financial adviser to NorthStar. PRESS RELEASE NEW YORK, June 13, 2017 /PRNewswire/ — J.F. Lehman & Company (“JFLCO”) is pleased to announce that a...
Tags: New York, Trends, United States, Company, The Company, Northstar, Houlihan Lokey, M T Bank, Faegre Baker Daniels, Balch Bingham, PE Deals, JFLCO, Lehman Company, Northstar Group Holdings, Medley Capital Corp M T Bank, Lehman Company JFLCO


Eureka recaps McCue

Eureka Growth Capital has recapitalized Peabody, Massachusetts-based McCue Corp, a provider of damage prevention and asset protection solutions for the retail and material handling sectors. No financial terms were disclosed. The company’s founder David McCue will retain a “significant” equity stake and remain on the board of directors. M&T Bank provided debt financing to back the transaction. PRESS RELEASE PHILADELPHIA, PA, June 1, 2017 – Eureka Growth Capital (“Eureka”) today announced its part...
Tags: China, Trends, Pennsylvania, Bank, Philadelphia, Eureka, Board, Company, Colin, Dan, U K, Duke University, Fuqua School of Business, M T Bank, McCue, PE Deals


M&T Bank names new regional president in Albany, Hudson Valley

Mark Stellwag has been named regional president for M&T Bank's Albany, New York, and Hudson Valley markets. Stellwag has 35 years of banking industry experience, including 25 years at M&T Bank (NYSE: MTB). He was named market president of the Hudson Valley region in 2015. Stellwag previously spent 10 years as the team leader for M&T’s commercial real estate group in Albany and the Hudson Valley. He is based at M&T’s Fishkill office. His promotion comes as M&T Bank has named Beth Beshaw market...
Tags: Albany, Mtb, Hudson Valley, Albany New York, M T Bank, T Bank, Fishkill, Albany Hudson Valley, Mark Stellwag, Stellwag, Bank NYSE, Beth Beshaw


Parthenon and M2 team up with Matrix ex-president to build fintech platform

Parthenon Capital Partners, a mid-market private equity firm and M2, a financial services-focused company have teamed up with John Moody, co-founder and ex-president of Matrix Financial Solutions, to build a next-generation financial tech platform for retirement plan, bank trust and wealth management providers. No financial terms were disclosed. PRESS RELEASE SAN FRANCISCO–(BUSINESS WIRE)–Parthenon Capital Partners (“Parthenon”) and M2 Group Holdings, LLC (“M2”) have announced a strategic partne...
Tags: Boston, Trends, Parthenon, Moody, BR, John He, Wilmington Trust, Matrix, M T Bank, PE Deals, Parthenon Capital, Parthenon Capital Partners, San Francisco Parthenon, John Moody co, Matrix Financial Solutions, M2 Group Holdings LLC


Creative Conference Gift Ideas

Ever joked about “gifts that keep on giving?” Sometimes you don’t want certain gifts to keep on giving, but in the case of members attending your conference, you do want the gifts you give them to mean something and leave them with fond memories of your event. So what’s appropriate? What’s unusual and memorable? And what won’t break the bank? Industry professionals who use ConventionPlanit.com posted some of their own gift ideas in the Stellar Tips section of the ConventionPlanit.com website. He...
Tags: China, Chicago, United States, Engineering, Arizona, Illinois, Palatine, M T Bank, Promotional Items, Tips for Meeting Planners, Meeting Ideas, Denice Cajigas, Crop Insurance Research Bureau, Susan J Rosen, Vicki Corson, Al Rickard CAE President of Association Vision


Eureka-backed Jansy Packaging buys Cogent Partners

Jansy Packaging, a portfolio company of Eureka Growth Capital, has acquired Pomona, California-based Cogent Partners, a provider of packaging products and services. No financial terms were disclosed. M&T Bank provided a loan to back the transaction. PRESS RELEASE PHILADELPHIA, PA, February 22, 2017 – Eureka Growth Capital (“Eureka”) today announced that its portfolio company, Jansy Packaging (“Jansy”), a leading provider of specialty packaging solutions including design and outsourced production...
Tags: California, Trends, M&a, Bank, Philadelphia, Chris Miller, Eureka, Chicago Il, Brad, Chen, M T Bank, Pomona California, James Chen, Dongguan China, Fort Lee NJ, Eureka Growth Capital


M&T Bank opens new branch in Ellicottville

M&T Bank’s new retail branch in Ellicottville is open for business. The bank relocated from its longtime office at 3 Washington St. to a former gas station at 47 Washington St. that offers more parking and a drive-up ATM lane. There are eight total employees – five branch staff plus a business banking relationship manager, a mortgage officer and an M&T Securities representative. M&T (NYSE: MTB) plans to sell 3 Washington St., where it has operated a branch since 1959 when the bank entered the…...
Tags: Mtb, Washington St, M T Bank, T Bank, Ellicottville, T Securities representative M T NYSE


M&T gets state approval to branch into the Bronx

M&T Bank now has official approval from New York state to expand its New York City-area retail network. M&T (NYSE: MTB) received the go-ahead from the state Department of Financial Services to open a branch in the Bronx. Scheduled to open this spring, the office will be the first M&T branch in the Bronx and the 18th branch in the five boroughs. Construction is underway. Last month, M&T said it will transform a vacant storefront at 2460 Grand Concourse into a 1,500-square-foot full-service bran...
Tags: New York, New York City, Bronx, Mtb, Department of Financial Services, M T Bank


Reverse Mortgage Lenders Buck Industry Volume Trend with Big Retail Gains

Reverse mortgage endorsements dropped slightly towards the end of 2016, dragged down by a modest decline in retail origination volumes. Some lenders, however, bucked the trend in a big way with sizable gains in their retail channels. Home Equity Conversion Mortgage (HECM) endorsements fell 0.7% to 3,884 loans in November 2016, a month that saw retail volume fall 4.3% and wholesale endorsements grow 3.7%, according to the latest HECM Originators from Reverse Market Insight (RMI). (Source: Reve...
Tags: News, Finance, Data, M T Bank, HECM, Reverse Mortgage, RMI, Longbridge Financial, Reverse Mortgage Funding


M&T Bank wants to open a branch in the Bronx

M&T Bank wants to open a branch in the Bronx and it is seeks permission from the Federal Reserve Board to do so. In a legal notice, the Buffalo-headquartered bank (NYSE: MTB) said it plans to file an application with the Fed to establish an office at 2460 Grand Concourse, a busy thoroughfare in the borough. M&T does not have any branches in the area, though it does have a growing presence in the tri-state region following the November 2015 acquisition of Hudson City Bancorp Inc. in New Jersey. ...
Tags: New Jersey, Buffalo, Bronx, Nyse, Fed, Mtb, Federal Reserve Board, M T Bank, T Bank


Berkshire Group hires venture investments VP

Berkshire Group has appointed Justin Brown as vice president of venture investments. Previously, Brown worked at M&T Bank where he served as vice president of commercial real estate banking. PRESS RELEASE BOSTON–(BUSINESS WIRE)–Berkshire Group announced Justin Brown has joined the company as Vice President, Venture Investments. In this role, he will support the Berkshire Group Venture Investments team on underwriting, due diligence and asset management of new platform investments for BRV Partner...
Tags: Boston, San Francisco, Trends, People, Berkshire, Brown, Justin, Justin Brown, M T Bank


New York-based M&T Bank pays $64M to settle federal probe

ALBANY, N.Y. (AP) — Federal authorities say M&T Bank has agreed to pay $64 million to resolve allegations that it knowingly produced mortgage loans that were federally insured but didn’t meet the applicable requirements. In the settlement announced Friday by the U.S. attorney’s office, the Buffalo, New York-based bank acknowledges that from 2006 to 2011 […]
Tags: Business, New York, Albany, Buffalo New York, M T Bank, T Bank, Nation & World


Former M&T Bank employees file lawsuit seeking overtime pay

Nine former employees of M&T Bank have filed a lawsuit accusing the bank of violating federal overtime law.The former workers say they were hired to do compliance and analytical work, but instead performed data entry and routine clerical tasks, according to the lawsuit. Because of heavy caseloads...
Tags: M T Bank, T Bank