The CRA exam measures a number of factors, including the depth of a bank's community development lending, the distribution of small business and home mortgage loans in communities served by the bank, the availability of bank branches and services in low-to-moderate income neighborhoods and the bank's commitment to offering "community development services."
The exam cited M&T as a leader in community development services, including sponsoring and participating in a significant number of seminars and presentations relating to affordable mortgages, small business assistance, and other banking education throughout its geographic areas. M&T provided financial or volunteer assistance for 1,876 events, such as financial literacy seminars and mortgage education programs, during the assessment period.
The 2011 rating issued by the Federal Reserve Bank of
New York reflects M&T's community reinvestment performance through
December 31, 2009. Federal regulators spend months reviewing the bank's lending, service and investment data to determine the rating.
M&T Bank, founded in 1856, is one of the top 20 independent commercial bank holding companies in the nation, with $78 billion in assets and more than 770 retail and commercial branch offices in New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia, the District of Columbia, and Ontario, Canada. Read more about M&T Bank online at www.mtb.com/newsroom .
Media Contacts:Delaware: Megen Morris (302)651-1462 Maryland, Washington D.C., Virginia: Philip Hosmer (410)949-3042New York: Chet Bridger (716)842-5182 Pennsylvania, New Jersey: Kent Wissinger (717)237-6110SOURCE M&T Bank
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