M&T Buying Citi Branches

The Buffalo, N.Y., banking scene is about to change.
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M&T Bank

(MTB) - Get Report

is getting bigger in upstate New York, thanks to

Citigroup

(C) - Get Report

.

The Buffalo, N.Y.-based lender is buying 21 branches in upstate New York from the nation's largest bank. Most of the branches are located in Buffalo and Rochester.

The banks did not disclose the terms of the deal. M&T Bank would acquire $274 million in loans and assume $1.1 billion in deposits.