M&T Bank Corporation (M&T), incorporated on November 6, 1969, is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services. The Company's segments are Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking and Retail Banking.
M&T Bank is a member of the Federal Reserve System and the Federal Home Loan Bank System, and its deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to applicable limits. As of December 31, 2016, M&T Bank had 799 domestic banking offices located in New York State, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia, and the District of Columbia, a full-service commercial banking office in Ontario, Canada, and an office in George Town, Cayman Islands. M&T Bank offers a range of financial services to consumers, businesses, professional clients, governmental entities and financial institutions located in its markets. Its lending activity is focused on consumers residing in New York State, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia, and Washington, District of Columbia, and on small and medium-size businesses based in those areas, although loans are originated through offices in other states and in Ontario, Canada. In addition, the Company conducts lending activities in various states through other subsidiaries. Trust and other fiduciary services are offered by M&T Bank and through its subsidiary, Wilmington Trust Company. M&T Bank and certain of its subsidiaries also offer commercial mortgage loans secured by income producing properties or properties used by borrowers in a trade or business. Additional financial services are provided through other operating subsidiaries of the Company.
Wilmington Trust, N.A. is a national banking association and a member of the Federal Reserve System and the FDIC. Wilmington Trust, N.A. offers various trust and wealth management services. Wilmington Trust Company, a subsidiary of M&T Bank, provides a range of Delaware based trust, fiduciary and custodial services to its clients. M&T Insurance Agency, Inc. (M&T Insurance Agency) is an insurance agency subsidiary of M&T Bank. M&T Insurance Agency provides insurance agency services principally to the commercial market. M&T Real Estate Trust (M&T Real Estate) is a Maryland Real Estate Investment Trust. M&T Real Estate engages in commercial real estate lending and provides loan servicing to M&T Bank. M&T Realty Capital Corporation (M&T Realty Capital), a subsidiary of M&T Bank, engages in multifamily commercial real estate lending and provides loan servicing to purchasers of the loans it originates. As of December 31, 2016, M&T Realty Capital serviced $11.8 billion of commercial mortgage loans for non-affiliates. M&T Securities, Inc. (M&T Securities), a subsidiary of M&T Bank, is a registered as a broker/dealer. Wilmington Trust Investment Advisors, Inc. (WT Investment Advisors), a subsidiary of M&T Bank, is a registered investment advisor that serves as an investment advisor to the Wilmington Funds, a family of mutual funds, and institutional clients. Wilmington Funds Management Corporation (Wilmington Funds Management), a subsidiary of M&T, is registered as an investment advisor that serves as an investment advisor to the Wilmington Funds. Wilmington Trust Investment Management, LLC (WTIM), a subsidiary of M&T, is a registered investment advisor that provides investment management services to clients, including certain private funds. As of December 31, 2016, the Company's net loans amounted to $89.86 billion, total securities available for sale amounted to $13.33 billion, total securities held to maturity amounted to $2.45 billion and total deposits amounted to $95.4 billion.
Business Banking
The Business Banking segment provides a range of services to small businesses and professionals within markets served by the Company through the Company's branch network, business banking centers and other delivery channels, such as telephone banking, Internet banking and automated teller machines. Services and products offered by this segment include various business loans and leases, including loans guaranteed by the Small Business Administration, business credit cards, deposit products, and financial services, such as cash management, payroll and direct deposit, merchant credit card and letters of credit.
Commercial Banking
The Commercial Banking segment provides a range of credit products and banking services for middle-market and large commercial customers, mainly within the markets served by the Company. Services provided by this segment include commercial lending and leasing, letters of credit, deposit products, and cash management services.
Commercial Real Estate
The Commercial Real Estate segment provides credit and deposit services to its customers. Real estate securing loans in this segment is generally located in New York State, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia, the District of Columbia and the western portion of the United States. Commercial real estate loans may be secured by apartment/multifamily buildings; office, retail and industrial space, or other types of collateral. Activities of this segment also include the origination, sales and servicing of commercial real estate loans through the Fannie Mae Delegated Underwriting and Servicing (DUS) program and other programs. Commercial real estate loans held for sale are included in this segment.
Discretionary Portfolio
The Discretionary Portfolio segment includes investment and trading account securities, residential real estate loans and other assets; short-term and long-term borrowed funds; brokered deposits, and Cayman Islands office deposits. This segment also provides foreign exchange services to customers.
Residential Mortgage
The Residential Mortgage Banking segment originates and services residential mortgage loans and sells substantially all of those loans in the secondary market to investors or to the Discretionary Portfolio segment. In addition to the geographic regions served by or contiguous with the Company's branch network, the Company maintains mortgage loan origination offices in several western states. The Company periodically purchases the rights to service loans and also sub-services residential real estate loans for others. Residential real estate loans held for sale are included in this segment.
Retail Banking
The Retail Banking segment offers a range of services to consumers through various delivery channels, which include branch offices; automated teller machines, and telephone, mobile and Internet banking. Credit services offered by this segment include consumer installment loans, automobile loans (originated both directly and indirectly through dealers), home equity loans and lines of credit and credit cards. The segment also offers to its customers deposit products, including demand, savings and time accounts; investment products, including mutual funds and annuities, and other services.
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M&T Bank Corporation Overview
M&T Bank Corporation (M&T) is a bank holding company that was incorporated on November 6, 1969. It operates through its two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). M&T Bank Corporation offers a range of retail and commercial banking, trust and wealth management, and investment services.
Segments and Subsidiaries
M&T Bank Corporation operates through various segments and subsidiaries:
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Business Banking: This segment provides services to small businesses and professionals, including business loans, leases, credit cards, deposit products, and financial services such as cash management and payroll.
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Commercial Banking: The Commercial Banking segment offers credit products and banking services to middle-market and large commercial customers. Services provided include commercial lending, leasing, letters of credit, deposit products, and cash management services.
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Commercial Real Estate: This segment provides credit and deposit services to customers, with a focus on commercial real estate loans secured by various types of collateral, such as apartment/multifamily buildings, office, retail, and industrial space.
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Discretionary Portfolio: The Discretionary Portfolio segment includes investment and trading account securities, residential real estate loans, short-term and long-term borrowed funds, brokered deposits, and Cayman Islands office deposits. It also provides foreign exchange services to customers.
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Residential Mortgage Banking: This segment originates and services residential mortgage loans, selling most of them in the secondary market to investors or to the Discretionary Portfolio segment. It also offers mortgage loan origination offices in several western states.
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Retail Banking: The Retail Banking segment offers a range of services to consumers through various delivery channels, including branch offices, ATMs, and online banking. Services provided include consumer installment loans, automobile loans, home equity loans and lines of credit, credit cards, deposit products, investment products, and other services.
In addition to the above segments, M&T Bank Corporation has subsidiaries that provide various services:
- Wilmington Trust, N.A.: Offers trust and wealth management services.
- Wilmington Trust Company: Provides Delaware-based trust, fiduciary, and custodial services.
- M&T Insurance Agency, Inc.: Offers insurance agency services primarily to the commercial market.
- M&T Real Estate Trust: Engages in commercial real estate lending and provides loan servicing to M&T Bank.
- M&T Realty Capital Corporation: Engages in multifamily commercial real estate lending and provides loan servicing to purchasers of the loans it originates.
- M&T Securities, Inc.: Registered as a broker/dealer.
- Wilmington Trust Investment Advisors, Inc.: Registered investment advisor serving the Wilmington Funds (a family of mutual funds) and institutional clients.
- Wilmington Funds Management Corporation: Registered investment advisor serving the Wilmington Funds.
- Wilmington Trust Investment Management, LLC: Registered investment advisor providing investment management services to clients, including certain private funds.
Geographic Presence
As of December 31, 2016, M&T Bank had 799 domestic banking offices located in New York State, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia, and the District of Columbia. It also had a full-service commercial banking office in Ontario, Canada, and an office in George Town, Cayman Islands.
Financial Figures
As of December 31, 2016, some financial figures for M&T Bank Corporation were as follows:
- Net loans: $89.86 billion
- Total securities available for sale: $13.33 billion
- Total securities held to maturity: $2.45 billion
- Total deposits: $95.4 billion
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