M&T Bank - Table of Contents
M&T Bank- Chronological History
Bank is the only Bank in our story that remains
Founded by Pascal
(hardware and Letchworth Ironworks) and Bronson
tycoon). Both were still in their 30s when they boarded a
train in NYC to return
home to Buffalo. They were already recognized as civic
leaders. During the long
trip back, the men talked about business and the lack of
facilities to support the growth happening in the city.
They decided to
establish a new bank.
Total of 13 founding stockholders: Henry Martin, former
president of the
Buffalo and Attica Railroad was appointed its first
president and remained so
for 29 years.
March 1856 incorporated by the state with paid capital
of $200,000 and in
August of that year officially opened for business as
Manufacturers and Traders
Bank in a rented storefront at 2 East Swan Street. Buffalo
had a population of
74,000, and was ranked as worlds largest grain port
bypassing even Chicago.
We had 55 hotels.
Before it was a year old outgrew
location increased capital by 250% - moved to larger
facility at 275 Main
Street. By 1901 it had relocated four times.
M&T Bank took an active role in providing capital
essential to encourage
the growth of area businesses: played a vital part in
bringing various short
railroad lines together, forming basic companies from
railroad systems developed; leather goods manufacturers
nationally, contributed substantially to the expansion of
the Port of Buffalo as
a world grain and milling center.
1902 merged with Merchants Bank of Buffalo
1916 purchased Third National Bank.
1925 merged with Fidelity
Company (head of the syndicate then underwriting the
financing of the
Peace Bridge forming the Manufacturers and Traders Trust
combined assets - $100 million.
1927 acquired Peoples Bank of Buffalo. Total assets -
1928 moved across Swan Street [284
Main St.] after it
merged with Fidelity Trust Company. Sold building to
Federal Reserve Bank who
maintained offices here until 1959 when it built new
building on Delaware and
1959 this building was demolished and lot left vacant.
The marble columns were
salvaged from the building and now stand at Baird Point
next to LaSalle Lake on
UBs north campus. For years the columns were in a
parking lot off
Main Street on South Campus. Remnants of the columns can
also be found in the
Allentown neighborhood in front of former Tony Sisti
1967 moved to new headquarters at One M&T Plaza.
1969 M&T Bank became the major subsidiary of First
Corporation, a bank holding company.
1980s acquired by Robert Wilmers and other shareholders.
include Warren Buffet.
1990s present continued to acquire banks and now has
assets of $97 billion
with a presence in 7states. Locally employs 5,000
Page by Chuck LaChiusa in 2015
...Home Page ...|