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M&T BANK CORPORATION

(MTB)
  Report
Delayed Nyse  -  04:04 2022-09-28 pm EDT
179.15 USD   +1.04%
10:35aWedbush Assumes M&T Bank With Neutral Rating, $187 Price Target
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09/26InTest Expands M&T Bank Term Loan Facility by $25.5 Million
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M&T Bank Donates Former Bank Building For New Workforce Development Center in York

08/17/2022 | 08:54am EDT

M&T Bank is donating a recently closed bank branch in York to the Spanish American Civic Association (SACA) to create a new workforce development center that will help underemployed and unemployed residents find jobs in high-demand fields such as health care, construction, culinary arts and building maintenance.

Tec Centro York will provide basic adult education, linguistic and job skills training and career counseling to individuals in historically underserved communities - including York's Hispanic and Latino residents. SACA, a 5013 organization based in Lancaster, Pa., has partnered with the York Community Resource Center, a nonprofit that offers vocational and technical training, to administer the workforce development programs offered at Tec Centro York.

The new center, located in M&T's former bank branch at 800 E. Market St. in York, is scheduled to open during the second quarter of 2023. M&T closed the bank branch July 29 and consolidated operations into its branch at 21 E. Market St., fewer than 2 miles away. A full-service M&T ATM that accepts deposits and distributes withdrawals will remain available to bank customers outside the Tec Centro York building at 800 E. Market St.

'When we made the difficult decision to consolidate two neighboring bank branches into one facility, we knew we had to give the building to an organization that would use it to benefit the York community,' said Tom Koppmann, M&T's regional president for Southeast Pennsylvania. 'In SACA, we found the perfect partner to provide residents of York with the resources and skills they need to improve their lives and provide for their families. We can't wait to see how Tec Centro York helps to transform the communities it serves.'

The building at 800 E. Market St. will be transferred to the York Community Resource Center, which will replicate the Tec Centro workforce development model SACA started in Lancaster in 2014. In fact, Tec Centro York will be the second replication of Tec Centro. In 2021, Tec Centro Berks opened in Reading, Pa.

The Tec Centro centers typically place most of their students in jobs following training. Those jobs can include certified nurse aid, dental assistant, medical assistant, bank teller, commercial/industrial electrician, plumber, facility maintenance, HVAC and culinary arts.

'SACA and Tec Centro are immensely grateful for collaborative partnerships, like that of M&T Bank,' said Carlos Graupera, Founder and CEO of SACA and SACA Development. 'This is a powerful example of a business using its resources and expertise to work alongside other organizations to amplify the community's access to and effectiveness of our workforce development programs.'

About M&T

M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services in 12 states across the northeastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank. For more information about M&T Bank, visit www.mtb.com.

About SACA

SACA uplifts and restores marginalized communities through human, economic, and social services, while supporting cultural identities. Communities supported by SACA are all-inclusive, empowered to prosper through sustained social and economic transformation, and the belief that diversity is to be embraced and celebrated. Our programming focuses on five key areas: Workforce Development, Human Services, Behavioral Health, Affordable Housing & Commercial Development, Public Broadcasting. Learn more about SACA and its services by visiting www.sacapa.org.

2022 M&T Bank. Member FDIC.

Media Contact:

Scott Graham

(410) 244-4097

sgraham1@mtb.com

(C) 2022 Electronic News Publishing, source ENP Newswire

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Sales 2022 8 194 M - -
Net income 2022 2 136 M - -
Net Debt 2022 - - -
P/E ratio 2022 13,7x
Yield 2022 2,77%
Capitalization 31 136 M 31 136 M -
Capi. / Sales 2022 3,80x
Capi. / Sales 2023 3,18x
Nbr of Employees 22 680
Free-Float 97,3%
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René F. Jones Chairman & Chief Executive Officer
Richard S. Gold President, Chief Operating Officer & Director
Darren J. King Chief Financial Officer & Senior Executive VP
Michele D. Trolli EVP, Chief Technology & Operations Officer
Robert T. Brady Vice Chairman
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