M&T Bank is a publicly traded (NYSE: MTB), New York-based bank that offers an array of personal, business, and commercial banking products and services. With over 15,000 employees, and tens of billions of dollars in assets, M&T is one of the largest commercial banks in the United States.
On its personal banking side, M&T Bank offers checking, savings, Money Market, and Certificate of Deposit (CD) accounts, as well as investment guidance, retirement planning, and web trading services. Checking account options are numerous and range from free and basic to premium and interest bearing. The bank’s free and college checking account options are very similar and come with no monthly fees and a check card. The premium checking account offers minimal interest and has a monthly service charge that can be avoided by either keeping a minimum account balance or taking out a mortgage loan with the bank. All of M&T Bank’s checking accounts allow account holders to avoid an insufficient funds charge when the violating purchase is less than $5. A savings account is available with a low yield and a monthly service charge unless certain requirements are met. Two Money Market account options are available: one MMA has no monthly service fee but offers a low interest rate, and the other MMA offers more competitive rates with a monthly service charge. Certificates of Deposit (CDs) are available in term lengths ranging from 6 to 60 months.
M&T Bank online banking provides a secure system for account holders to view past transaction history, transfer funds, pay bills, and set account alerts. The M&T website is optimized for mobile banking, and the bank has released a smartphone app to make it easy and convenient to perform the above tasks while on the go.
M&T Bank was originally established in 1856 and is headquartered in Buffalo, New York. The bank is a subsidiary of M&T Bank Corporation, a bank holding company that has grown substantially through numerous acquisitions of financial institutions in the past 25 years. M&T Bank maintains a multitude of branches located throughout the Midwest, Northeast, and parts of south Florida.
Great customer service throughout its many branches. Amazing online banking and mobile. Has an easy to use ability, great look and feel. Offer many good products with great rates and free checking and savings accounts including promotions such as free $150.00 with direct deposit in a checking account.
This bank is very visible in my area so that is why I chose them. The fact that their ATMs are all over the place where I live. The website sometimes is slow and the app that I download is just a link to the mobile page so it really isn't an application. They recently just added the feature to scan a check via online by just taking a picture of it but I have yet to use it yet. When I first got the checking account, I accidentally overcharged it and I tried to call the customer support but they weren't having it. It was my carelessness so I wasn't too angry, mainly just upset about myself for letting it happen. All in all, it meets my minimum needs so that is why I am satisfied with their services.
M&T Bank is a growing local bank that has alot of potential. I opened a checking and a savings account with them and the process was fairly straightforward. Making changes to the accounts is more difficult, as sometimes you must complete this at the bank branch. Due to security measures, they will not allow certain changes through the website. When I had to make an address change, I went to my local branch and the bank officer there was very receptive and helpful in making changes to my account. Overall, the bank's fees and charges on their accounts are in line with the industry, their customer service is good and while they don't have a large number of branches, accounts can be accessed through a network of ATM's. This bank should do well in the future.
M&T Bank was one of the first banks I had a checking/savings account with, and while they are very professional and have a very responsive and efficiente customer support, their products and fees are not up to today's standards. The overdraft fee is quite high compared to other local banks and unions, and their savings account do not yield as much interest as I had hoped. Also, their cellphone app was very outdated and difficult to use, definitely something that I was unhappy with because I definitely missed having the option of seeing my balance, among other things, online. As a first bank for a teenager or young adult who's starting out in the financial world, this isn't that bad of an option, but you should definitely switch to a bank or union with better fees and product options eventually.
|FDIC Certificate #||588|
|Return on Assets - YTD||1.2%|
|Return on Equity - YTD||10.07%|
|Annual Interest Income||$2.03B|
|Assets and Liabilities|
|Assets||Q2 2017vs Q2 2016||$120.4B$123.1B|
|Loans||Q2 2017vs Q2 2016||$87.82B$87.23B|
|Deposits||Q2 2017vs Q2 2016||$95.22B$95.73B|
|Equity Capital||Q2 2017vs Q2 2016||$14.66B$15.40B|
|Loan Loss Allowance||Q2 2017vs Q2 2016||$1.00B$966.2MM|
|Unbacked Noncurrent Loans||Q2 2017vs Q2 2016||$1.26B$1.38B|
|Real Estate Owned||Q2 2017vs Q2 2016||$102.5MM$170.3MM|
Rates for M&T Bank are currently being reviewed.