Key Developments: M&T Bank Corp (MTB)
104.13USD
18 Jun 2013
$1.09 (+1.06%)
$103.04
$103.03
$104.70
$102.36
1,459,266
704,933
$107.41
$79.06
Latest Key Developments (Source: Significant Developments)
M&t Bank Corp Announces Second Quarter Common Stock Dividend
M&t Bank Corp announced that it has declared a quarterly cash dividend of $.70 per share on its common stock. The dividend will be payable June 28, 2013 to shareholders of record at the close of business on June 3, 2013. Full Article
M&t Bank Corp Announces Dividend Declaration on Series A and Series C Preferred Stock
M&t Bank Corp announced that it has declared quarterly cash dividends of $12.50 per share on each of its Series A and Series C preferred stock. The dividends will be payable May 15, 2013 to shareholders of record at the close of business on May 1, 2013. Full Article
M&t Bank Corp And Hudson City Bancorp, Inc. Updates On Proposed Merger
M&t Bank Corp and Hudson City Bancorp, Inc. announced that they expect additional time will be required to obtain a regulatory determination on the applications necessary to complete their proposed merger. M&T filed regulatory applications with regulators in September, 2012. M&T has learned that the Federal Reserve has identified certain regulatory concerns with M&T's procedures, systems and processes relating to M&T's Bank Secrecy Act and anti-money-laundering compliance program. M&T has already commenced initiative, including the hiring of an outside consulting firm, intended to fully address the Federal Reserve's concerns. In view of the potential timeframe required to implement this initiative, demonstrate efficacy to the satisfaction of the Federal Reserve and otherwise meet any other regulatory requirements that may be imposed in connection with these matters, M&T and Hudson City believe that the timeframe for closing the transaction will be extended substantially beyond the date previously expected. M&T and Hudson City intend to extend the date after which either party may elect to terminate the merger agreement if the merger has not been completed from August 27, 2013 to January 31, 2014, but there can be no assurances that the merger will be completed by that date. The consideration and exchange ratio as provided in the merger agreement will remain the same. Full Article
M&t Bank Corp Announces First Quarter Common Stock Dividend
M&t Bank Corp announced that it has declared a quarterly cash dividend of $.70 per share on its common stock. The dividend will be payable March 29, 2013 to shareholders of record at the close of business on March 4, 2013. Full Article
M&t Bank Corp Announces Dividend Declaration On Series A And Series C Preferred Stock
M&t Bank Corp announced that it has declared quarterly cash dividends of $12.50 per share on each of its Series A and Series C preferred stock. The dividends will be payable February 15, 2013 to shareholders of record at the close of business on February 1, 2013 . Full Article
M&t Bank Corp Announces Fourth Quarter Common Stock Dividend
M&t Bank Corp announced that it has declared a quarterly cash dividend of $.70 per share on its common stock. The dividend will be payable December 31, 2012 to shareholders of record at the close of business on December 3, 2012. Full Article
M&t Bank Corp Announces Dividend Declaration On Series A And Series C Preferred Stock
M&t Bank Corp announced that it has declared quarterly cash dividends of $12.50 per share on each of its Series A and Series C preferred stock. The dividends will be payable November 15, 2012 to shareholders of record at the close of business on October 31, 2012. Full Article
Hudson City Bancorp Inc To Merge With M&T Bank Corporation
Hudson City Bancorp Inc announced that they have entered into a definitive agreement under which Hudson City will merge into a subsidiary of M&T, expanding the premier community banking franchise in the eastern United States. Under terms of the agreement, each Hudson City share will receive consideration valued at 0.08403 of an M&T share in the form of either M&T stock or cash, based upon the election of each Hudson City shareholder, subject to proration as specified in the merger agreement (which provides for an aggregate split of total consideration of 60% common stock of M&T and 40% cash). Based on the closing price of M&T stock on August 24, 2012, the transaction is valued at approximately $3.7 billion. M&T will acquire Hudson City's network of 135 branch offices, which are located in New Jersey (97 branches), downstate New York (29 branches) and Fairfield County, Connecticut (9 branches). M&T's existing branch network is adjacent to Hudson City's franchise, with very little overlap. The combined network of 870 branches will stretch from Connecticut to Virginia. .P. Morgan acted as financial adviser to Hudson City and rendered a fairness opinion in connection with the transaction, and Sullivan & Cromwell LLP acted as its legal adviser. Evercore Partners rendered a fairness opinion to M&T in connection with the transaction, and Wachtell, Lipton, Rosen & Katz acted as its legal adviser. Full Article
M&t Bank Corp Announces Third Quarter Dividend
M&t Bank Corp announced that it has declared a quarterly cash dividend of $.70 per share on its common stock. The dividend will be payable September 28, 2012 to shareholders of record at the close of business on September 4, 2012. Full Article
M&T Bank Corporation Announces Second Quarter Dividend
M&T Bank Corporation announced that it has declared a quarterly cash dividend of $0.70 per share on its common stock. The dividend will be payable June 29, 2012 to shareholders of record at the close of business on June 1, 2012. Full Article
M&T Bank to fix anti-money laundering flaws, Fed says
WASHINGTON - M&T Bank Corp will put a comprehensive plan in place to fix problems with its anti-money laundering policies that had caused regulators to put a hold on its $3.7 billion bid to buy Hudson City Bancorp.
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
