BUFFALO,
N.Y., March 5, 2024 /PRNewswire/ -- M&T Bank
(NYSE:MTB) Chairman and CEO René Jones has released his annual
letter to shareholders, continuing a longstanding tradition of
providing honest and insightful commentary about the state of the
company and the economic conditions affecting its communities and
the broader banking industry.
This year's letter:
- Highlights M&T's strong financial results in 2023,
including achieving the highest level of earnings in the company's
history;
- Illuminates the circumstances surrounding recent bank failures
and how the ensuing reaction sent a strong signal that the industry
still has much work ahead to earn and re-earn public trust;
- Explores headwinds the bank sees coming in the healthcare
industry and the potential negative effects for communities across
the U.S.;
- Reinforces M&T's ongoing mission to earn the trust of
customers and the communities in which they reside, and what this
work looks like in the company's newest communities across New
England.
Writing about the ongoing mission to earn the trust of customers
and their communities, Jones says, "We take as part of our charge
the imperative of building and maintaining public trust in what we
do—through prudent lending and support for civic institutions. We
understand—as does the public—that the erosion of trust is
problematic not just for banks but for those who buy or renovate
homes, purchase new cars, convert ideas into profitable businesses,
and have the time and means to volunteer at the great range of
local groups that are marks of healthy community life. For us,
trust is not a given—it's a process, one on which we are at work
every day."
Jones ends his letter with a note of heartfelt appreciation to
his over 22,000 colleagues at M&T Bank, recognizing their work
and impact amid macroeconomic challenges.
"Our team is a group undaunted by challenge and unmoved by
tumult. It's a group that tirelessly goes well above and far beyond
what can oftentimes be a loud call of duty. They demand of
themselves to be better, to do more for our customers and
communities every day," he writes. "We are thankful for the sum
total of the countless things they do that make a tremendous
difference. For the customers they delight. For the deals they do.
For the company they've built. We're thankful for all of it."
To read the full letter, visit M&T's Bank Investor Relations
page.
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 eastern 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 on M&T Bank, visit www.mtb.com.
M&T Bank. Member FDIC.
Media Contacts:
National Media, Trade Publications:
Frank Lentini
(929) 651-0447
flentini@mtb.com
New York State (excluding
NYC and Long Island)
Thea Pecht
(716) 512-4448
tpecht@mtb.com
New England
Christopher Loh
(617) 581-2676
cloh@mtb.com
New York Metro (NYC, Long Island, Tarrytown, New
Jersey)
David Samberg
(201) 368-4515
dsamberg@mtb.com
Mid-Atlantic
(Delaware, Maryland, Pennsylvania, Virginia,
and Washington, DC):
Frank Lentini
(929) 651-0447
flentini@mtb.com
Wilmington Trust
Pat Fitzgibbons
(212) 350-2083
pfitzgibbons@wilmingtontrust.com
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SOURCE M&T Bank
