M&T Bank Ends Fiscal Year among Top Small Business Administration Lenders

BUFFALO, N.Y., Oct. 28, 2015 /PRNewswire/ -- M&T Bank, a decades-long supporter of small business through the U.S. Small Business Administration (SBA) loan programs, ended the 2015 federal fiscal year on September 30 with 1,273 loans committed to small businesses through the SBA's most widely used loan program for a total of $166.5 million. This represents a 3.8 percent increase in loan volume and a 0.7 percent increase in dollar volume over the prior fiscal year period.

M&T Bank ranked first in both loan and dollar volume for SBA 7(a) loans in the SBA districts of Baltimore, Md. and Buffalo, N.Y., which includes loans made in Rochester, N.Y. In addition, the company also ranked first in the number of loans in Philadelphia, Pa., Washington, D.C. and Wilmington, Del., and among the top ten in both units and volume in Newark, N.J., New York City, N.Y., Syracuse, N.Y., Pittsburgh, Pa. and Richmond, Va. M&T Bank finished the 2015 federal fiscal year as America's seventh-largest issuer of U.S. Small Business Administration 7(a) loans.

"In 2007, M&T Bank ranked as the 17th largest provider of SBA loans, nationally. Today, we're America's 7th largest provider of SBA loans, which puts us ahead of some well-known banks more than double our size," said Neil Hosty, senior vice president for business banking at M&T. "The loans we approved helped small business owners receive the capital they need to open their doors, build inventories and hire workers. Their success benefits their employees and families, as well as their communities, and that's something we've long understood to be important."

Lending activity in its major Northeast and Mid-Atlantic communities included:

• Baltimore SBA District – No. 1 lender with 260 loans for $36.2 million. M&T issued more than 43 percent of the total number of 7(a) loans in the district and increased its number of loans and dollar volume by 10 and 22 percent over the previous fiscal year, respectively.
• Buffalo SBA District (Includes Rochester) – No. 1 lender with 224 loans for $26.7 million. M&T has now been the largest issuer of SBA loans in Buffalo for 20 years.
• Philadelphia SBA District – No. 1 lender in total loans and No. 3 lender in dollar volume, with 203 loans for $22.5 million.
• Syracuse SBA District – No. 1 lender in total loan dollar volume and No. 2 lender in total loans, with 171 loans for $21 million.
• Washington DC SBA District – No. 1 lender in total loans, with 119 loans for $19.4 million.
• New York City SBA District – No. 3 lender in total loans, with 117 loans made for $11.7 million.
• Newark SBA Office – No. 5 lender in total loans, with 66 loans for $12.9 million. This resulted in a 19 percent increase in loans and 36 percent increase in dollar volume over the previous fiscal year.
• Wilmington SBA Office – No. 1 lender in total loans with 58 loans for $7.9 million. This represents an increase of more than 39.2 percent in total loan volume over the previous fiscal year.

M&T Bank was recently approved by the Federal Reserve and the State of New York to acquire Hudson City Savings Bank, which will make M&T the sixth largest bank by deposit share in the state of New Jersey. While Hudson City has historically focused more of its lending on residential mortgages, M&T Bank will offer its small business lending programs throughout the Hudson City footprint.

"During the last few years, we've opened three additional commercial branches in New Jersey and have added a team of bankers focused on helping small businesses and mid-sized businesses grow and thrive," said Paula Mandell, M&T Bank area executive for New Jersey, Connecticut, Westchester County, NY and Rockland County, NY. "It's rewarding to see the impact of this work and how it has contributed to our number five ranking in loan volume in the SBA Newark Office. We look forward to building on that success and broadening the reach of our community banking model with the addition of the Hudson City branch network."

During the seven-year period M&T Bank has been one of the top 10 most active SBA 7(a) lenders in the U.S., the company has increased its SBA 7(a) lending 62.8 percent in loans and 87.1 percent in dollar volume from federal fiscal year 2009 to 2015.

The 7(a) program is the SBA's largest loan guarantee program, helping start-up and existing small businesses with operating capital for a variety of general business purposes. Since 1989, M&T Bank has provided more than $2.66 billion in SBA-guaranteed financing to thousands of small businesses.

M&T Bank was recognized earlier in the year by Greenwich Associates with 16 Greenwich Excellence Awards—13 national and three regional honors—for providing excellent banking products and services to small and mid-sized companies.

For more information on M&T's small business products and services, visit www.mtb.com/business. For additional information on SBA programs, visit www.sba.gov.

About M&T Bank 
Founded in 1856, M&T Bank Corp. (www.mtb.com) is one of the 20 largest U.S. commercial bank holding companies, with more than $98 billion of assets and more than 650 branch offices in New York, Pennsylvania, Maryland, Delaware, Virginia, West Virginia and Washington, D.C. ©2015 M&T Bank. Member FDIC.

SOURCE M&T Bank