Federal Reserve Release, Press Release; image with eagle logo links to home page
Release Date: March 11, 2003

For immediate release

The Federal Reserve Board today announced its approval of the applications and notice under the Bank Holding Company Act ("BHC Act") by M&T Bank Corporation, Buffalo, New York ("M&T"), to merge with Allfirst Financial Inc., Baltimore, Maryland ("Allfirst"), and to indirectly acquire certain nonbanking subsidiaries of Allfirst. In addition, the Board approved the application under the Bank Merger Act by Manufacturers & Traders Trust Company, also in Buffalo, to merge with Allfirst Bank, also in Baltimore.

The Board also approved a related application under the BHC Act by Allied Irish Banks, p.l.c., Dublin, Ireland, the parent company of Allfirst, to acquire up to 25 percent of the voting shares of M&T.

Attached are the Board's Orders relating to these actions.

Attachment (312 KB PDF)

Attachment (121 KB PDF)

2003 Orders on banking applications

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Last update: March 11, 2003