|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.
2003 Orders on banking applications