April 26, 2011
Approval of proposal by M&T Bank Corporation and Manufacturers and Traders Trust Company
For immediate release
The Federal Reserve Board on Tuesday announced its approval of the application and notice under sections 3 and 4 of the Bank Holding Company Act by M&T Bank Corporation, Buffalo, New York, to acquire Wilmington Trust Corporation, and thereby indirectly acquire its subsidiary bank, Wilmington Trust Company, both of Wilmington, Delaware, and its subsidiary savings association, Wilmington Trust FSB, Baltimore, Maryland. The Board also approved the applications by Manufacturers and Traders Trust Company, Buffalo, a state member bank, to acquire certain assets and assume certain liabilities of Wilmington Trust Company and Wilmington Trust FSB, pursuant to section 18(c) of the Federal Deposit Insurance Act, and to operate branches at the existing branch locations of Wilmington Trust Company and Wilmington Trust FSB, pursuant to section 9 of the Federal Reserve Act.
Attached is the Board's Order relating to this action.