FREE SUBSCRIPTION Includes: The Advisor Daily eBlast + Exclusive Content + Professional Network Membership: JOIN NOW LOGIN
Skip Navigation LinksHome / Blogs / Read Blog

Print

M&T Acquires Distressed Lenders as Prey Become Predator

August 28, 2012, 07:30 AM
By
Topic: Banking News

Bloomberg reported M&T Bank’s $3.7 billion takeover of Hudson City Bancorp, the largest bank deal announced this year, solidifies the Buffalo, New York-based lender’s status as a hunter instead of the hunted. With Hudson City, M&T probably will rank 14th by assets and 11th by deposits among U.S. commercial banks.

According to the report, M&T has added about $40 billion to both its loan and deposit books since 2008 through at least four acquisitions, according to data compiled by Bloomberg.

The biggest U.S. banks, including JPMorgan Chase, Bank of America, Wells Fargo and Citigroup, have had to step back from buying lenders in the wake of the crisis because of regulations that prohibit them from holding 10% or more of the nation’s deposits, according to the report.

Comments From Our Members

You must be an Equipment Finance Advisor member to post comments. Login or Join Now.