M&T to Repay Millions in Federal Funds

4:30 PM, May 18, 2011   |    comments
One M&T Plaza in Buffalo, NY
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BUFFALO, N.Y. - M&T Bank says it has now repayed more than $700 million funds it received through the federal government.

The bank repurchased millions in shares from the Treasury that were issued in the Troubled Asset Relief Program (TARP) that was started to help banks and financial institutions affected by the forclosure crisis in late 2008.

$330 million of the funds that were returned M&T received through its recent purchase of Wilmington Trust bank based out of Delaware.

The Treasury still holds $381.5 million in M&T shares.


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