On the Record · M&T Bank
M&T Bank acquisitions, on the record
The businesses M&T Bank bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
People's UnitedWord for word“On April 1, 2022, M&T completed the acquisition of People’s United.” 10-K for 2023 | acquisition | April 1, 2022 | — |
CIT businessWord for word“On April 29, 2023 Wilmington Trust, N.A. sold its CIT business to a private equity firm, resulting in a pre-tax gain of $225 million.” 10-K for 2023 | divestiture | April 29, 2023 | pre-tax gain of $225 million |
MTIAWord for word“On October 31, 2022 M&T Bank sold MTIA, a wholly owned insurance agency subsidiary of M&T Bank to Arthur J. Gallagher & Co. resulting in a pre-tax gain of $136 million.” 10-K for 2023 | divestiture | October 31, 2022 | pre-tax gain of $136 million |
a subsidiary that specialized in institutional servicesWord for word“Other revenues from operations in 2025 increased $94 million from 2024 reflecting a distribution of an earnout payment of $28 million related to the Company's 2023 sale of its CIT business; a $22 million rise in letter of credit and other credit-related fees, reflecting higher line usage and loan syndication fees; gains on the sales of an out-of-footprint loan portfolio totaling $15 million and a subsidiary that specialized in institutional services of $10 million; and a $12 million increase in merchant discount and credit card fees. ” 10-K for 2025 | divestiture | — | $10 million |
| Fiscal year ended | Cash paid for acquisitions (net of cash acquired) | Goodwill from acquisitions |
|---|---|---|
| 2022-12-31 | −$394 million | $3.9 billion |
| 2023-12-31 | $0 | $25 million |
| 2024-12-31 | $0 | — |
Deal filings since 2016
- 2022-04-04 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2022-02-18 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2021-02-25 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2016-01-15 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
Read from M&T Bank’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-18. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.