{"id":515009,"date":"2021-07-20T08:18:11","date_gmt":"2021-07-20T12:18:11","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/mt-bank-again-earns-outstanding-rating-on-community-reinvestment-act-exam\/"},"modified":"2021-07-20T08:18:11","modified_gmt":"2021-07-20T12:18:11","slug":"mt-bank-again-earns-outstanding-rating-on-community-reinvestment-act-exam","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/mt-bank-again-earns-outstanding-rating-on-community-reinvestment-act-exam\/","title":{"rendered":"M&amp;T Bank Again Earns &#8216;Outstanding&#8217; Rating On Community Reinvestment Act Exam"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">Bank&#8217;s streak spans more than two dozen acquisitions, dates to 1982<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">BUFFALO, N.Y.<\/span>, <span class=\"xn-chron\">July 20, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0M&amp;T Bank (NYSE: MTB) has again received an &#8220;Outstanding&#8221; Community Reinvestment Act (CRA) rating from the Federal Reserve Bank of <span class=\"xn-location\">New York<\/span> \u2013 a streak of earning the regulatory agency&#8217;s highest rating for meeting the credit needs of the bank&#8217;s communities that dates to 1982.<\/p>\n<p>The latest exam results reflect the bank&#8217;s community development performance between <span class=\"xn-chron\">Oct. 1, 2014<\/span>, and <span class=\"xn-chron\">Dec. 31, 2019<\/span>, and its home mortgage and small business lending performance between <span class=\"xn-chron\">Jan. 1, 2014<\/span> and <span class=\"xn-chron\">Dec. 31, 2018<\/span>. It evaluated the bank&#8217;s performance in 50 different assessment areas in 10 states \u2013 <span class=\"xn-location\">Connecticut<\/span>, <span class=\"xn-location\">Delaware<\/span>, <span class=\"xn-location\">Florida<\/span>, <span class=\"xn-location\">Maryland<\/span>, <span class=\"xn-location\">Massachusetts<\/span>, <span class=\"xn-location\">New Jersey<\/span>, <span class=\"xn-location\">New York<\/span>, <span class=\"xn-location\">Pennsylvania<\/span>, <span class=\"xn-location\">Virginia<\/span> and <span class=\"xn-location\">West Virginia<\/span>.<\/p>\n<p>The exam recognized M&amp;T as &#8220;a leader in making community development loans&#8221; during the review period, and said the bank was &#8220;responsive to community needs&#8221; and &#8220;met the needs of its assessment areas.&#8221; The streak of &#8220;Outstanding&#8221; ratings underscores M&amp;T&#8217;s unwavering commitment to the communities it serves \u2013 even as the bank has grown organically and through 25 acquisitions to serve much of the mid-Atlantic and Northeast.<\/p>\n<p>&#8220;We strongly believe M&amp;T Bank is a bank for all communities, and this latest recognition of our outstanding CRA performance is validation of the hard work our employees put into serving those communities every day,&#8221; said <span class=\"xn-person\">Rene Jones<\/span>, M&amp;T Bank Chairman and CEO. &#8220;As we prepare for expansion into new communities in the years ahead, we will remain committed to providing the same outstanding level of service, investment and opportunity to individuals in all communities we serve.&#8221; <\/p>\n<p>In the latest CRA exam report, the Federal Reserve noted M&amp;T&#8217;s performance in the following areas:<\/p>\n<ul type=\"disc\">\n<li>Extensive use of innovative or flexible products that served to enhance the level of lending in low-to-moderate income (LMI) geographies and to LMI borrowers; <\/li>\n<li>Significant use of innovative and\/or complex investments to support community development initiatives; <\/li>\n<li>Excellent level of qualified community development investments and grants, particularly those not routinely provided by private investors, often in a leadership position; <\/li>\n<li>Excellent responsiveness to credit and community development needs; and, <\/li>\n<li>Delivery systems were readily accessible to the bank&#8217;s geographies and individuals of different income levels in its assessment areas. <\/li>\n<\/ul>\n<p>&#8220;We are extremely proud to once again achieve the highest possible rating for our CRA performance,&#8221; said <span class=\"xn-person\">Brad Dossinger<\/span>, M&amp;T Bank corporate CRA officer. &#8220;The vitality of all communities we serve has always been our focus, and we will continue to develop and support programs and initiatives that bolster small businesses, community development, access to affordable housing and financial education for all.&#8221;<\/p>\n<p>A few of the programs and initiatives available to LMI geographies and LMI borrowers that were highlighted in the bank&#8217;s latest CRA report include:<\/p>\n<ul type=\"disc\">\n<li>In <span class=\"xn-chron\">June 2018<\/span>, M&amp;T introduced a business credit card with credit limits as low as <span class=\"xn-money\">$2,000<\/span> available to nonprofit organizations, which generally target services to LMI individuals. The card has no annual fee and a 12-month introductory interest rate of 0 percent. <\/li>\n<li>In <span class=\"xn-chron\">September 2019<\/span>, M&amp;T launched its &#8220;Home Starter&#8221; loan program designed for borrowers purchasing a home in a specified LMI census tract or whose income was at or below 80 percent of the U.S. Department of Housing and Urban Development (HUD) median area income. There are no restrictions for loans in those designated tracts, and refinancing is permitted. The product offers a competitive interest rate, 3 percent down payment, no borrower paid mortgage insurance premium and the ability to finance most closing costs.<\/li>\n<\/ul>\n<p>The CRA exam report also recognized M&amp;T&#8217;s commitment to charitable giving throughout its footprint. Annually, the bank contributes about <span class=\"xn-money\">$35 million<\/span> to many different nonprofit partners assisting underserved individuals and communities. For more information about M&amp;T&#8217;s commitment to its communities, review the bank&#8217;s inaugural <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3232928-1&amp;h=3743931085&amp;u=https%3A%2F%2Fwww3.mtb.com%2Fcontent%2Fdam%2Fmtb-web%2Fpdfs%2F2020-esg-report.pdf&amp;a=Environmental%2C+Social%2C+and+Governance+(ESG)+report\" rel=\"nofollow noopener\">Environmental, Social, and Governance (ESG) report<\/a> released earlier this year.<\/p>\n<p>The Community Reinvestment Act of 1977 was enacted by Congress to encourage financial institutions to meet the credit needs of the communities in which they operate, especially low-to-moderate income neighborhoods.<\/p>\n<p>The CRA exam measures a number of factors, including the depth of a bank&#8217;s community development lending, the distribution of small business and home mortgage loans in communities served by the bank, the availability of bank branches and services in LMI neighborhoods and the bank&#8217;s commitment to offering &#8220;community development services.&#8221;<\/p>\n<p>The bank&#8217;s CRA performance was reviewed using the Federal Financial Institutions Examination Council&#8217;s interagency CRA procedures for large institutions, which consists of a lending test, investment test and service test.<\/p>\n<p>\n        <b>About M&amp;T Bank<br \/><\/b>M&amp;T Bank Corporation is a financial holding company headquartered in <span class=\"xn-location\">Buffalo, New York<\/span>. M&amp;T&#8217;s principal banking subsidiary, M&amp;T Bank, operates banking offices in <span class=\"xn-location\">New York<\/span>, <span class=\"xn-location\">Maryland<\/span>, <span class=\"xn-location\">New Jersey<\/span>, <span class=\"xn-location\">Pennsylvania<\/span>, <span class=\"xn-location\">Delaware<\/span>, <span class=\"xn-location\">Connecticut<\/span>, <span class=\"xn-location\">Virginia<\/span>, <span class=\"xn-location\">West Virginia<\/span>, and the <span class=\"xn-location\">District of Columbia<\/span>. Trust-related services are provided by M&amp;T&#8217;s Wilmington Trust-affiliated companies and by M&amp;T Bank. <\/p>\n<p>\n        <i>Media Contacts<\/i>: <\/p>\n<p>\n        <span class=\"xn-location\">New York<\/span> (excluding <span class=\"xn-location\">NYC<\/span>):<br \/><span class=\"xn-person\">Julia Berchou<\/span><br \/>(716) 842-5385<br \/><a target=\"_blank\" href=\"mailto:jberchou@mtb.com\" rel=\"nofollow noopener\">jberchou@mtb.com<\/a><\/p>\n<p>\n        <span class=\"xn-location\">Delaware<\/span>, <span class=\"xn-location\">Maryland<\/span>, <span class=\"xn-location\">Pennsylvania<\/span>, <span class=\"xn-location\">Virginia<\/span> and <span class=\"xn-location\">Washington, DC<\/span>:<br \/><span class=\"xn-person\">Scott Graham<\/span><br \/>(410) 244-4097<br \/><a target=\"_blank\" href=\"mailto:sgraham1@mtb.com\" rel=\"nofollow noopener\">sgraham1@mtb.com<\/a><\/p>\n<p>\n        <span class=\"xn-location\">New Jersey<\/span>, <span class=\"xn-location\">Connecticut<\/span> and <span class=\"xn-location\">New York City<\/span>:<br \/><span class=\"xn-person\">David Samberg<\/span><br \/>(201) 368-4515<br \/><a target=\"_blank\" href=\"mailto:dsamberg@mtb.com\" rel=\"nofollow noopener\">dsamberg@mtb.com<\/a><\/p>\n<p>National Media and Trade Publications:<br \/><span class=\"xn-person\">Maya Dillon<\/span><br \/>(212) 415-0557<br \/><a target=\"_blank\" href=\"mailto:MDILLON@WilmingtonTrust.com\" rel=\"nofollow noopener\">MDILLON@WilmingtonTrust.com<\/a><\/p>\n<p>\n        <i>Information may contain forward-looking statements regarding M&amp;T Bank Corporation (&#8220;M&amp;T&#8221;) within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that do\u00a0not describe historical or current facts are forward-looking statements, including statements regarding M&amp;T&#8217;s expectations or\u00a0predictions of future financial or business performance or conditions as well as statements regarding the potential effects of\u00a0the COVID-19 pandemic on M&amp;T&#8217;s business, financial condition, liquidity and results of operations.<\/i>\n      <\/p>\n<p>\u00a9 <span class=\"xn-money\">2021 M<\/span>&amp;T Bank. Member FDIC. Equal Housing Lender. NMLS ID # 381076<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder7524\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/458266\/M_and_T_Bank_Corporation_Logo.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/458266\/M_and_T_Bank_Corporation_Logo.jpg\" title=\"M&amp;T Bank Corporation\" alt=\"M&amp;T Bank Corporation\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder0\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY48217&amp;sd=2021-07-20\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/mt-bank-again-earns-outstanding-rating-on-community-reinvestment-act-exam-301337165.html\">https:\/\/www.prnewswire.com\/news-releases\/mt-bank-again-earns-outstanding-rating-on-community-reinvestment-act-exam-301337165.html<\/a><\/p>\n<p>SOURCE  M&amp;T Bank<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NY48217&amp;Transmission_Id=202107200815PR_NEWS_USPR_____NY48217&amp;DateId=20210720\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bank&#8217;s streak spans more than two dozen acquisitions, dates to 1982 PR Newswire BUFFALO, N.Y., July 20, 2021 \/PRNewswire\/ &#8212;\u00a0M&amp;T Bank (NYSE: MTB) has again received an &#8220;Outstanding&#8221; Community Reinvestment Act (CRA) rating from the Federal Reserve Bank of New York \u2013 a streak of earning the regulatory agency&#8217;s highest rating for meeting the credit needs of the bank&#8217;s communities that dates to 1982. The latest exam results reflect the bank&#8217;s community development performance between Oct. 1, 2014, and Dec. 31, 2019, and its home mortgage and small business lending performance between Jan. 1, 2014 and Dec. 31, 2018. It evaluated the bank&#8217;s performance in 50 different assessment areas in 10 states \u2013 Connecticut, Delaware, Florida, Maryland, Massachusetts, New Jersey, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/mt-bank-again-earns-outstanding-rating-on-community-reinvestment-act-exam\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;M&amp;T Bank Again Earns &#8216;Outstanding&#8217; Rating On Community Reinvestment Act Exam&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-515009","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>M&amp;T Bank Again Earns &#039;Outstanding&#039; Rating On Community Reinvestment Act Exam - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/mt-bank-again-earns-outstanding-rating-on-community-reinvestment-act-exam\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"M&amp;T Bank Again Earns &#039;Outstanding&#039; Rating On Community Reinvestment Act Exam - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Bank&#8217;s streak spans more than two dozen acquisitions, dates to 1982 PR Newswire BUFFALO, N.Y., July 20, 2021 \/PRNewswire\/ &#8212;\u00a0M&amp;T Bank (NYSE: MTB) has again received an &#8220;Outstanding&#8221; Community Reinvestment Act (CRA) rating from the Federal Reserve Bank of New York \u2013 a streak of earning the regulatory agency&#8217;s highest rating for meeting the credit needs of the bank&#8217;s communities that dates to 1982. The latest exam results reflect the bank&#8217;s community development performance between Oct. 1, 2014, and Dec. 31, 2019, and its home mortgage and small business lending performance between Jan. 1, 2014 and Dec. 31, 2018. It evaluated the bank&#8217;s performance in 50 different assessment areas in 10 states \u2013 Connecticut, Delaware, Florida, Maryland, Massachusetts, New Jersey, &hellip; Continue reading &quot;M&amp;T Bank Again Earns &#8216;Outstanding&#8217; Rating On Community Reinvestment Act Exam&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/mt-bank-again-earns-outstanding-rating-on-community-reinvestment-act-exam\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-20T12:18:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/458266\/M_and_T_Bank_Corporation_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mt-bank-again-earns-outstanding-rating-on-community-reinvestment-act-exam\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mt-bank-again-earns-outstanding-rating-on-community-reinvestment-act-exam\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"M&amp;T Bank Again Earns &#8216;Outstanding&#8217; 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Community Reinvestment Act (CRA) rating from the Federal Reserve Bank of New York \u2013 a streak of earning the regulatory agency&#8217;s highest rating for meeting the credit needs of the bank&#8217;s communities that dates to 1982. The latest exam results reflect the bank&#8217;s community development performance between Oct. 1, 2014, and Dec. 31, 2019, and its home mortgage and small business lending performance between Jan. 1, 2014 and Dec. 31, 2018. It evaluated the bank&#8217;s performance in 50 different assessment areas in 10 states \u2013 Connecticut, Delaware, Florida, Maryland, Massachusetts, New Jersey, &hellip; Continue reading \"M&amp;T Bank Again Earns &#8216;Outstanding&#8217; Rating On Community Reinvestment Act Exam\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/mt-bank-again-earns-outstanding-rating-on-community-reinvestment-act-exam\/","og_site_name":"Market Newsdesk","article_published_time":"2021-07-20T12:18:11+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/458266\/M_and_T_Bank_Corporation_Logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mt-bank-again-earns-outstanding-rating-on-community-reinvestment-act-exam\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mt-bank-again-earns-outstanding-rating-on-community-reinvestment-act-exam\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"M&amp;T Bank Again Earns &#8216;Outstanding&#8217; 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