FISHKILL, N.Y., March 30, 2011 -- M&T Bank has launched a $10 million investment initiative in the Hudson Valley designed to grow the bank's operations and improve service.
The largest components of the initiative are a new branch planned in Newburgh and the installation of a local operations center, processing checks and other transactions, at M&T's regional headquarters in Fishkill.
"We see strong potential for business growth in the Hudson Valley as the U.S. economy rebounds. This region is an ideal location for M&T to invest in expanding our services and growing our market share," said Regional President Michael T. Keegan.
The new branch on 9W in Newburgh will be constructed to Leadership in Energy and Environmental Design standards (LEED) established by the U.S. Green Building Council. LEED is a rating system distinguishing high-performance buildings with less impact on the environment. The branch will operate with energy-efficient lighting, heating, cooling and water systems. The project will begin this year with the demolition of M&T's existing 9W branch.
In addition to the new branch in Newburgh, M&T will make major renovations to branches in Hopewell Junction and Wappingers Falls. Improvements are being made at 28 additional branches in Dutchess, Ulster, Sullivan, Orange and Putnam counties, with the majority of work completed by local contractors. The new operations center, expected to open later this year, will add a small number of new jobs in the region.
"In addition to building the new branch, and renovating most of our other Hudson Valley branches, we will also be upgrading our ATM's to offer enhanced deposit-taking functions at our machines. Our plan is focused on making our services more convenient for customers to deliver a superior customer experience," said Rob Brown, senior vice president and retail banking manager for M&T in the Hudson Valley.
For further information about the initiative, visit our project Web site at www.mtb.com/hudsonvalley.
M&T Bank Corporation, founded in 1856, is one of the top 20 commercial bank holding companies in the nation, with more than $68 billion in assets and more than 725 retail and commercial branch offices in New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia, Washington D.C. and Ontario, Canada.