M&T in New York, which is seeking regulatory approval to buy People’s United Financial, recently disclosed plans for around 1,000 layoffs. The backlash focused on job cuts in the seller’s hometown of Bridgeport has been stronger than in other recent deals.
M&T Bank Customers Secure Nearly $10 Billion in Paycheck Protection Program Funding
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BUFFALO, N.Y., May 24, 2021 /PRNewswire/ M&T Bank Corporation ( M&T ) (NYSE: MTB), the nation s fifth largest Small Business Administration (SBA) lender in fiscal year 2020, today announced more than 58,000 of its business customers received approval for a total of about $9.8 billion in funding through the Paycheck Protection Program (PPP), which has now closed to most new applicants. M&T has disbursed nearly all of the approved funding to these companies, which employ more than 850,000 people across the bank s eight-state footprint.