M&T Bank Decreases Prime Rate

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Rhea-AI Sentiment

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Rhea-AI Summary

M&T Bank (NYSE: MTB) has announced a decrease in its prime lending rate. The rate will be reduced from 8.00% to 7.75%, effective Friday, November 8, 2024.

Positive

Prime rate reduction of 25 basis points indicates potential lower borrowing costs for customers

Negative

Lower prime rate may reduce interest income and potentially impact profit margins

News Market Reaction 1 Alert

-3.90% News Effect

On the day this news was published, MTB declined 3.90%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

11/07/2024 - 03:56 PM

BUFFALO, N.Y., Nov. 7, 2024 /PRNewswire/ -- Effective Friday, November 8, 2024, M&T Bank Corporation ("M&T") (NYSE: MTB) will decrease its prime lending rate from 8.00% to 7.75%.

About M&T
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services with a branch and ATM network spanning the eastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank. For more information about M&T Bank, visit www.mtb.com.

M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services with a branch and ATM network spanning the eastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank. For more information about M&T Bank, visit www.mtb.com.

Investor Contact:
Brian Klock
(716) 842-5138

Media Contact:
Frank Lentini
(929) 651-0447
flentini@mtb.com