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Share Name | Share Symbol | Market | Type |
---|---|---|---|
M and T Bank Corporation | NYSE:MTB | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.62 | 0.42% | 146.89 | 148.77 | 146.76 | 147.75 | 268,558 | 19:57:33 |
BUFFALO, N.Y., Feb. 6, 2018 /PRNewswire/ -- M&T Bank and the Federal Home Loan Bank of New York announced today the awarding of $11.5 million in grants to community-based organizations in nine different cities through the FHLB-NY's Affordable Housing Program.
The grants will help fund projects in: Buffalo, N.Y.; Albany, N.Y.; Trenton, N.J.; Asbury Park, N.J.; Cherry Hill, N.J.; Newark, N.J.; Altoona, Pa.; Claymont, Del.; and Frederica, Del.
Organizations seeking funding through the FHLB's Affordable Housing Program must submit an application sponsored by one of the FHLB-NY member banks.
"The success of our bank is directly related to the success of the communities we serve and every community needs safe and affordable housing for its citizens. We appreciate the support of our colleagues at the Federal Home Loan Bank of New York in approving these grant applications that M&T Bank sponsored for these organizations in our communities," said Brad Dossinger Group Vice President of Community Reinvestment at M&T Bank.
Grants approved included:
The Federal Home Loan Bank System's Affordable Housing Program, created by Congress in 1989, provides member community lenders with direct subsidies, which are passed on to qualified households through a sponsoring local non-profit organization. AHP financing is combined with other funding sources to create housing for moderate-, low- and very-low-income families. Program awardees receive this funding through semi-annual competitive rounds. Each competing project must be sponsored by a financial organization that is a member of the Federal Home Loan Bank in partnership with a community-based sponsoring organization.
These grants announced today were part of the annual competitive round completed in the fourth quarter of 2017.
About M&T Bank:
M&T Bank Corporation (NYSE: MTB)("M&T") is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia. Trust-related services are provided by M&T's Wilmington Trust-affiliated companies and by M&T Bank.
View original content with multimedia:http://www.prnewswire.com/news-releases/community-organizations-access-115-million-in-federal-home-loan-bank-of-new-york-grants-sponsored-by-mt-bank-300594210.html
SOURCE M&T Bank
Copyright 2018 PR Newswire
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