M&T Increases Prime Rate

Rhea-AI Summary

M&T Bank Corporation announced an increase in its prime lending rate from 4.75% to 5.50%, effective July 28, 2022. This adjustment reflects changes in market conditions and the Federal Reserve's monetary policy. Operating primarily in the eastern U.S., M&T Bank serves clients across 12 states and Washington, D.C., providing various banking products and services. For further details, visit www.mtb.com.

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• Increase in prime lending rate from 4.75% to 5.50% may lead to increased interest income.

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• None.

BUFFALO, N.Y., July 27, 2022 /PRNewswire/ -- Effective Thursday, July 28, 2022, M&T (NYSE:MTB) will increase its prime lending rate from 4.75% to 5.50%.

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 in 12 states across 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 on M&T Bank, visit www.mtb.com. 

Media Contact
Julia Berchou
716-842-5385
jberchou@mtb.com 

© 2022 M&T Bank. Member FDIC.

 

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SOURCE M&T Bank Corporation

FAQ

What is the current prime lending rate for M&T Bank as of July 2022?

The prime lending rate for M&T Bank increased to 5.50% effective July 28, 2022.

How does M&T Bank's prime lending rate change affect customers?

An increase in the prime lending rate can lead to higher borrowing costs for customers.

Why did M&T Bank increase its prime lending rate in July 2022?

The increase in the prime lending rate reflects changes in market conditions and Federal Reserve monetary policy.