Ambitious expansion plans
Over time, M&T has grown steadily by its acquisitions. The bank has bought other institutions on an almost yearly basis since 2000, scooping up branches to extend its reach. In its constant search for growth, M&T Bank Corporation (NYSE:MTB) has also been increasing its mortgage-servicing business, acquiring from Bank of America Corp (NYSE:BAC) one of its loan servicing centers in New York state, assuming the lease on the building in addition to taking on the servicing of the loans formerly tended by B of A. The closing of the transaction with Hudson City Bancorp, Inc. (NASDAQ:HCBK) will add even more loans to its servicing base.
Now that this hurdle has been overcome, it should be only a matter of time until the deal is done. Investors have been showing their support, and both banks have seen a nice lift to their share prices since this news broke. Finally, it looks like loyal investors of both banks can expect a resolution very soon.
The article M&T and Hudson City Bancorp Union Could Be Right Around the Corner originally appeared on Fool.com.
Fool contributor Amanda Alix has no position in any stocks mentioned. The Motley Fool recommends Bank of America. The Motley Fool owns shares of Bank of America.
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