M&A Deal Summary

M&T Bank Acquires Allfirst Financial

On April 1, 2003, M&T Bank acquired financial services company Allfirst Financial from Allied Irish Banks for 886M USD

Acquisition Highlights
  • This is M&T Bank’s 5th transaction in the Financial Services sector.
  • This is M&T Bank’s 3rd largest (disclosed) transaction.
  • This is M&T Bank’s 5th transaction in the United States.
  • This is M&T Bank’s 1st transaction in Maryland.

M&A Deal Summary
Date 2003-04-01
Target Allfirst Financial
Sector Financial Services
Buyer(s) M&T Bank
Sellers(s) Allied Irish Banks
Deal Type Divestiture
Deal Value 886M USD

Target

Allfirst Financial

Baltimore, Maryland, United States
Allfirst Financial, Inc. is a financial services provider.

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Buyer(S) 1

Buyer

M&T Bank

Buffalo, New York, United States
Category Company
Founded 1856
Sector Financial Services
Employees21,927
Revenue 9.4B USD (2023)
DESCRIPTION

M&T Bank is a financial holding company. M&T's principal banking subsidiary, M&T Bank, operates banking offices in New York, Pennsylvania, Maryland, Virginia, West Virginia, Delaware and the District of Columbia. Trust-related services are provided by M&T's Wilmington Trust-affiliated companies and by M&T Bank. M&T Bank was founded in 1856 and is based in Buffalo, New York.

DEAL STATS #
Overall 5 of 16
Sector (Financial Services) 5 of 13
Type (Divestiture) 1 of 3
State (Maryland) 1 of 2
Country (United States) 5 of 16
Year (2003) 1 of 1
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-02-10 Premier National Bancorp

Lagrangeville, New York, United States

Premier National Bancorp, Inc., a financial service provider.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-05 Citibank - 21 Upstate New York Branches

United States

21 Upstate New York branches provides banking services. Nine of the branches are located in the Buffalo area and twelve are in Rochester.

Buy -

Seller(S) 1

SELLER

Allied Irish Banks

Ballsbridge, Ireland
Category Company
Sector Financial Services
DESCRIPTION

AIB recognises that it has a critical role to play in actively supporting the government's programme of economic recovery and job creation. With that in mind we want our entrepreneurs, early start-ups and SMEs across Ireland

DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 2
Type (Divestiture) 1 of 2
State (Maryland) 1 of 1
Country (United States) 1 of 1
Year (2003) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-30 Allied Irish Banks Canadian Operation

Canada

Allied Irish Banks, Canadian Operation, comprises a loan portfolio with the face value of approximately 650 million dollars and outstanding value of 500 million dollars.

Sell -
Mergr

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