---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-094296"
form_type: "8-K"
ticker: "MTB"
cik: "0000036270"
company_name: "M&T BANK CORP"
filed_at: "2022-04-04T23:59:59+00:00"
generated_at: "2026-06-26T09:55:42.325240+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# M&T completes $8.3B acquisition of People's United, creating $200B bank

## Summary
- Deal valued at $8.3B; each PBCT share converted into 0.118 MTB share.
- Combined company has $200B in assets, 22,000 employees, 1,000+ branches across 12 states and D.C.
- M&T assumed $75M 5.75% sub notes due 2024, $500M 3.65% senior notes due 2022, and $400M 4.00% sub notes due 2024.
- Four People's United directors elected to M&T board: John Barnes, Kirk Walters, Jane Chwick, William Cruger.
- Non-compete payments of $18M to John Barnes and $6M to Kirk Walters made effective April 1, 2022.

## SEC filing metadata
- accession: 0001193125-22-094296
- form_type: 8-K
- ticker: MTB
- cik: 0000036270
- company_name: M&T BANK CORP
- filed_at: 2022-04-04T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.01, 2.03, 3.03, 5.02, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/36270/000119312522094296/0001193125-22-094296-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/36270/000119312522094296/d349120d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-094296
- JSON: https://secwatch.observer/filing/0001193125-22-094296.json
- Plain text: https://secwatch.observer/filing/0001193125-22-094296.txt

## Key facts
- Executive change
  John P. Barnes was elected as Director at M&T BANK CORP.
  - Action: elected
  - Role: Director
  source text: the Board of Directors of M&T (the “Board”) elected to the Board John P. Barnes, the Chief Executive Officer and Chairman of the Board of People’s United immediately prior to Effective Time
  evidence_url: https://www.sec.gov/Archives/edgar/data/36270/000119312522094296/0001193125-22-094296-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.