Stock Wars: MT Bank Vs. Webster Financial
Benzinga’s weekly Stock Wars matches up two leaders in a major industry sector with the goal of determining which company is the better investment. This week, the duel is between two financial institutions: MT Bank Corporation (NYSE: MTB ) and Webster Financial Corporation (NYSE: WBS ). The Case For MT: This Buffalo, New York-headquartered bank traces its roots to 1856 when business partners Pascal Pratt and Brownson Rumsey founded Manufacturers and Traders Trust Company in a rented storefront, with a focus on commercial lending. Before reaching its first anniversary in business, the bank outgrew its location and increased its capital by 250%. In 1902, it merged with Merchants Bank of Buffalo , the first in a long series of combinations and acquisitions that continued through last month with the completion of a merger with People’s United Financial Inc. of Bridgeport, Connecticut. Today, MT Bank has a network of more than 1,000 branches and 2,200 ATMs, with a footprint that spans 12 states from Maine to Virginia plus the District of Columbia.
Stock Wars: MT Bank Vs. Webster Financial
Benzinga’s weekly Stock Wars matches up two leaders in a major industry sector with the goal of determining which company is the better investment. This week, the duel is between two financial institutions: MT Bank Corporation (NYSE: MTB ) and Webster Financial Corporation (NYSE: WBS ). The Case For MT: This Buffalo, New York-headquartered bank traces its roots to 1856 when business partners Pascal Pratt and Brownson Rumsey founded Manufacturers and Traders Trust Company in a rented storefront, with a focus on commercial lending. Before reaching its first anniversary in business, the bank outgrew its location and increased its capital by 250%. In 1902, it merged with Merchants Bank of Buffalo , the first in a long series of combinations and acquisitions that continued through last month with the completion of a merger with People’s United Financial Inc. of Bridgeport, Connecticut. Today, MT Bank has a network of more than 1,000 branches and 2,200 ATMs, with a footprint that spans 12 states from Maine to Virginia plus the District of Columbia.