M&T Bank

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by: Jessica Lewis

With a new name and a new look, M&T Bank (formerly Partners Trust) may look a little different, but one thing that hasn’t changed is a devotion to customer service that goes above and beyond the call of duty.

With one part-time and six full-time employees, the majority of whom have been with the bank for at least eight years, the staff at M&T pride themselves on a friendly atmosphere and a willingness to help the customer. According to Bank Manager Terri Slater, the staff has to be credited for how well they treat their clients. “How well you treat your customers is really the only thing that differentiates a bank,” she said. “We have a long-term staff of local people here. Customer service is huge.”

Assistant Manager Kimberly Walker is quick to agree. “We do everything to try to keep up with the hometown bank. We try to offer more of a personal touch.”

One of the ways M&T strives to serve customers is by making itself accessible. By merging the previous bank with the new one, the bank went from 33 branches to 750, but even more than that, Slater explained that if a person is not able to come into the bank to fill out a loan application and doesn’t wish to exchange the information over the phone, the bank will send a representative to a customer’s home.

Slater said the merger has caused only a few changes so far. “Banking is banking,” she said. “There have been some little changes, but we’re working out the issues, and it’s business as usual with a wider variety of products and services.”

With 750 banking locations and $57 billion in assets, as of Dec. 31, 2006, M&T is one of the 20 largest commercial bank holding companies in the U.S. According to Slater and Walker, that means it is able to offer a lot more products and services to its customers, especially in the business development lending area. “We had more (business development) applications in December than we did all year,” Slater said.

“Business development is going to be one of the highlights for 2008,” Walker explained. According to Walker, 2007 was a record year for the former Partners Trust location. “We hit every target we set on the consumer and business side,” she said.

Other focus areas for 2008 will include Small Business Association (SBA) loans. Since merging, the Norwich bank is now able to offer express lending, a process which reduces the approval time from six weeks to one. “Because of the size of M&T Bank, we’re able to do more things like that,” Slater said. In addition, Slater said that being “part of a larger network gives the bank increased options for lending. We’re able to do a lot more and we’re not restricted as much.”

The change also allowed M&T to offer a full investment service department, something that was lost when the bank became Partners Trust. The entire desk staff is working to become certified as investment specialists.

Slater explained that by merging with M&T, the bank will be cutting down on competition, including some that it was unaware it even had. Slater explained that M&T Bank Mortgage Consultant Betty Coutlee had been working to secure mortgage loans for area residents for years, and that 30 percent of her business took place in the Norwich area. Slater explained that gaining a partner with so much experience is an asset to the bank, since Coutlee will be referring new checking and savings accounts to the bank.

“Our goal is to partner with the different divisions. We’re going to see a lot of joint efforts,” Slater said.

Following the close of one record setting year, staff at the new M&T bank location hopes to continue the success. “We’re hoping to see another record year,” Slater said. “M&T brings us a lot of strength and stability.” Slater explained that in the short time since Partners Trust switched over to M&T, the bank has already begun to see new people. “The name itself is helping. It’s a bank that people are familiar with,” Slater said.

Attracting new customers is always an issue, especially in an area where few new people are arriving. However, Slater and Walker explained that during the merger the bank had actually seen some growth, which they say is very hard to do. “Anytime you have growth during a merger, that’s definitely a good sign,” Slater said.

Initial changes, including a change in the chain of command and different avenues for finding answers proved somewhat difficult for bank employees at first, but Walker said, “We’ve gotten over the hurdles, and we’re seeing fewer and fewer negative comments.”

Slater said she is excited about the increased choices she is now able to offer to M&T Bank customers. “We’re here to help. We’re here for the customers, to help them with whatever financial transactions they need. We want the opportunity to meet people and talk to them about what those needs are,” Slater said. She explained that the bank’s motto says it all. “The best place our employees will ever work, the best bank our customers will ever do business with and the best investment our shareholders will ever make.”

M&T Bank is located in Norwich’s North Plaza. For more information call the bank at 334-5802.

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