M&T Bank to Fire 520, Hire 282

M&T Bank is completing its buyout of Baltimore, Maryland’s Provident Bankshares, and will cut 520 Provident jobs.

The laid off employees will get first crack at 282 new jobs that M&T is creating as it expands its Buffalo, New York mortgage servicing unit.

Openings include information technology, central operations, finance, mortgage and call center jobs.

M&T Bank was founded in 1856 in western New York, and is today headquartered in Buffalo. The parent company, M&T Bank Corporation, had $65.9 billion in assets as of June, 2008 and is one of the 20 largest bank holding companies in the US, with over 700 branches located in Delaware, Maryland, New York, Pennsylvania, Virginia, West Virginia, and Washington, DC.