, like other lenders, had closed branches in older city neighborhoods over the last 20 years as consumers and big businesses began banking digitally.
As part of that larger strategy, the bank increased its commitment in Southwest Philly after its Woodland Avenue branch was gutted following local“They destroyed it; we were shut down for three weeks,” recalled Preston Stackfield, the former branch manager. M&T responded with 30 volunteers to clean up the mess. They also put rose bushes in vacant planters along the avenue. And sent contractors to replace the vandalized equipment.
Some hopeful signs have emerged: Deposits at the little M&T branch nearly doubled, to $8 million, though bankers said they couldn’t yet track as strong an increase in loans. Many small businesses struggle to establish credit.
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