M&T Bank Corporation operates as the holding company for M&T Bank that provide commercial and retail banking services to individuals, corporations, and other businesses and institutions. The company's Business Banking segment provides deposits, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides commercial lending and leasing, letters of credit, deposit products, and cash management services to middle-market and large commercial customers. The company's Commercial Real Estate segment offers commercial real estate loans secured by various types of multifamily residential and commercial real estate properties, as well as and deposit services. Its Discretionary Portfolio segment operations include investment and trading securities, and residential mortgage loans; short-term and long-term borrowed funds; brokered certificates of deposit and interest rate swap agreements; and Cayman Islands office deposits, as well as foreign exchange services. The company's Residential Mortgage Banking segment provides residential mortgage loans and sells those loans in the secondary market. This segment also purchases servicing rights to loans originated by other entities, as well as originates loans to developers of residential real estate properties. Its Retail Banking segment provides demand, savings, and time accounts; consumer installment loans, automobile loans, home equity loans and lines of credit, and credit cards; mutual funds and annuities; and other services. The company offers its products and services through banking office, business banking centers, telephone banking, Internet banking, and automated teller machines (ATMs). As of March 6, 2013, it operated approximately 727 branches and 2,000 ATMs located in New York, Maryland, Pennsylvania, Washington, District of Columbia, Virginia, West Virginia, and Delaware. The company was founded in 1856 and is headquartered in Buffalo, New York.