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Matt Glynn

Matt Glynn has been a business reporter with The Buffalo News since 2000. He is a native of Youngstown, N.Y., and lives in Buffalo.


Business

Drawing on funds supplied by KeyBank, JumpStart Inc. awarded $100,000 to help boost economic development and job growth in upstate New York through the Excelsior Growth Fund and Buffalo-based Westminster Economic Development Initiative, known as WEDI. Last year, the KeyBank Foundation announced a four-year, $24 million commitment to JumpStart, which supports start-ups a…

Business

The president and CEO of Five Star Bank's parent company saw his total compensation increase 14 percent last year, to $1.2 million. Martin K. Birmingham's total compensation was 23 times that of the median total compensation of the rest of Financial Institutions' employees, which was $51,170, according to a regulatory filing. Median indicates half of the Warsaw-based ba…

Local News

Christine Pusateri felt overwhelmed, and it was understandable. She visited her new home in Cheektowaga for the first time on Saturday, but it was no ordinary arrival. She rode in a chauffeured van, escorted down McNaughton Avenue by a Cheektowaga police vehicle and Patriot Guard Riders. The fire department hung an American flag from a ladder truck as dozens of flag-…

Business

Evans Bank hasn't revealed where it will open a downtown branch, but may have dropped a big hint. A legal notice published Thursday points to the Hamburg-based bank seeking permission to open a location on the second floor of the Main Court Building, at 438 Main St., across from Lafayette Square. Evans officials wouldn't confirm if that is the bank's preferred option…

Business

Evans Bancorp's profits rose 5 percent in the first quarter from a year ago, to $3.3 million. The Hamburg-based parent of Evans Bank recorded diluted earnings per share of 68 cents, up from 66 cents a year ago. Evans benefited from loan growth and a lower tax expense stemming from the federal tax overhaul. "This has been a drumbeat of positive performance over a long…

Business

KeyBank has a strong connection to the Buffalo market, and some of it involves the Thruway. In addition to Key's leaders in Buffalo, "we also have very senior people that have chosen to stay in Buffalo that have very senior corporate roles at Key and basically commute between Buffalo and Cleveland," said Christopher Gorman, Key's president of banking. "For us, that's wo…

Business

The Western New York Council on Occupational Safety and Health will observe Workers' Memorial Day on Wednesday with a rally in support of workers at Wendt Corp. in Cheektowaga. Hourly workers at Wendt, a maker of shredding equipment, in June 2017 voted in favor of unionizing but have not yet reached a first contract with their employer. The rally will take place outside…

Business

As workers at Dresser-Rand's plant in Wellsville brace for their plant to shut down within two years, they have approved a deal covering how they will be compensated once their jobs vanish. Dresser-Rand is the largest manufacturer in Allegany County, with about 250 workers represented by the International Association of Machinists and Aerospace Workers Local Lodge 1580.…

Business

The Basil family dealerships have grown into a big operation, selling seven brands of new vehicles as well as used, commercial and fleet vehicles, from Lockport to Fredonia. Now they have created the position of chief operating officer to help run things, and hired an industry veteran, Brad Coon, to fill it. "Our stores, while independently owned, work so closely togeth…

Business

M&T Bank Corp. has agreed to a $2.5 million settlement to resolve a case involving 240 current and former information technology employees, who claimed the bank owed them overtime pay. The complaint was launched in federal court in 2014 by James Schaefer Jr. of Lockport. He worked for M&T from March 2003 to October 2012 as a network computing analyst and then as…

Business

KeyBank is ready to capitalize on the residential mortgage business it picked up from First Niagara Bank, but determined the insurance business it acquired in the same deal wasn't a good fit. Key has added more than 200 mortgage loan officers across its territory over the past year, ramping up a business line that is based here. "We entered 2018 staffed and ready," s…

Business

Developer Paul Iskalo had set aside the seventh floor of the Electric Tower for a tenant that could take all of the space, rather than splitting it up. The historic tower opened in 1912. And Iskalo viewed the seventh floor as "historically significant" as the building itself. The floor was home to the executive offices of the Buffalo General Electric Co., which presided…

Business

Bank on Buffalo's parent company, CNB Financial, reported a 9 percent increase in profits in the first quarter, to $7.1 million. CNB, based in Clearfield, Pa., said its income tax expense in the first quarter dropped $1.3 million, or 54 percent, due to the federal tax overhaul enacted late last year. Joseph Bower, CNB's president and CEO, said deposits and loans grew…

Business

M&T Bank's late chairman and CEO, Robert G. Wilmers, would have been 84 years old on Friday. To honor his commitment to the community, 84 M&T employees will tackle a spring cleaning project Friday afternoon, in the Buffalo Promise Neighborhood on the East Side. M&T said the volunteer activities will include landscaping, light construction, moving furnitur…

Business

M&T Bank has a huge presence inside the Larkin Center of Commerce on Seneca Street. Now, everyone will know it. The bank on Wednesday began installing a 12-foot high, 67-foot wide illuminated sign atop the building. The company performing the work, Rochester-based Premier Sign Systems, expects to finish the job on Saturday, assuming the weather cooperates. M&…