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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 and lives in Buffalo.


Business

A Pennsylvania-based bank is taking a stronger interest in Buffalo, but hasn't committed to opening branches in the region. S&T Bank is close to choosing a location for a downtown loan production office. "We've got a short list and we're very close to a place that we kind of like the most," said Pat Tobin, S&T's market president for the upstate New York regio…

Business

Brooks-TLC Hospital System won't build its $67 million hospital in the town of Pomfret after all. Instead, the hospital system has shifted its plans to a site in Fredonia. Hospital system officials said "planning issues and zoning challenges" with the 26-acre Pomfret site led them to look elsewhere. "As we moved through 2018, it became apparent that the Town of Po…

Business

When René F. Jones was a 27-year-old new hire at M&T Bank Corp., he went for lunch in the cafeteria and sat at an empty table. Someone else carrying his own tray walked up and asked, "Is this seat taken?" It was Robert G. Wilmers, the bank's chairman and CEO. Gradually, other employees filled the rest of the seats. Wilmers, as was his nature, peppered Jones with …

Business

The contents of Bak USA's shuttered plant will be auctioned at 10 a.m. on Jan. 26. Cash Realty & Auctions will conduct the auction at 210 Sawyer Ave. in the Town of Tonawanda. The auction will include computer screens, robots, printers and office furniture, among other items. Bak USA, a maker of computer tablets and laptops, closed its Buffalo location in Novembe…

Business

M&T Bank Corp. achieved record-high profits in 2018. The Buffalo-based bank on Thursday reported $1.9 billion in net income in 2018, up 36 percent from $1.4 billion in 2017. M&T finished 2018 on a strong note, with a 69 percent increase in fourth-quarter profits, to $546 million. Its net operating earnings of $3.79 per share easily topped analyst forecasts of…

Business

KeyBank expects to close branches at a faster clip this year. "You'll actually see us step that up this year over last year," said Christopher Gorman, vice chairman and president of banking, in a Thursday conference call. Last year, Key closed 38 branches across its network. "We feel like we're pretty good at it," Gorman said. "As we went through First Niagara and we…

Local News

Gov. Andrew Cuomo's proposed budget includes $50 million in targeted aid to help revitalize parts of Buffalo's East Side. The funding, which would be spread out over three years, would include funds to promote mixed-use development and walkable commercial corridors. The state would also spend money on cultural and historical sites. The proposal offered no details, bu…

Business

Allegiant Air will begin nonstop flights on June 7 between the Niagara Falls International Airport and the Savannah/Hilton Head International Airport in Georgia. The new seasonal service will operate twice weekly. With the additional service, Allegiant will serve four cities from the Niagara Falls airport. Flight dates and times are available at Allegiantair.com. The…

Business

BlueCross BlueShield of Western New York, Catholic Health and Catholic Medical Partners have reached a three-year agreement. Terms of the extension were not disclosed. BlueCross BlueShield said the agreement ensures its members will continue to have access to Catholic Health facilities and Catholic Medical Partners physicians. Catholic Medical Partners consists of ab…

Business

GoBankingRates named KeyBank one of its 10 best national banks of the year. GoBankingRates considered the 72 largest brick-and-mortar banks by asset size, and then took into account factors such as checking account fees, savings interest rates, CD rates and availability of services. Accessibility was measured by geographic presence, mobile banking and 24/7 customer serv…

Business

The Upstate Capital Association of New York named Lindsay Karas Stencel, chief operating officer and fund manager of Launch New York, its early-stage dealmaker of the year. In 2018, Stencel closed on 13 new investments and completed 11 follow-on investments. Stencel joined Launch New York in 2016, after serving as partner and chief legal counsel for an early stage v…

Business

Northwest Bank will relocate its branch on Transit Road in Clarence just up the street from its current location, into a property with a long track record in banking. Northwest will move its branch to 6525 Transit Road, which is about three-tenths of a mile north of its current location at 6409 Transit, near the intersection with Casey Road and Old Post Road. The bank e…

Business

Launch New York's seed fund, which helps startups get off the ground, is coming off a big year. In 2018, the fund invested more than $760,000 in 13 new investments and 11 follow-on investments. Since 2016, the fund invested nearly $1.6 million in 35 companies, 14 of which were in Western New York. Marnie LaVigne, Launch New York's president and CEO, said the fund wil…

Business

Insurance companies used to be able to consider New York state drivers' occupation and level of education when setting auto insurance rates. No longer. State regulators say the practice punished lower-educated workers in lower-paying jobs, without proof that those drivers were a higher risk behind the wheel. The state Department of Financial Services implemented t…

Business

The Buffalo Niagara Partnership has zeroed in on six themes it will advocate for in the coming year. Some of those priorities involve decisions by state lawmakers, and the political landscape in Albany has changed from a year ago. Democrats now control the State Senate, in addition to the Assembly and the governor's office. "We are committed to making sure people in …