Updates to M&T's Affordable Housing
Platform Reinforce Bank's Commitment to its Clients and
Communities
NEW
YORK, Aug. 12, 2024 /PRNewswire/ -- M&T
Bank (NYSE: MTB) today announced that it has appointed
Lopa Kolluri as Head of Affordable
Housing Lending. In this new role, Kolluri is responsible for the
development, oversight, and day-to-day management of the Affordable
Housing vertical within M&T's Commercial Bank. Kolluri will
execute M&T's affordable housing business strategy and
establish operational processes and governance structures to ensure
the efficient delivery of first-rate customer service to its
affordable housing clients. In addition, she will continue to
strengthen the M&T's existing affordable housing relationships
while establishing new regional and national customers to generate
additional business opportunities.
"It is an exciting time at M&T Bank as we continue to expand
our work in the affordable housing space, leveraging Lopa's deep
expertise in the public and private sectors," said Timothy Gallagher, M&T Bank's Head of
Commercial Real Estate. "This is a substantial opportunity to build
upon our already strong capabilities and it further complements
M&T's forward-thinking approach to supporting clients."
"I'm looking forward to building out our affordable housing
vertical," said Kolluri. "At M&T Bank, we recognize the need
for affordable housing across our footprint. As a trusted advisor,
we provide the full range of affordable housing financing solutions
to meet the evolving needs of our clients and create meaningful
impact in our communities."
Previously, Kolluri was Senior Vice President within M&T's
Commercial Real Estate (CRE) Innovation Office, where she led
strategy for the bank's CRE transformation initiatives. Kolluri
brings over 25 years of experience in affordable housing and
community and economic development and has extensive knowledge
and experience in executive-level management of housing finance
policy, operations, and transactions.
Before joining M&T, Kolluri was with the U.S. Department of
Housing and Urban Development (HUD) where she served as the head of
the Federal Housing Administration (FHA) overseeing $1.2 trillion in insured mortgages and leading
2,800 employees. She also oversaw HUD's Office of Housing which
includes the Offices of Manufactured Housing, Multifamily Housing,
and Housing Counseling.
Kolluri's work will also closely engage with divisions of
M&T's Community Bank and M&T Realty Capital Corporation's
Affordable Housing Platform. She will report directly to
Tim Gallagher and will be based in
New York City.
For more information on M&T Bank, please visit www.mtb.com.
About M&T
M&T Bank Corporation is a financial holding company
headquartered in Buffalo, New
York. M&T's principal banking subsidiary, M&T Bank,
provides banking products and services in 12 states across the
northeastern U.S. from Maine to
Virginia and Washington, D.C. Trust-related services are
provided in select markets in the U.S. and abroad by M&T's
Wilmington Trust-affiliated companies and by M&T Bank.
© 2024 M&T Bank. Member FDIC.
NMLS# 381076 Equal Housing Lender.
Investor Contact:
Brian
Klock
(716) 842-5138
Media Contact:
Frank Lentini
(929) 651-0447
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SOURCE M&T Bank Corporation