Meet Delaware’s new M&T Bank president

M&T’s acquisition of Wilmington Trust Bank more than a decade ago led it to become the largest bank in Delaware going by number of branches and ATMs in the state — which is currently 66.

With such a presence, the Delaware region has its own president, who was Nick Lambrow up until his retirement last month. Under Lambrow’s leadership, M&T focused on DEI and antiracism efforts even before the George Floyd protests of 2020. The bank also partnered with Magnusmode to create a product that would make its services accessible for people with cognitive disabilities and invested in La Plaza Delaware to offer multilingual services, including a business development program in Sussex County.

Longtime Delaware business leader Mark Hutton — who serves on the boards of the Delaware State Chamber of Commerce, Delaware State University School of Business and The Children’s Beach House — began his role as the new Delaware regional president earlier this month.

Hutton opened the state’s first M&T office in 2008 and worked from the ground up to build a portfolio, assemble a team and show the state what the midsize bank from up north was all about — all of which eventually led to the opportunity to acquire Wilmington Trust in 2011.

“Since that time, I’ve been leading our commercial banking business in the Delaware region, and talking with my predecessor Nick Lambrow to prepare for the opportunity that might come my way when he decided to step aside,” Hutton told Technical.ly. “So it’s been 15 years preparing for this role.”

First and foremost, Hutton says, he plans to continue M&T’s key initiatives in the state, like supporting small businesses and investing in the technology sector in Wilmington.

“Things like startups and workforce development are always very top of mind for us,” Hutton said. “We think that small and medium businesses, including startups, are very critical to the success of Delaware’s economy moving forward. And we have a specifically designed suite of products that are available to support those companies including SBA loans where we’re a lender in the state. We think if we can encourage others to follow our lead and invest in bringing talent here, it raises the bar for the entire infrastructure we’re hoping to build in Delaware.”