M&T Bank announced it has planned to open a 1,726-square-foot branch in Paterson.
Construction work will begin this fall to convert a former retail space in Paterson’s commercial corridor by the corner of Main Street and College Boulevard.
"We're thrilled to add our new branch to the multitude of other economic investments taking place in Paterson," said M&T Bank Regional President for New Jersey Tom Comiskey. "Paterson is home to one of New Jersey's most diverse communities, and we are excited for the opportunity to serve its residents and small businesses with our community-focused approach to doing business."
Tifani Borel, according to M&T, will lead the new team in Paterson as its branch manager. She currently serves as manager of the M&T Bank branch in Newark on 7th Avenue.
"Our team is excited to become part of the Paterson community. The new branch offers an opportunity for our team to serve both M&T's existing consumer and small business customers, while opening new relationships with individuals and small businesses based in the neighborhood," Noel Carroll, senior vice president of retail banking in New Jersey, said.
M&T currently operates more than 90 branches throughout New Jersey.
The new location at 162 Main St. is slated to be open by spring 2018.