M&T Bank (NYSE: MTB) is launching an online payroll processing service for small businesses through a partnership with Sure Payroll, Inc.
The service is now available throughout M&T’s footprint. It is designed for companies with one to 100 employees.
The service provides a centralized online site for all payroll information and processing, direct deposit and onsite check printing, an employee self-service site for paystubs and tax statements, payroll reports, and more.
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“Being a small business owner is complicated enough — from finding your next client to managing expenses. We’re now offering the simple option of managing payroll processing right through your bank,” Janet Coletti, senior vice president of business banking at M&T, said in a news release.
M&T has more than 700 branch offices in Delaware, Maryland, New York, Pennsylvania, Virginia, West Virginia, and Washington, D.C. The bank has total assets of $83 billion.
M&T is the leading bank in the Syracuse metro area deposit market with 30 branches, more than $2.5 billion in deposits, and a market share of 23.4 percent, according to the latest statistics from the Federal Deposit Insurance Corp. The bank is second in the Utica–Rome area with 12 branches, $627.5 million in deposits, and a market share of about 17 percent.
M&T also leads the Binghamton–area market with 16 branches, more than $1.3 billion in deposits, and a market share of more than 50 percent.
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