SCHENECTADY — M&T Bank Corp. (NYSE: MTB) recently announced it has secured the exclusive naming rights to the new state-of the-art events venue that Galesi Group is building in the heart of Mohawk Harbor in Schenectady.

Situated along the waterfront of the revitalized Mohawk Harbor in Schenectady, the M&T Bank Center will become a regional hub for live entertainment, sporting events, community celebrations, and special functions, according to the June 5 announcement. The venue is slated to open this summer.

“We are truly honored to introduce our community to the M&T Bank Center. In addition to serving as an attraction for entertainment, we’re confident the M&T Bank Center will become a catalyst for economic development and civic pride, locally and regionally,” Charles Pinckney, M&T Bank regional president for the Capital Region and Hudson Valley, said in the announcement. “Schenectady’s ongoing revitalization is critically important to the long-term growth of the entire Capital Region. When the M&T Bank Center officially opens, Mohawk Harbor will be further poised to emerge as an entertainment destination that will encourage tourism, business growth, new investment, residential activity, and more.”

The M&T Bank Center will be the home of Union College’s Division I hockey programs and will host headline entertainment acts year-round.

“We are excited to partner with M&T Bank on what will be one of the Capital Region’s most vibrant and versatile event venues,” David Buicko, president and CEO of the Galesi Group, said. “M&T’s commitment to community and regional growth makes them the perfect partner for this project at Mohawk Harbor.”

This naming-rights agreement is a multi-year commitment from M&T Bank and builds on the bank’s longstanding efforts to support Schenectady’s revitalization. M&T Bank said it played an important role in convening financing partners and deploying capital to assist Galesi Group with the construction of the M&T Bank Center, as well as previous phases of the Mohawk Harbor redevelopment.

Mohawk Harbor, a $650 million mixed-use development along the Mohawk River, is home to luxury apartments, hotels, offices, retail, and the Rivers Casino & Resort. The M&T Bank Center will further expand the harbor’s appeal as a top destination for residents and visitors alike, the bank said.

The announcement did not disclose the price tag for the naming rights.

M&T Bank Corp. is a financial-holding company headquartered in Buffalo. Its main banking subsidiary, M&T Bank, provides banking products and services with a branch and ATM network spanning the eastern U.S. from Maine to Virginia and Washington, D.C. The bank ranks number one in deposit market share in the 16-county Central New York area. M&T Bank’s Syracuse regional headquarters office is located at 250 South Clinton St. in downtown Syracuse.