New York-based M&T Bank had a bumpy entrance into the Connecticut market following its 2022 purchase of Bridgeport-based People’s United Bank, but the company has been able to stabilize its operations in the state since then.
Leading those efforts is Frank Micalizzi, the bank’s Bridgeport regional president and head of commercial banking for Connecticut.
Micalizzi is responsible for ensuring collaboration across all lines of business and direct community banking activities. Previously, he served as M&T’s Tarrytown, New York and Connecticut regional president since 2015.
He leads a bank that has one of the largest footprints in Connecticut thanks to its People’s United acquisition. As of June 30, 2024, it held $18.8 billion in deposits in the state — the third-largest market share among all banks — and had 118 branches.
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Micalizzi’s bank has also become the state’s largest Small Business Administration lender, underwriting 168 loans totaling $19 million in fiscal 2024.
Key issues Micalizzi said he will watch this year include what happens with interest rates and prioritizing significant investments in advanced security measures to protect against fraud and data breaches.
Micalizzi started at M&T Bank in 2009, and previously served as senior group manager for the Tarrytown, New York middle market group. Prior to joining M&T, he spent 30 years with JPMorgan Chase, holding senior positions, including senior vice president and division manager.