By ALLISSA KLINE
Business First

M&T Bank Corp. has wrapped up its $401 million acquisition of Provident Bankshares Corp., the bank said Tuesday.

The deal, which closed Saturday, amplifies M&T Bank's presence in Maryland with the addition of 135 bank branches and 190 ATMs. Bank officials say there are now more than 800 M&T Bank branches and more than 1,800 ATMs throughout New York, Pennsylvania, New Jersey, Delaware, Maryland, Virginia, West Virginia and Washington, D.C.

At the same time, the acquisition means that 520 Provident jobs will be lost in the Baltimore area. M&T Bank has said former Provident employees will have first dibs on M&T Bank's vacant positions.

Under the agreement, former Provident chairperson and CEO Gary Geisel has been named a director of M&T Bank and M&T Bank Corp. Provident common stockholders will receive 0.17 shares of M&T common stock in exchange for each share of Provident common stock they owned.

At the end of March, M&T Bank reported $64.9 billion in assets, while Provident reported $6.5 billion in assets, banking officials said.