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September 14, 2023

M&T Bank names Maine regional president to succeed Thornton

Four months after the retirement of Dan Thornton, M&T Bank has named a banker with a commercial lending background in Maine and New Hampshire to take over as Maine regional president.

Courtesy / M&T Bank
Phil Cohen, M&T Bank's regional president for Maine.

Phil Cohen most recently served as group manager for the commercial real estate teams in Maine and New Hampshire — a role he will continue to fill. 

Thornton, who retired May 1, served as Maine regional president of People's United Bank going back to 2013. When People's was acquired by Buffalo-based M&T Bank a year ago, Thornton was kept on as the Maine president. 

M&T Bank (NYSE: MTB), which is based in Buffalo, has 19 branches in Maine. By market share, M&T Bank is No. 13 in Maine, according to the 2023 Mainebiz Book of Lists. That ranking is based on $1.271 billion in Maine deposits as of June 30, 2022.

Cohen will partner with M&T's community bank leadership team, which includes members from its retail, business banking, wealth management and charitable teams. Cohen joined M&T in 2022 following its acquisition of People's United Bank and has been with the combined organization for 18 years.

"Phil's combination of deep banking experience and knowledge of Maine continues to be an asset to M&T, our partners, and our customers," said Mike Keegan, M&T Bank senior executive vice president and head of community bank.

"We empower regional leaders to bring all the enterprise capabilities of a large bank to the communities we serve by delivering a unique and customized banking experience to our customers."

File Photo / Tim Greenway
Dan Thornton served as regional president for People's United (now M&T Bank) from 2013 to May 2023.

Cohen will make local decisions about community activities, grants and lending.

"It's an amazing opportunity to serve as regional president," said Cohen.

"I've long admired Maine since first experiencing its quality of life in my childhood and having now worked in the region for almost two decades. I remain inspired by Maine's unique geography, robust economy and resilient workforce. I look forward to working throughout the community to continue to build upon the positive economic momentum in the state."

Cohen is an active member of the community and currently serves as chairperson of the Economic Development Commission of Portsmouth, N.H., and serves on the board of the Chamber Collaborative of Greater Portsmouth. He also is on the board of the Housing Partnership, a nonprofit affordable housing developer based in the Seacoast region of New Hampshire.

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