The Federal Reserve said it has approved the application by M&T Bank Corp. (MTB) to acquire Wilmington Trust Corp. (WL).

The Fed on Tuesday disclosed its approval of the request by M&T, which is based in Buffalo, N.Y. M&T has $68 billion in total assets, the Fed said.

Wilmington, of Wilmington, Del., late last year had agreed to be bought by M&T. It has total assets of $11 billion, according to the Fed.

-By Jeff Bater, Dow Jones Newswires; 202-862-9249; jeff.bater@dowjones.com
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