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                                                                    EXHIBIT 99.2

On February 12, 2001, M&T Bank Corporation issued the following press release:


CONTACT: Michael S. Piemonte                FOR IMMEDIATE RELEASE

         (716) 842-5445                     Monday, February 12, 2001



             M&T BANK CORPORATION AND PREMIER NATIONAL BANCORP, INC.

                      MERGER CONSIDERATION ELECTION RESULTS

BUFFALO, N.Y. --- M&T Bank Corporation (NYSE:MTB)("M&T") today announced the
election results from its recent acquisition of Premier National Bancorp, Inc.
("Premier").

M&T acquired Premier on Friday, February 9, for $21.00 per share in a
transaction valued at $340 million. 50% of the Premier shares outstanding on the
date of the merger agreement were exchanged for M&T common stock at an exchange
ratio of .3091 of an M&T share for each Premier common share. Approximately
2,440,000 shares of M&T common stock were issued. The remaining Premier shares
were exchanged for $21.00 in cash. The merger was structured as a tax-free
exchange for shareholders to the extent they received stock, and was accounted
for as a purchase transaction.

EquiServe acted as the exchange agent in connection with the merger and has
tabulated the elections made by Premier shareholders pursuant to the terms of
the merger. The results of the tabulation are as follows:

         STOCK ELECTION - Shareholders who made stock elections will receive
100% of their stock elections in M&T common stock (with fractional shares being
paid in cash);

         CASH ELECTION - Shareholders who made cash elections will receive
$21.00 in cash for each share of Premier common stock;

         NO ELECTION - Shareholders who made no election, failed to surrender
Premier stock certificates or other required election documents, or whose
election documents were not received by the exchange agent by 5:00 p.m. on
Monday, January 29, 2001 received 65.54% in M&T common stock (with fractional
shares being paid in cash) and


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the remaining 34.46% in cash at $21.00 for each share of Premier common stock.
The following example illustrates the allocation.

                      EXAMPLE FOR NON ELECTING SHAREHOLDERS

                                              
         Stock - 65.54%                                       Cash -34.46%

Premier shares not elected       100 shares      Premier shares not elected   100 shares

Stock Consideration Percentage x 65.54%
                                 -----

Shares Exchanged for Stock     = 65.54
Shares Exchanged (Rounded)       66              Shares Exchanged for Stock  = 66
                                                                               --
                                                 Shares Exchanged for Cash     34

Exchange Ratio                 x  0.3091         Cash per Premier share      x $21.00
                                  ------                                       ------

Shares of M&T Common Stock       20.4006 (1)     Cash Consideration            $714.00



         (1) Cash in lieu of fractional shares were paid at a rate of $67.935
per M&T share.

NOTE: STOCK AND CASH PAYMENTS CAN BE MADE ONLY UPON THE SURRENDER OF PREMIER
NATIONAL BANCORP, INC. STOCK CERTIFICATES TO THE EXCHANGE AGENT TOGETHER WITH
PROPERLY COMPLETED AND EXECUTED TRANSMITTAL MATERIALS IN THE FORM TO BE PROVIDED
TO FORMER PREMIER SHAREHOLDERS.



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