This Week
  • Wilmorite hopes soon to win approval for $425M casino in Seneca County.

  • For startup companies, legal and accounting missteps can prove costly.

  • Architect David Hanlon has worked with some of the area's leading developers.

  • ID Signsystems Inc. has grown from a local company into an international business.

  • Robert Linton guides Jazz 90.1 through a new era in media.

  • The RBJ 75 supplement presents a list of the 75 largest private-sector employers.

Q1 net income climbs 36 percent at M&T Bank

Rochester Business Journal
April 15, 2013

M&T Bank Corp. on Monday reported first-quarter net income of $255.1 million attributable to common shareholders, up 36 percent from a year ago and better than analyst expectations.

The Buffalo-based bank, the deposit leader in the Rochester market, reported diluted earnings per share of $1.98, compared with $1.50 on net income of $188.2 million in the first quarter 2012.

“Residential mortgage banking revenues continued to be robust, and trust income grew nicely from last year’s fourth quarter,” said Rene Jones, executive vice president and chief financial officer, in a statement.

Excluding special items, first-quarter income totaled $274.1 million, or $2 a basic share, up 33 percent from $206,463, or $1.50 a share, a year ago.

Wall Street was expecting per-share earnings of $1.96. Analysts typically exclude special items in their forecasts.

M&T leads the local market with deposits of $3.6 billion, data from the Federal Deposit Insurance Corp. shows.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google