BUFFALO- M&T Bank the Buffalo based bank with nearly $70 billion in assets and one of the 20 biggest lenders in the United States saw profit of $192 million or $1.48 a share. This was an increase of 53% from the prior year quarter.Commenting on M&T's financial results in the recent quarter, Rene F. Jones, Executive Vice President and Chief Financial Officer, noted, "Revenues and net income held up nicely this quarter and were each improved from a year-earlier." Provisions were also down sharply from the prior year quarter indicating improved credit quality.
M&T stock is currently not being traded but their is strong evidence that the stock will have a strong day today.
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