M&T Bank Corp. (MTB) Tops Q1 EPS by 20c

M&T Bank Corp. (NYSE: MTB) reported Q1 EPS of $2.12, $0.20 better than the analyst estimate of $1.92.

Commenting on M&T\'s first quarter results, Darren J. King, Executive Vice President and Chief Financial Officer, noted, "M&T's financial performance for the first quarter was strong, led by a 26 basis point widening of the net interest margin that resulted in growth in taxable-equivalent net interest income of four percent as compared with the preceding quarter. Expenses continued to be well-controlled, recognizing the seasonally higher costs traditionally seen in the first quarter for stock-based compensation and employee benefits, and credit quality factors remained stable. In accordance with our capital plan, M&T repurchased $532 million of its common stock and increased the common stock dividend from $.70 to $.75 during the quarter."

For earnings history and earnings-related data on M&T Bank Corp. (MTB) click here.

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