BUFFALO, N.Y. (AP) _ M&T Bank Corp. (MTB) on Monday reported first-quarter earnings of $348.9 million.
The bank, based in Buffalo, New York, said it had earnings of $2.12 per share. Earnings, adjusted for amortization costs, were $2.15 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.94 per share.
The bank holding company posted revenue of $1.45 billion in the period. Its adjusted revenue was $1.36 billion, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $1.34 billion.
M&T Bank shares have declined slightly more than 5 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 4 percent. The stock has risen 27 percent in the last 12 months.