Updated to include additional analyst comments and earnings estimates.
NEW YORK ( TheStreet) -- Bank of Montreal's (ORCL) $4.1 billion acquisition of Midwestern lender Marshall and Ilsley is turning out to be a big earnings driver, proving the benefits of U.S. bank deals.
In Tuesday earnings, Bank of Montreal reported record first-quarter net income of $1.1 billion, or $1.65 a share, on a doubling of earnings at its U.S. operations (called BMO Harris Bank), which was bolstered by the Marshall & Ilsley acquisition that closed in 2011. Profit at Chicago-based BMO Harris Bank more than doubled to $138.6 million -- from $54.6 million in the quarter -- on an earnings lift and a fall in U.S. loan loss provisions."Although it is early to declare that BMO has turned around
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