M&T Bank Profits Rise

M&T Bank's(MTB Quote) second-quarter earnings rose 8% from a year ago, beating analysts earnings estimates despite a slight decline in net interest income.

M&T earned $212.5 million, or $1.87 a share, in the quarter, compared with $196.8 million, or $1.73 cents a share, a year ago. Analysts had been forecasting net earnings of $1.82 per share in the last quarter, according to Thomson Financial.

Net interest income, the bank's biggest money maker, was $446.6 million, down slightly from $447.5 million in the prior year. Noninterest income rose 7%, to $263 million from $245 in the same quarter last year. ...