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M&T Bank 1Q Profit Falls 68 Percent, Shares Slide

Stock quotes in this article: PBKS  

BUFFALO, N.Y. (AP) — M&T Bank Corp. on Tuesday said its first-quarter profit fell 68 percent as the regional bank's results were hurt by an investment loss and a larger set-aside to cover credit losses.

Shares of M&T fell nearly 9 percent in morning trading.

M&T reported net income for the three months ended March 31 of $64.2 million, or 49 cents per share, down from a profit of $202.2 million, or $1.82 per share, in last year's first quarter. ...

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