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Bank sees income boost in quarter

M&T Bank Corp. on Thursday reported its net income rose 4 percent in the fourth quarter.
The bank posted income of $213.3 million, or $1.88 a share, up 4 percent from $205 million, or $1.78 a share, for the fourth quarter 2005.
The Buffalo-based financial firm reported full-year profits of $839.2 million, or $7.37 a share, up 7 percent from $782.2 million, or $6.73 a share, for 2005.
“Despite a rather difficult interest-rate environment, 2006 proved to be a successful year,” said Rene Jones, executive vice president and chief financial officer, in a statement.
The bank “saw strong growth in our Mid-Atlantic franchise, expanded our branch network in Upstate New York and had another year of double-digit growth in earnings per share.”

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