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Actionable news in MTB: M&T BANK Corp,

M&T falls shy of estimates as mortgages slow

M&T Bank Corp. said profit edged up in its latest quarter, as cost reductions helped offset the effect of a slowdown in mortgage loan originations and a sharp increase in the lender's loss provision.

Results fell short of Wall Street projections.

The bank earned $280.4 million in the third quarter, up from $275.3 million a year earlier. Per-share earnings rose to $1.93 from $1.91. Revenue edged 1.2% higher to $1.14 billion. Analysts had predicted $2.01 in earnings per share and $1.15 billion in revenue, according to Thomson...


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