Banks are looking less distressed these days, but nobody really knows what the new normal is going to look like. Regulatory changes may lower long-term
return on equity relative to past levels, but banks have a knack for finding new sources of
revenue. The question for
M&T Bank (NYSE:
MTB), then, is how successful the company is in building on its large Wilmington Trust
acquisition and whether it can exceed historical returns.
A Solid First Quarter
In many respects, M&T Bank's first
quarter is a lot like the fourth quarter.
Net interest margin was a little better than expected, non-interest income was a little better and expenses were a little higher.
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