-=M&T Bank (MTB) reported earnings on Wed 18 July 18 (b/o)

M&T Bank beats by $0.10 

• Reports Q2 (Jun) earnings of $3.26 per share, $0.10 better thanthe Capital IQ Consensus of $3.16.
• Provision for Credit Losses/Asset Quality. The provision for credit losses was $35 million in the second quarter of 2018, compared with $52 million in the year-earlier quarter and $43 million in 2018's first quarter. Net charge-offs of loans were $35 million during the recent quarter, compared with $45 million in the second quarter of 2017 and $41 million in the first quarter of 2018. Expressed as an annualized percentage of average loans outstanding, net charge-offs were .16% and .20% in the second quarters of 2018 and 2017, respectively, and .19% in the first quarter of 2018.