BUFFALO - M&T Bank Corp. said Monday that it expects third-quarter per-share earnings, excluding merger costs associated with its pending acquisition of Keystone Financial Inc., to meet or exceed current First Call consensus estimates, which last week stood at $9.33 a share.
The company also said its credit quality trends are likely to remain "relatively stable" over the near term.
M&T made the comments as part of an announcement that its Manufacturers and Traders Trust Co. bank subsidiary was contemplating offering $350 million of subordinated notes due 2010 to certain institutional investors.
Representatives of M&T Bank plan to meet this week with potential investors, and the earnings and credit comments are to be part of those meetings. Presentation materials that will be used in these meetings are available on M&T's Web site, www.mandtbank.com.