M&T Bank Corp.'s third-quarter earnings fell 4.6% on merger-related charges as the regional bank continued to reduce the amount of loans written off.
The bank, which operates in the Northeastern and mid-Atlantic states, has posted improved results in recent quarters on improving credit quality, like most of the industry.
M&T Bank reported a profit of $183.1 million, or $1.32 a share, down from $192 million, or $1.48, a year earlier. The most-recent quarter included merger-related expenses of 13 cents a share.
Analysts polled by Thomson Reuters had most recently forecast earnings of $1.65 a share.
Credit-loss provisions fell to $58 million from $93 million a year earlier and $63 million in the second quarter. Net charge-offs, or loans it doesn't think are collectible, decreased to 0.39% of average loans from 0.73% year-over-year and 0.43% sequentially.
Total deposits were $59.48 billion at Sept. 30, up 22% from $48.65 billion a year earlier.
