Though the largest banks have reported soaring profits on investment banking gains, the chief financial officer of M&T Bank Corp. of Buffalo, Rene Jones, said he's happy making money the old-fashioned way.

"We don't have a lot of trading-type revenue. There is not a lot of volatility in our model," Jones said Monday. "We're focused on banking in the community. I think that has made us more stable. The places where we have had losses are places where we moved a little bit away from that."

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