M&T Bank Corp. (MTB) in Buffalo has revised its fourth-quarter and yearly earnings downward due to costs related to a lawsuit against its Wilmington Trust unit.

The company increased its litigation reserve to $40 million after reaching a settlement Monday on behalf of Wilmington Trust, which M&T acquired in 2011. The adjustment reduced M&T's fourth-quarter earnings to $221.4 million, compared to the initially reported $245.7 million. Its income for the full year of 2013 decreased by 1.7%, to $1.14 billion.

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