FX.co ★ M&T Bank Q2 Net Income Declines

M&T Bank Corporation (MTB) announced a decrease in its second-quarter net income available to common shareholders, falling to $626 million from last year's $841 million. Earnings per common share were reported at $3.73, down from $5.05. Net operating earnings per common share also saw a decline, reaching $3.79 from $5.12.

Net interest income, on a taxable-equivalent basis, dropped to $1.73 billion from the previous year's $1.81 billion. Meanwhile, noninterest income decreased to $584 million from $803 million.