DBRS: M&T Bank unchanged

DBRS said M&T Bank Corp.'s issuer and senior debt ratings are unchanged at A (low) after the release of its fourth quarter of 2011 results.

The trend is negative.

Given considerable noise, the bank reported net income available to common shareholders of $129.8 million for the fourth quarter, down from $164.7 million for the third quarter of 2011, DBRS said.

Nonetheless, despite the difficult business environment and multiple non-core revenue and expense items, operating revenues remain resilient and core expenses well managed, the agency said.

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