Norman LevineM & T Bank CorpMTBCOMMENTAug 29, 2012
If he had to own another North American bank, it would probably be a US regional bank. This one is a very well-run bank and it didn’t get into trouble and didn’t need TARP money. Just made a really good acquisition.
They reported earlier this week, slightly beating revenues, but missing EPS a lot. But MTB is a higher-quality regional bank, because they avoided the mistakes made by peers.
They just reported a huge earnings beat with deposits up 2% last quarter instead of down. Regional banks have been a on tear lately to rebound from last spring' meltdown.
If he had to own another North American bank, it would probably be a US regional bank. This one is a very well-run bank and it didn’t get into trouble and didn’t need TARP money. Just made a really good acquisition.