M&T lowers Q4 results after settlement

|About: M&T Bank Corporation (MTB)|By:, SA News Editor

This week's settlement of a case brought by the Mennen family against M&T Bank's (MTB) Wilmington Trust unit forces M&T to boost Q4 legal reserves by $40M. The move cuts $24M or $0.18 per share from M&T's previously reported net income of $227.4M or $1.74 per share.