M&T Bank, the US bank which acquired Allfirst Financial from AIB, said today it earned $134 million in the second quarter, up 17 per cent on the same quarter of 2002.
The results include the contribution from Allfirst for the first time. Merger-related expenses were $22 million. M&T will incur additional merger-related expenses in the second half of 2003 as Allfirst's operations are fully integrated into M&T.
Commenting on the results Mr Robert G. Wilmers, M&T's chairman and chief executive said the merger of Allfirst into M&T had gone smoothly.