M&T Bank Corporation (MTB: News) posted its first-quarter net income available to common equity to register a climb of $138.34 million from $55.32 million grabbed the previous year. Diluted earnings per share are reported to touch $1.15 compared to $0.49 an year before.

However, the 19 analysts polled by Thomson Reuters estimated the company's profit to touch $0.99 per share for the quarter.

The bank witnessed its net operating income jump to $160.95 million from $75.03 million a year ago. Diluted net operating earnings per common share which exclude the effect of amortization of core deposit and other intangible assets and merger-related expenses, was $1.23 compared to $0.59 an year before.

Moreover, its net interest income was $556.33 million contrasted to $447.81 million the previous year. Taxable-equivalent net interest income is revealed to touch nearly $562 million in the first quarter of 2010, however, was $453 million in the year-earlier quarter.

René Jones, Executive Vice President and CFO, said, "M&T posted strong financial results in the first quarter, led by lower credit costs and further widening of our net interest margin."