M&T Bank profit doubles in 4Q

M&T Bank Corp.'s profit more than doubled in the fourth quarter, driven in part by an increase in mortgage banking revenue and a decrease in loan-loss provisions.

The Buffalo, N.Y.-based bank reported a profit of $296.2 million, or $2.16 per share, for the period ending Dec. 31. That’s up 100 percent from the same period in 2011 when profit totaled $147.7 million, or $1.04 per share.

The bank noted that the 2011 fourth quarter included a handful of charges and write-downs that reduced net income…