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First Empire State Corp.
Buffalo-based banking company, which owns M&T Bank, said its third-quarter profits rose less than 1 percent because of a $4.1 million charge it took to pay for a special assessment that will be imposed by the Federal Deposit Insurance Corp. to help recapitalize the ailing Savings Association Insurance Fund. Without that charge, earnings would have increased by about 12 percent.

Common stock data
Latest close .... $259.75
52-week range .... $192.50-$262.00
Dividend .... $4.32
P/E ratio .... 13.8
Beta .... 0.66
Average daily volume .... 3,431
Financial data
Annual profit .... $131 million
Annual sales .... NA
Earnings per share
1995 .... $18.79
Estimated EPS for 1996 .... $21.45
Key financial ratios
Net interest margin.... 4.5%
Return on equity .... 17.1%
Return on assets .... 1.2%
What a key exec says
"Loan growth was strong and continued the 10 percent annualized growth rate from the second quarter."
-- Gary S. Paul, senior VP
SOURCES: Bloomberg Business News; Zack's Investment Research.

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