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M&T 15th in overdraft fees

M&T Bank took in $27.5 million in overdraft fees in the first quarter, ranking 15th among the top 20 U.S. commercial and savings banks, according to SNL Financial.

Overdraft fees represented 7.45 percent of the Buffalo-based bank’s non-interest income for the quarter, SNL said. That percentage nearly matched the industry median of 7.62 percent.

In contrast, First National Bank Texas generated more than 41 percent of its non-interest income from overdraft fees; Citibank generated less than 1 percent.