UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________ FORM 10-Q _______________________ x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 Commission File Number 1-9861 _______________________ M&T BANK CORPORATION (Exact name of registrant as specified in its charter) _______________________ New York 16-0968385 (State or other jurisdiction of incorporation or organization) (I.R.S. Em ...

Core Viewpoint - M&T Bank reported strong Q2 earnings, surpassing consensus estimates, and showing improvement in credit quality, which alleviates some concerns regarding reserves [2][12]. Financial Performance - In Q2, M&T Bank earned $3.79 per share, exceeding consensus by $0.28, with revenue of $2.3 billion slightly above estimates [2]. - Earnings increased by $0.70 sequentially, indicating solid financial performance [2]. - Net interest income rose by $39 million to $1.73 billion, with a net interest margin (NIM) of 3.59%, up 7 basis points sequentially [9]. Credit Quality - The company experienced meaningful improvement in credit quality, with nonaccrual loans declining by $300 million from Q1 and $400 million from the previous year [11]. - M&T took $150 million in provisions for credit loss, down from $200 million last quarter, indicating a shift away from commercial real estate (CRE) [12]. - The bank's nonaccrual loans now total $2.0 billion, reflecting effective recovery efforts [11]. Deposit Trends - M&T Bank has $163.5 billion in deposits, down $600 million from the previous quarter but up 1.7% year-over-year [9]. - Deposit costs remained flat at 2.06%, despite a decline in noninterest-bearing deposits [10]. - Consumer deposits increased, while brokered deposits decreased, indicating a favorable deposit mix [10]. Market Position and Valuation - M&T's shares are viewed as fairly valued at approximately 11x earnings power, similar to peers like Fifth Third [13]. - The bank's common equity tier 1 (CET1) capital ratio stands at 11.4%, providing a buffer against lower reserves [12]. - The outlook for the year appears credible, with expectations for a normalized NIM of around 3.54% to 3.60% by year-end [12].

M&T Bank Corporation MTB reported better-than-expected second-quarter financial results on Thursday. M&T Bank shares fell 0.5% to trade at $166.51 on Friday. Read Next: Loading... "Building on a strong start to the year, the second quarter results reflect a 24% increase in diluted earnings per common share from the first quarter. We continued to grow our commercial and industrial and consumer loan portfolios, while lessening our commercial real estate exposure. Credit metrics improved as both nonaccrual and ...

M&T Bank's second-quarter earnings beat expectations on both the top and bottom lines but declined year-over-year. Net interest income also fell, while average loans and leases at the bank increased. M&T's CFO pointed out the bank's growing loan portfolios and reduced commercial real estate exposure. Key Takeaways M&T Bank (MTB) shares finished Thursday higher after the bank beat expectations with its second-quarter results. The firm reported earnings per share (EPS) of $3.73 on revenue of more than $2.3 bi ...

M&T Bank Corporation's (MTB) second-quarter 2024 net operating earnings per share (EPS) of $3.79 topped the Zacks Consensus Estimate of $3.50. However, the bottom line compared unfavorably with $5.12 earned in the year-ago quarter. Results benefited from a rise in loans and leases and higher deposits. A decline in net interest income (NII) and higher expenses were spoilsport. M&T Bank's quarterly revenues were $2.32 billion, surpassing the consensus estimate of $2.27 billion. However, the reported figure de ...

M&T Bank Corporation (NYSE:MTB) Q2 2024 Earnings Conference Call July 18, 2024 8:00 AM ET Company Participants Brian Klock - Head, Markets & Investor Relations Daryl Bible - Senior Executive Vice President & Chief Financial Officer Conference Call Participants Manan Gosalia - Morgan Stanley Matt O'Connor - Deutsche Bank Erika Najarian - UBS John Pancari - Evercore ISI Ebrahim Poonawala - Bank of America Ken Usdin - Jefferies Gerard Cassidy - RBC Chris Farr - Wells Fargo Operator Welcome to the M&T Bank Seco ...

7 • Net Operating ROTA increased +23 bps QoQ – Higher nonaccrual interest, partially offset by impact of cash flow hedges – Cost of interest-bearing liabilities remained stable 10 Balance Sheet – Average Loans $ IN BILLIONS $54.5 $54.5 $55.4 $56.8 $58.1 $34.9 $34.3 $33.5 $32.7 $31.5 $23.8 $23.6 $23.3 $23.1 $23.0 $20.3 $20.2 $20.6 $21.2 $22.0 $133.5 $132.6 $132.8 $133.8 $134.6 6.02% 6.19% 6.33% 6.32% 6.38% C&I CRE Residential Mortgage Consumer Total Loans Total Loan Yield 2Q23 3Q23 4Q23 1Q24 2Q24 QoQ Drivers ...

M&T Bank Corporation (MTB) came out with quarterly earnings of $3.79 per share, beating the Zacks Consensus Estimate of $3.50 per share. This compares to earnings of $5.12 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 8.29%. A quarter ago, it was expected that this company would post earnings of $3.13 per share when it actually produced earnings of $3.09, delivering a surprise of -1.28%. Over the last four quarters, the com ...

Second Quarter 2024 Results M&T Bank Corporation | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------------------------------------|-------|---------------------|-------|----------------------|-------|-------------------------|-------|--------------------------|-------|-------------------| | Condensed Consolidated Balance Sheet, Five Quarter \n(Dollars in millions) \nASSETS | Trend | June 30, \n2024 | | March 31, \n2024 ...

| --- | --- | --- | --- | --- | --- | |------------------------------------------------------------------------|------------|------------|------------------------|------------|------------------------| | (Dollars in millions, except per share data) | 2Q24 | 1Q24 | Change 2Q24 vs. \n1Q24 | 2Q23 | Change 2Q24 vs. \n2Q23 | | Net operating income Diluted net operating earnings per common share | $ 665 3.79 | $ 543 3.09 | 22 % 23 | $ 879 5.12 | -24 % -26 | | Annualized return on average tangible assets | 1.31 % ...