M&T Bank Corporation (NYSE:MTB) announces third quarter 2026 results

M&T Bank Corporation ("M&T" or "the Company") reports quarterly net income of $775 million or $5.04 of diluted earnings per common share. (Dollars in millions, except per share data) 3Q26 2Q26 3Q25 Earnings Highlights Net interest income $ 1,793 $ 1,792 $ 1,761 Taxable-equivalent adjustment 12 12 12 Net interest income - taxable-equivalent 1,805 1,804 1,773 Provision for credit losses 135 120 125 Noninterest income 743 740 752 Noninterest expense 1,393 1,349 1,363 Net income 775 818 792 Net income available to common shareholders - diluted 732 781 754 Diluted earnings per common share 5.04 5.32 4.82 Return on average assets - annualized 1.40 % 1.51 % 1.49 % Return on average common shareholders' equity - annualized 11.44 12.30 11.45 Average Balance Sheet Total assets $ 218,860 $ 216,532 $ 211,053 Interest-bearing deposits at banks 14,209 15,061 17,739 Investment securities 38,552 38,728 36,559 Loans 143,296 140,650 135,890 Deposits 166,777 163,524 162,576 Borrowings 19,225 20,794 15,633 Selected Ratios (Amounts expressed as a percent, except per share data) Net interest margin 3.65 % 3.70 % 3.69 % Efficiency ratio (1) 54.4 52.8 53.6 Net charge-offs to average total loans - annualized .35 .23 .42 Allowance for loan losses to total loans 1.51 1.53 1.59 Nonaccrual loans to total loans .90 .85 1.11 Common equity Tier 1 ("CET1") capital ratio (2) 10.16 10.19 10.99 Common shareholders' equity per share $ 174.95 $ 176.03 $ 170.43 ____________________ (1) A reconciliation of non-GAAP measures is included in the tables that accompany this release. (2) CET1 capital ratio at September 30, 2026 is estimated. Financial HighlightsTaxable-equivalent net interest income increased nominally in the recent quarter as compared with the second quarter of 2026 reflecting an additional day, partially offset by lower interest income on nonaccrual loans. Average loans grew $2.6 billion in the recent quarter reflecting higher average commercial real estate loan balances of $1.6 billion, consumer loan balances of $634 million and residential real estate loan balances of $367 million. Higher noninterest income in the recent quarter reflects an increase in residential mortgage banking revenues, partially offset by a decrease in capital markets and advisory revenues and a lower distribution from M&T's investment in Bayview Lending Group LLC ("BLG"). Noninterest expense reflects increases in outside data processing and software costs and professional and other services expense as well as higher personnel costs from an additional working day in the recent quarter. The allowance for loan losses as a percent of total loans declined 2 basis points to 1.51% at September 30, 2026. In the recent quarter, M&T repurchased 1.3 million shares of its common stock at a total cost of $323 million. M&T's CET1 capital ratio is estimated to be 10.16% at September 30, 2026.Chief Financial Officer Commentary"M&T's third quarter results were highlighted by strong loan and deposit growth, stable credit and a solid capital position. Fee income in the recent quarter continues to reflect the breadth of M&T's franchise and our ability to meet customers' evolving needs through a wide range of financial capabilities. The continued strength across customer-driven revenue streams demonstrates the value of our diversified business model and the depth of our customer relationships. These relationships are at the heart of our purpose, to make a difference in people's lives. I want to thank our employees for their ongoing commitment to the communities and customers we serve."- Daryl N. Bible, M&T's Chief Financial OfficerContact: Investor Relations: Rajiv Ranjan 716.842.5138 Steve Wendelboe 716.842.5138 Media Relations: Frank Lentini 929.651.0447 Financial Reporting MattersAs reported on M&T's Form 8-K dated September 28, 2026, effective for the third quarter of 2026 M&T made certain changes and reclassifications to Other income categories presented in its Consolidated Statement of Income. Also effective for the third quarter of 2026, M&T began separately presenting loans held for sale from loans held for investment in its Consolidated Balance Sheet and its Average Balance Sheet and Annualized Taxable-equivalent Rates disclosures. Accordingly, annualized taxable-equivalent rates for each impacted loan category and certain loan-based credit quality ratios exclude loans held for sale. Additionally, as reported in M&T's Form 10-Q for the quarter ended June 30, 2026, in conjunction with the implementation of a new general ledger platform during the second quarter of 2026, the Company modified its methodology for calculating annualized taxable-equivalent rates for certain earning assets and interest-bearing liabilities, including certain average deposit balances. All periods presented herein reflect those changes. Non-GAAP Measures (1) (Dollars in millions, except per share data) 3Q26 2Q26 Change 3Q26 vs.2Q26 3Q25 Change3Q26 vs.3Q25 Net operating income $ 780 $ 823 -5 % $ 798 -2 % Diluted net operating earnings per common share 5.08 5.35 -5 4.87 4 Annualized return on average tangible assets 1.47 % 1.59 % 1.56 % Annualized return on average tangible common equity 17.29 18.57 17.13 Efficiency ratio 54.4 52.8 53.6 Tangible equity per common share $ 115.88 $ 117.41 -1 $ 115.31 — ____________________ (1) A reconciliation of non-GAAP measures is included in the tables that accompany this release. M&T consistently provides supplemental reporting of its results on a "net operating" or "tangible" basis, from which M&T excludes the after-tax effect of amortization of core deposit and other intangible assets (and the related goodwill and core deposit and other intangible asset balances, net of applicable deferred tax amounts) and expenses associated with merging acquired operations into M&T (when incurred), since such items are considered by management to be "nonoperating" in nature. Taxable-equivalent Net Interest Income (1) (Dollars in millions) 3Q26 2Q26 Change 3Q26 vs. 2Q26 3Q25 Change 3Q26 vs. 3Q25 Average earning assets $ 196,739 $ 195,216 1 % $ 190,920 3 % Average interest-bearing liabilities 142,294 140,354 1 134,153 6 Net interest income - taxable-equivalent 1,805 1,804 — 1,773 2 Yield on average earning assets 5.41 % 5.40 % 5.60 % Cost of interest-bearing liabilities 2.44 2.36 2.72 Net interest spread 2.97 3.04 2.88 Net interest margin 3.65 3.70 3.69 ____________________ (1) Condensed Consolidated Average Balance Sheet and Annualized Taxable-equivalent Rates are included in the accompanying table herein. Taxable-equivalent net interest income in the recent quarter rose nominally from the second quarter of 2026 reflecting an additional day, lower interest income on nonaccrual loans and loan growth funded by interest-bearing deposits as the Company reduced its average short-term borrowings. Taxable-equivalent net interest income increased $32 million, or 2%, as compared with the year-earlier third quarter reflecting lower rates paid on average interest-bearing deposits and growth in average loans and investment securities, partially offset by lower yields received on loans.Read More

M&T Bank Corporation (NYSE:MTB) announces third quarter 2026 results

公司的其他新闻