M&t Bank Stock Earnings Reports

M&T delivered a very strong quarter: record quarterly diluted EPS of $5.32 and GAAP net income of $818M, driven by robust loan growth, the highest quarterly NII since 2023, and record fee income (excluding prior-period notable items). Average loans rose $3.0B to $141.4B with broad-based commercial strength (middle market, C&I, mortgage warehouse, institutional CRE) and an inflection in CRE—end-of-period CRE rose $1.1B since March to $24.5B. Net interest margin held at 3.70% despite loan growth. Deposits were stable on the quarter (average deposits $163.5B) with a strategic remix toward lower-cost time deposits and a cumulative interest-bearing deposit beta ~56% (guidance low–mid 50% going forward); end-of-period deposits strengthened to $168.9B. Fee income was broad-based (notably wealth/trust, corporate trust, mortgage servicing and Bayview distributions). Expenses declined QoQ to $1.35B; the company expects FY expenses at the high end of $5.5B–$5.6B as it continues targeted investments (technology, cybersecurity, mortgage servicing capacity). Credit trends improved: net charge-offs were $80M (23 bps) with declining criticized loans (nine consecutive quarterly declines) and non-accruals down; management now guides FY net charge-offs to ~37 bps. Capital: estimated CET1 10.19% (down modestly due to $465M buybacks and loan-related RWA growth); management intends to operate in the lower part of a 10%–10.5% CET1 range and will calibrate buybacks to that target. Outlook: NII guidance $7.2B–$7.35B (they expect the lower half), full-year NIM in the high 3.60% range, continued loan and deposit growth with an asset-sensitive balance sheet and flexibility to manage funding via swaps, securities mix, and wholesale funding if needed.