Financial Data and Key Metrics - Diluted GAAP earnings per share improved to $4.02 in Q3 2024 from $3.73 in Q2 2024, reflecting a 10% increase in net income to $721 million [7] - Return on Assets (ROA) and Return on Common Equity (ROCE) were 1.37% and 10.26% respectively, with a CET1 ratio growing to 11.54% [7] - Net interest margin increased by 3 basis points to 3.62%, driven by fixed asset repricing and earning asset mix [9] - Non-interest income reached $606 million, up from $584 million in the linked quarter, driven by trust income and commercial mortgage fees [14] Business Line Performance - Average loans and leases increased slightly to $134.8 billion, with C&I loans growing 3% to $59.8 billion, while CRE loans declined 8% to $29.1 billion [10][11] - Consumer loans grew 4% to $22.9 billion, driven by recreational finance and indirect auto loans [11] - Loan yields remained unchanged at 6.38%, with lower non-accrual interest offset by fixed-rate loan repricing [11] Market Performance - The company maintained strong liquidity with $59 billion in investment securities and cash, representing 28% of total assets [12] - Average total deposits declined by $2 billion to $161.5 billion, with a $1.6 billion decline in non-interest-bearing deposits [13] - Interest-bearing deposit costs decreased by 2 basis points to 2.88% [13] Strategic Direction and Industry Competition - The company continues to reduce CRE concentration, growing C&I and consumer loans while managing funding costs effectively [6] - M&T Bank remains a top SBA lender, ranking 1 in several key markets, and has launched a $25 million initiative for financial inclusion and economic growth [4] - The company updated environmental goals, aiming to offset 100% of electricity use with renewable energy by 2030 [4] Management Commentary on Operating Environment and Future Outlook - The economy remains resilient, with GDP growth expected to be stronger than projected, though a mild recession remains possible [18] - The company expects taxable-equivalent NII to be at least $1.73 billion in Q4, with a net interest margin in the low 3.60s [19] - Loan growth is expected to continue, with average total loans projected at $136 billion, driven by C&I and consumer loans [20] Other Important Information - The company restarted its share repurchase program, executing $200 million in Q3 and planning another $200 million in Q4 [6][21] - Non-accrual loans decreased by $98 million or 5% to $1.9 billion, with the non-accrual ratio dropping to 1.42% [15] - The allowance to loan ratio decreased by 1 basis point to 1.62%, reflecting improvements in asset quality and macroeconomic outlook [16] Q&A Session Summary Question: Optimal CET1 Ratio and Share Repurchases - The company aims to maintain a CET1 ratio above 11%, with potential for increased share repurchases in 2025 depending on economic conditions [23][24] Question: Net Interest Income and Margin Outlook - The company expects continued improvement in NII and net interest margin, driven by positive repricing of fixed-rate assets and strong deposit management [25][26] Question: Criticized Loans and CRE Exposure - Criticized loans have declined for two consecutive quarters, with further reductions expected in Q4 and 2025, particularly in CRE [29][30] Question: Loan Growth and Deposit Beta - Loan growth is expected to accelerate in 2025, with a focus on growing core customer deposits and managing deposit beta around 40% [33][35] Question: Expense Management and Operating Leverage - The company expects positive operating leverage in 2025, with expenses projected to increase due to ongoing projects and corporate incentives [55][56] Question: Credit Quality and Loan Loss Reserves - The loan loss reserve ratio is expected to trend modestly lower, with improvements in criticized loans and a shift in loan portfolio mix [57][58] Question: NIM Trajectory and Other Revenue - The company expects NIM to remain in the low 3.60s for Q4, with other revenue driven by strong loan syndications and card fees [60][61] Question: Expense Projects and Through-the-Cycle Charge-offs - Some expense projects in Q4 will impact run rate, while through-the-cycle charge-offs are expected to be around 34 basis points, with potential increases due to portfolio mix changes [62][63]

Shares of M&T Bank Corporation (NYSE: MTB ) have been a strong performer over the past year, gaining over 50% to a 52-week-high. That rally appears set to continue Thursday, with the stock gaining a further 4% in response to solid quarterly Over fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a question for an article, just let me k ...

M&T Bank Corporation (MTB) reported $2.33 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 0.1%. EPS of $4.08 for the same period compares to $4.05 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $2.3 billion, representing a surprise of +1.33%. The company delivered an EPS surprise of +13.33%, with the consensus EPS estimate being $3.60. While investors scrutinize revenue and earnings changes year-over-year and how they compare wi ...

M&T Bank Corporation (MTB) came out with quarterly earnings of $4.08 per share, beating the Zacks Consensus Estimate of $3.60 per share. This compares to earnings of $4.05 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 13.33%. A quarter ago, it was expected that this company would post earnings of $3.50 per share when it actually produced earnings of $3.79, delivering a surprise of 8.29%. Over the last four quarters, the com ...

Exhibit 99.1 M&T Bank Corporation News Release One M&T Plaza, Buffalo, NY 14203 October 17, 2024 M&T Bank Corporation (NYSE:MTB) announces third quarter 2024 results M&T Bank Corporation ("M&T" or "the Company") reports quarterly net income of $721 million or $4.02 of diluted earnings per common share. (Dollars in millions, except per share data) 3Q24 2Q24 3Q23 Selected Ratios (Amounts expressed as a percent, except per share data) Net interest margin 3.62 % 3.59 % 3.79 % Efficiency ratio (1) 55.0 55.3 53.7 ...

BUFFALO, N.Y., Oct. 17, 2024 /PRNewswire/ -- M&T Bank Corporation ("M&T" or "the Company") reports quarterly net income of $721 million or $4.02 of diluted earnings per common share. | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------------------------------|-------|----------|-----------|-------|----------|-----------|---------|-----------| | | | | | | | | | | | (Dollars in millions, except per share data) Earnings Highlights | | | 3Q24 | | 2Q24 | | 3Q23 | ...

M&T Bank Corporation MTB will release earnings results for its third quarter, before the opening bell on Thursday, Oct. 17. Read This Next: Analysts expect the Buffalo, New York-based company to report quarterly earnings at $3.64 per share, down from $3.98 per share in the year-ago period. M&T Bank projects to report revenue of $2.32 billion for the quarter, compared to $2.32 billion a year earlier, according to data from Benzinga Pro. On Wednesday, M&T Bank announced quarterly preferred stock dividends. M& ...

Bank continues to lead small-business lending throughout its footprint BUFFALO, N.Y., Oct. 16, 2024 /PRNewswire/ -- M&T Bank (NYSE:MTB) approved 1,832 7(a) program U.S. Small Business Administration (SBA) loans in the past year and finished the SBA's 2024 fiscal year as the 10thlargest lender in the country. This marked the 16th consecutive year M&T Bank has ranked among the nation's top 10 SBA lenders. M&T Bank approved 1,832 SBA 7(a) loans for a total of $207.8 million in fiscal year 2024, which ended Sep ...

Analysts on Wall Street project that M&T Bank Corporation (MTB) will announce quarterly earnings of $3.60 per share in its forthcoming report, representing a decline of 11.1% year over year. Revenues are projected to reach $2.3 billion, declining 1.4% from the same quarter last year. Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during thi ...

M&T Bank Corporation (MTB) is slated to report third-quarter 2024 results on Oct. 17, before the opening bell. The company is expected to have registered year-over-year declines in quarterly revenues and earnings. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. In the last reported quarter, M&T Bank's results benefited from a rise in loans and leases and higher deposits. A decline in net interest income (NII), non-interest income and higher expenses were headwinds. Quarterly earnin ...