M&T(US:MTB)2024-07-18 12:13Financial Performance - Net Operating Return on Average Tangible Common Equity (ROTCE) increased by 260 basis points Quarter-over-Quarter (QoQ)[71] - Tangible Book Value per Share increased by 3% QoQ to $10242[43] - Diluted Earnings Per Share (EPS) increased by 24% QoQ[105] Balance Sheet - Total loans increased by 1% QoQ to $1346 billion[6] - Consumer loans rose by 4% QoQ, an increase of $829 million, driven by growth in recreational finance and indirect auto[8] - Commercial Real Estate (CRE) loans declined by 4% QoQ, a decrease of $12 billion[109] - Average deposits decreased by less than 05% QoQ, a decrease of $574 million[10] - Noninterest-bearing deposits declined by $881 million, primarily commercial deposits[10] Income Statement - Taxable-equivalent net interest income increased by 2% QoQ, an increase of $39 million[94] - Noninterest expense decreased by 7% QoQ, a decrease of $99 million[141] - Salaries and employee benefits expense decreased by 8% QoQ, a decrease of $69 million[135] Asset Quality - Provision for Credit Losses declined by 25% QoQ[76]