secwatch.observer — SEC 8-K summary
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Issuer:     M&T BANK CORP (MTB)
CIK:        0000036270
Form:       8-K
Filed at:   2024-04-15T23:59:59+00:00
Accession:  0001628280-24-016126
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

M&T Bank Q1 net income $531M, EPS $3.02; provision for credit losses up to $200M
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- Net income $531M ($3.02 diluted EPS) vs $702M ($4.01) in Q1 2023; CET1 ratio improved to 11.07%.
- Net interest income (taxable-equivalent) $1.692B, down 8% YoY; net interest margin 3.52% vs 4.04%.
- Provision for credit losses $200M (up 67% YoY); net charge-offs $138M (annualized 0.42% of avg loans).
- Nonaccrual loans $2.3B, up 6% from prior quarter; allowance for credit losses 1.62% of loans.
- Expenses $1.396B included $29M incremental FDIC special assessment; efficiency ratio 60.8%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36270/000162828024016126/0001628280-24-016126-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36270/000162828024016126/mbt-20240415.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-016126

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