earnings
confidence high
sentiment positive
materiality 0.70
M&T Bank Q3 net income $721M, EPS $4.02; CET1 ratio rises to 11.54%
M&T BANK CORP
2024-Q3 EPS reported
$10.78
revenue$1,149,000,000
- Net income $721M ($4.02 diluted EPS) vs $655M ($3.73) in Q2 2024; net interest income $1.726B down 3% YoY.
- CET1 capital ratio estimated 11.54%, up from 11.45% in Q2; repurchased 1.19M shares for $200M.
- Provision for credit losses $120M, down from $150M in Q2; net charge-offs $120M vs $137M.
- Nonaccrual loans fell to 1.42% of loans (Q2: 1.50%); net interest margin widened to 3.62% from 3.59%.
- Average loans up $163M QoQ; commercial & industrial loans grew $1.6B, offset by $2.4B decline in CRE.