M&T Bank beats estimates on earnings and revenue

BUFFALO, N.Y. - M&T Bank Corporation (NYSE:MTB) reported first quarter results that exceeded analyst expectations, with adjusted earnings per share of $4.18 compared to the consensus estimate of $4.01. Revenue of $2.44 billion also topped the $2.43 billion analyst forecast.

The bank’s stock showed no movement in pre-market trading following the announcement.

The Buffalo-based bank posted net income of $664 million, or $4.13 per diluted share on a GAAP basis, up 14% from $584 million in the same quarter last year.

Revenue increased 3% YoY from $2.32 billion in the first quarter of 2025.

Net interest margin expanded to 3.71% from 3.66% in the prior-year quarter, reflecting lower funding costs that outpaced declining yields on earning assets.

M&T repurchased $1.25 billion of common stock during the quarter, acquiring 5.5 million shares under its capital plan. The company’s Common Equity Tier 1 capital ratio declined to an estimated 10.33% from 10.84% in the prior quarter, primarily due to the significant buyback activity.

"M&T continued to produce strong operating results and return capital to its shareholders in the recent quarter while investing in its businesses and expanding its operational capabilities," said Daryl N. Bible, Chief Financial Officer.

Average loans grew 1% from the fourth quarter to $138.4 billion, driven by commercial and industrial loan growth of $1.5 billion, partially offset by declines in commercial real estate and consumer loans.

Compared to the first quarter of 2025, average loans increased 3%.

The provision for credit losses totaled $140 million, up from $125 million in the prior quarter but down from $130 million a year earlier.

Net charge-offs represented 0.31% of average loans on an annualized basis, improved from 0.54% in the fourth quarter. Nonaccrual loans decreased to $1.24 billion from $1.54 billion a year ago.

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