M&T Bank Corp. - MTB STOCK NEWS

Wilmington Trust, a subsidiary of M&T Bank (MTB), has appointed Lisa Roberts as the new Head of Wealth Management, effective immediately. Roberts, who previously served as Head of U.S. Markets for the Wealth division, succeeds Doris Meister and joins M&T Bank's Enterprise Leadership Team. With over 30 years of banking and wealth management experience, Roberts previously held leadership positions at Union Bank, Citi Private Bank, Bank of America, and Wells Fargo Private Bank. Based in New York City, she will be responsible for setting the strategic direction for Wilmington Trust's Wealth operations, which serves high- and ultra-high-net-worth individuals, families, entrepreneurs, and institutions.

M&T Bank (NYSE: MTB) has announced its participation in the upcoming BancAnalysts Association of Boston Conference in Boston, MA. Company representatives will present to investors and analysts on November 8, 2024, at 7:30 a.m. (ET) at The Langham Boston. The presentation will be accessible via webcast through M&T's investor relations website, potentially containing material information for stakeholders.

M&T Bank (NYSE:MTB) reported third quarter 2024 results with net income of $721 million or $4.02 diluted earnings per common share. Key highlights include:

- Net interest income of $1,726 million
- Provision for credit losses of $120 million
- Noninterest income of $606 million
- Noninterest expense of $1,303 million
- Return on average assets of 1.37% (annualized)
- Return on average common shareholders' equity of 10.26% (annualized)

The CET1 capital ratio rose to an estimated 11.54%, marking the sixth consecutive quarterly increase. M&T repurchased shares for a total cost of $200 million in Q3 2024. The net interest margin widened to 3.62% from 3.59% in Q2 2024, reflecting higher yields on investment securities and lower funding costs.

M&T Bank (NYSE:MTB) has announced quarterly cash dividends on two series of its perpetual preferred stock. For Series H Preferred Stock, a dividend of $0.3515625 per share will be paid on December 16, 2024, to shareholders of record as of December 2, 2024. For Series J Preferred Stock, a dividend of $187.50 per share (equivalent to $0.46875 per depositary share) will be paid on the same date to shareholders of record as of December 2, 2024. These dividend declarations demonstrate M&T's commitment to providing returns to its preferred stockholders.

M&T Bank (NYSE:MTB) has ranked as the 10th-largest SBA lender in the United States for the 16th consecutive year. In fiscal year 2024, the bank approved 1,832 SBA 7(a) loans totaling $207.8 million, with an average loan size of $113,432. M&T Bank maintained its position as the leading small-business lender in several markets within its 12-state footprint, including Baltimore, Buffalo/Rochester, Connecticut, Delaware, Syracuse, and Washington, D.C.

The bank experienced significant growth in New England markets, with SBA loan values increasing by 58% in the region. M&T Bank also ranked 6th nationally as a third-party lender for SBA 504 program loans, approving 66 loans worth $57.96 million. The bank's commitment to supporting small businesses was evident through success stories from clients like Brick Auto Body in New Jersey and Alliance Commodity /Northern Food Service Inc. in Massachusetts.

M&T Bank (NYSE:MTB) has announced a decrease in its prime lending rate from 8.50% to 8.00%. This change will take effect on Thursday, September 19, 2024. The prime rate reduction of 50 basis points is a significant move that could impact various financial products and services offered by M&T Bank, including loans and credit lines. This adjustment may reflect changes in the broader economic environment and monetary policy decisions.

M&T Bank (NYSE: MTB) has announced its plans to release third quarter 2024 earnings results on Thursday, October 17, 2024, before the market opens. Following the release, the company will host a conference call and webcast at 8:00 a.m. ET to discuss the earnings results. This announcement provides investors and analysts with a scheduled opportunity to review and discuss M&T's financial performance for the quarter. The timing of the release, before market open, allows for immediate market reaction to the results.

M&T Bank (NYSE:MTB) has declared a quarterly cash dividend of $1.35 per share on its common stock. The dividend is payable on September 30, 2024, to shareholders of record at the close of business on September 3, 2024. This announcement demonstrates M&T's commitment to providing regular returns to its shareholders, maintaining its dividend policy despite current market conditions. The declaration of a consistent dividend may indicate the company's confidence in its financial stability and future prospects.

M&T Bank (NYSE:MTB) has announced its participation in the Barclays Global Financial Services Conference in New York City. The company's representatives are set to deliver a presentation to investors and analysts on September 11, 2024, at 8:15 a.m. (ET).

A webcast of the presentation will be available through M&T's investor relations website. This event may provide valuable insights into M&T's financial performance, strategies, and outlook. Interested parties can access the webcast link at https://ir.mtb.com/events-presentations. The company notes that the presentation may contain important information for stakeholders.