Welcome to our dedicated page for M&T Bank news (Ticker: MTB), a resource for investors and traders seeking the latest updates and insights on M&T Bank stock.
M&T Bank Corporation (NYSE: MTB) is one of the 20 largest commercial bank holding companies in the United States, serving over two million consumer households and commercial clients through more than 700 branches and with a workforce of over 15,000 employees. Founded over 150 years ago in Buffalo, N.Y., M&T Bank is known for its strong regional presence and commitment to community banking.
M&T Bank offers a comprehensive range of financial services including commercial and consumer banking, lending, and wealth management. The bank's principal subsidiary, M&T Bank, operates across 12 states from Maine to Virginia and Washington, D.C., focusing on commercial real estate, commercial-related lending, and retail operations. Through its affiliate, Wilmington Trust, M&T also provides premier wealth management and corporate trust solutions.
In recent financial announcements, M&T Bank reported a quarterly net income of $531 million for Q1 2024, reflecting solid earnings growth and prudent expense management. The company has demonstrated strong liquidity and capital positions, maintaining stability in its deposit base and increasing levels of borrowings. Additionally, M&T has been actively involved in managing its commercial real estate exposure while continuing to grow its commercial and consumer loan portfolios.
Key recent achievements include M&T Realty Capital Corporation's record 2023 production volume for the Seniors Housing Team, with significant financing of $575 million in closed loans. Moreover, M&T successfully refinanced a 371-unit seniors housing and healthcare facility with a $105 million Freddie Mac loan. The company continues to focus on strategic growth and maintaining strong customer relationships.
On the technological front, M&T has made advancements in its internal profitability reporting to align with organizational changes and enhance its management reporting system. This realignment into three reportable segments—Commercial Bank, Retail Bank, and Institutional Services and Wealth Management—aims to provide better insights and operational efficiency.
M&T Bank is committed to building and maintaining public trust through prudent lending and support for civic institutions. The company emphasizes the importance of trust in its operations, which is evident in its longstanding tradition of providing transparent and insightful communication to shareholders.
For more information, visit the company's website or follow their latest updates and announcements on their Investor Relations page.
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.
M&T Bank (NYSE: MTB) has appointed Lopa Kolluri as Head of Affordable Housing Lending, a new role within its Commercial Bank. Kolluri will oversee the development and management of the Affordable Housing vertical, executing business strategy and establishing operational processes. She aims to strengthen existing relationships and establish new regional and national customers.
Kolluri brings over 25 years of experience in affordable housing and community development. Previously, she served as Senior Vice President in M&T's Commercial Real Estate Innovation Office and held a leadership position at the U.S. Department of Housing and Urban Development, overseeing $1.2 trillion in insured mortgages.
This appointment reinforces M&T Bank's commitment to expanding its affordable housing initiatives and providing comprehensive financing solutions to meet client needs and create community impact.
M&T Bank (NYSE:MTB) reported Q2 2024 net income of $655 million, or $3.73 diluted earnings per share, up from $531 million or $3.02 per share in Q1 2024. Key highlights include:
- Net interest income rose to $1.718 billion from $1.680 billion in Q1
- Net interest margin improved to 3.59% from 3.52% in Q1
- CET1 capital ratio increased to an estimated 11.44%, up 36 basis points from Q1
- Average loans and leases grew by $792 million from Q1
- Provision for credit losses decreased to $150 million from $200 million in Q1
The results reflect loan growth, improved credit metrics, and a strong capital position. M&T's stress capital buffer is estimated to decrease to 3.8% effective October 1, 2024.
M&T Bank (NYSE:MTB) has announced quarterly cash dividends for its perpetual preferred stock. For its Perpetual Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series H, the dividend is set at $0.3515625 per share, payable on September 16, 2024, to shareholders of record as of September 3, 2024.
Additionally, the bank declared a dividend of $254.17 per share (equivalent to $0.635425 per depositary share) on its Perpetual 7.500% Non-Cumulative Preferred Stock, Series J, also payable on September 16, 2024, to shareholders of record at the close of business on September 3, 2024.
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