M&T Bank US - MTB STOCK NEWS

M&T Bank (NYSE:MTB) has announced its participation in the upcoming RBC Financial Institutions Conference in New York City. Company representatives will deliver a presentation to investors and analysts on March 5, 2025, at 1:20 p.m. (ET).

The presentation will be accessible via webcast through M&T's investor relations website at https://ir.mtb.com/events-presentations. The company has indicated that the webcast may contain material information for interested parties.

M&T Bank (NYSE:MTB) has announced the appointment of Neeraj Singh as its new Chief Risk Officer (CRO), effective January 31, 2025. Singh will succeed current CRO Mike Todaro, who plans to retire in Q1 2025. Singh joins from USAA, where he served as Chief Risk Officer and executive council member, bringing over 20 years of risk management and financial services experience.

Singh will oversee M&T Bank's risk management strategies and join the Executive Leadership Team, reporting to CEO René Jones and Risk Committee Chairman Bob Sadler. His previous experience includes leadership roles at Citigroup, TD Bank, and Barclays. He holds an undergraduate degree from Birla Institute of Technology and an MBA from the University of Maryland.

The outgoing CRO, Mike Todaro, has served nearly 30 years at M&T Bank, holding the CRO position since 2021. During his tenure, he enhanced the bank's risk management capabilities and led various divisions including Mortgage and Consumer Lending.

M&T Bank (NYSE:MTB) has announced a new $4.0 billion share repurchase program for its common stock, effective January 22, 2025. This program replaces the previous $3.0 billion authorization from July 2022. The repurchases can be executed through open market or private transactions, with timing, volume, and terms at M&T's discretion, subject to regulatory limitations.

Chief Financial Officer Daryl Bible emphasized that this decision reflects the company's commitment to responsible capital management while maintaining support for customers, communities, and business investments. The company's strong earnings and solid capital position enable both operational goals and shareholder returns.

M&T Bank (NYSE:MTB) reported Q4 2024 net income of $681 million, or $3.86 diluted earnings per share, and full-year net income of $2.59 billion, or $14.64 per share. The bank's Common Equity Tier 1 (CET1) capital ratio strengthened to 11.67%, marking the seventh consecutive quarterly increase.

Key Q4 highlights include a net interest margin of 3.58%, down from 3.62% in Q3 2024, and loan growth in commercial, industrial, and consumer segments, offset by reduced commercial real estate loans. The bank repurchased common stock worth $200 million in Q4. Nonaccrual loans improved to 1.25% of total loans, down from 1.42% in Q3 2024.

The provision for credit losses was $140 million in Q4 2024, with net charge-offs at 0.47% of average loans. For the full year 2024, the provision totaled $610 million compared to $645 million in 2023.

M&T Bank (NYSE:MTB) has declared quarterly cash dividends for two series of its perpetual preferred stock. Series H Preferred Stock shareholders will receive $0.3515625 per share, while Series J Preferred Stock holders will get $187.50 per share (equivalent to $0.46875 per depositary share). Both dividends will be payable on March 17, 2025, to shareholders of record as of March 3, 2025.

M&T Bank (NYSE:MTB) has appointed Krista Phillips as its first Chief Customer Officer, effective January 6, 2025. In this newly created role, Phillips will lead the bank's customer experience, marketing, and analytics teams to enhance service delivery and ensure consistent brand presence across M&T's footprint.

Phillips brings over 25 years of financial services experience, most recently serving as Executive Vice President at Wells Fargo, where she led consumer credit cards and enterprise marketing. Previously, she held senior positions at Citi, including Head of Brand Management, Advertising, and Insights for the Global Consumer Bank.

Based in Wilmington, DE, Phillips will report to Chris Kay, M&T's Head of Enterprise Platforms, and join the bank's Executive Leadership Team. Her appointment aims to strengthen M&T's customer-centric approach through data-driven insights and enhanced service capabilities.

M&T Bank (NYSE:MTB) has scheduled the announcement of its fourth quarter and full-year 2024 earnings results. The company will release its financial results via press release before market opening on Thursday, January 16, 2025. Following the release, M&T will host a conference call and webcast at 8:00 a.m. ET to discuss the earnings results.

M&T Bank (NYSE:MTB) has announced a decrease in its prime lending rate. The rate will be reduced from 7.75% to 7.50%, marking a 25 basis points reduction. This change will take effect on Thursday, December 19, 2024.

M&T Bank (NYSE:MTB) has appointed Shannon Lazare as its new New Jersey Regional President. Lazare, who joined M&T in 2013, will lead the bank's local growth and community engagement initiatives throughout New Jersey, succeeding Tom Comiskey who was promoted to Area Executive in the Commercial Bank.

With over 20 years of financial services experience, Lazare will oversee the bank's community engagement, economic development, and charitable initiatives while maintaining her role as Business Banking Regional Manager. M&T Bank maintains a strong presence in New Jersey with 64 branches and has consistently ranked among the top 10 SBA lenders for the past decade. In 2023, the bank's New Jersey Charitable Foundation Committee awarded $2.7 million to more than 175 local nonprofits.