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 Corporation (MTB) will announce its Q3 2020 earnings results on October 22, 2020, before the market opens. A conference call will follow at 11:00 a.m. ET. Participants can join via toll-free number (877) 780-2276 or international number (973) 582-2700, referencing conference ID #1169149. A replay will be available until October 29, 2020. The conference call will also be accessible through M&T's website. The earnings announcement will contain forward-looking statements and significant information.
M&T Bank Corporation (NYSE:MTB) will participate in the Barclays Global Financial Services Conference virtually on September 16, 2020, at 7:30 a.m. (ET). A live audio-webcast will be available online, and a replay will follow the event. M&T, headquartered in Buffalo, New York, offers banking services across several states, including New York, Maryland, and Virginia. The company also provides trust-related services through its Wilmington Trust-affiliated companies.
M&T Bank Corporation (NYSE: MTB) has declared a quarterly cash dividend of $1.10 per share on its common stock. This dividend will be payable on September 30, 2020, to shareholders of record at the close of business on September 1, 2020.
The declaration reflects M&T's commitment to returning value to its shareholders, maintaining a consistent dividend policy amidst economic conditions.
M&T Bank Corporation (NYSE: MTB) appointed Francesco Lagutaine as Senior Vice President and Chief Marketing and Communications Officer, effective August 17, 2020. Lagutaine has over 20 years of experience in global marketing and financial services, having previously held roles at Manulife and Citibank Asia Pacific. His expertise includes customer-focused marketing strategies and digital marketing. The appointment aims to enhance M&T's customer insights and support the bank's growth ambitions, emphasizing its commitment to better serve its customers.
M&T Bank Corporation (MTB) reported Q2 2020 financial results, revealing a significant drop in earnings. Diluted earnings per share fell to $1.74 from $3.34 in Q2 2019, with net income dropping to $241 million, down 49%. The provision for credit losses increased sharply to $325 million due to COVID-19 impacts. Despite a 13% rise in mortgage banking revenue, overall net interest income decreased by 8% to $961 million. Total assets grew to $139.5 billion, primarily fueled by an increase in loans and deposits, including $6.5 billion from the Paycheck Protection Program.
M&T Bank Corporation (MTB) announced key insights from the 2020 Dodd-Frank Act Stress Test results disclosed by the Federal Reserve.
The bank's preliminary stress capital buffer is set at 2.5%, aligning with a 7.0% Common Equity Tier 1 ratio threshold effective October 1, 2020. As of March 31, 2020, M&T’s Common Equity Tier 1 ratio stood at 9.19%, surpassing the minimum required. The current quarterly dividend of $1.10 is compliant with Federal Reserve guidelines; however, the bank will not repurchase shares during Q3 2020.
M&T Bank has appointed Tracy Woodrow as Chief Human Resources Officer (CHRO) following the retirement of Janet Coletti after 35 years. Woodrow, who joined M&T in 2013 and previously served as the Bank Secrecy Act Officer, will focus on diversity, inclusion, and employee development for over 18,000 colleagues. Coletti was pivotal in successful mergers and employee experience enhancements during her tenure. The bank continues to strengthen its leadership team with a focus on internal growth and transformation.
M&T Bank Corporation (NYSE: MTB) announced the election of Calvin G. Butler, Jr., the CEO of Exelon Utilities, to its Board of Directors, effective June 16, 2020. Mr. Butler brings extensive experience, having previously served as CEO of Baltimore Gas and Electric Company and held various high-level positions at Exelon. His election aims to enhance the board's perspectives and support M&T's commitment to inclusive opportunities in Baltimore and beyond. Butler's leadership is expected to align with M&T's mission to deliver strong financial and operational performance.
M&T Bank Corporation (NYSE:MTB) is set to announce its second quarter 2020 earnings results on July 23, 2020, before the market opens. Following this, the company will host a conference call at 11:00 a.m. ET to discuss the results, which may contain forward-looking statements. Domestic participants can call toll-free at (877) 780-2276, while international participants can dial (973) 582-2700. A replay will be available until July 30, and the webcast archive will be accessible on M&T's website from 3:00 p.m. ET on the same day.
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