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 (NYSE: MTB) will participate in the RBC Capital Markets Global Financial Institutions Conference in New York City on March 8, 2023, at 9:20 a.m. (ET). Company representatives will present to investors and analysts, providing key insights into their financial strategies and performance. A live webcast will be accessible at https://ir.mtb.com/events-presentations, which may include material and forward-looking information, along with cautionary statements. Headquartered in Buffalo, New York, M&T operates in 12 eastern U.S. states from Maine to Virginia, offering comprehensive banking services.
M&T Bank Corporation (NYSE:MTB) announced a quarterly cash dividend increase to $1.30 per share, marking an 8% rise from the previous $1.20 per share. This dividend will be payable on March 31, 2023, to shareholders on record as of March 6, 2023. The increase reflects M&T's continued confidence in its financial health and commitment to returning value to shareholders.
Servotronics, Inc. (NYSE: SVT) has appointed Brent D. Baird to its Board of Directors, effective February 16, 2023. Baird, who holds approximately 10.9% of the company's common stock, joins as part of a Cooperation Agreement and is expected to enhance shareholder value with his significant business expertise. This change follows the resignation of Lucion P. Gygax on February 14, 2023, continuing the Board's refreshment strategy. The Cooperation Agreement includes customary voting provisions lasting until June 30, 2024. The company highlights its dual focus on advanced manufacturing and consumer products.
M&T Bank Corporation (NYSE: MTB) celebrated Black History Month by ringing the opening bell at the New York Stock Exchange on February 10, 2023. CEO Rene Jones emphasized the bank's commitment to diversity, equity, and inclusion across all operations. The ceremony honored African American contributions to history and culture, reinforcing the bank's role in promoting these values. M&T Bank's employee resource groups, including the African American Resource Group with over 1,400 members, are part of its community engagement efforts aimed at professional development and inclusion. This event underscores the bank's ongoing dedication to creating an inclusive environment.
M&T Bank (NYSE:MTB) announced an increase in its prime lending rate effective February 2, 2023, raising it from 7.50% to 7.75%. This adjustment reflects the bank's response to the current economic environment. M&T Bank operates primarily in the eastern U.S., providing various banking services across twelve states from Maine to Virginia.
M&T Bank Corporation (MTB) reported strong financial results for Q4 2022, with diluted earnings per share of $4.29, up 27% from Q4 2021. Net income reached $765 million, a 67% increase year-over-year. The bank's annualized return on average common equity improved to 12.59%. Notably, M&T completed the acquisition of People's United, incurring $580 million in merger-related expenses. The company also recorded a $136 million gain from the sale of its insurance subsidiary. However, diluted earnings per share for 2022 fell to $11.53 from $13.80 in 2021. Total assets grew to $200.7 billion, reflecting the impact of the acquisition.
M&T Bank Corporation (NYSE: MTB) has declared a quarterly cash dividend of $0.3515625 per share on its Perpetual Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series H. This dividend is payable on March 15, 2023, to shareholders recorded at the close of business on March 1, 2023. M&T Bank operates across 12 states in the northeastern U.S., including services from Maine to Virginia.
M&T Bank Corporation (NYSE: MTB) announced the election of Carlton J. Charles to its Board of Directors on January 18, 2023. Mr. Charles, Senior Vice President of Treasury and Risk Management at Hearst, also joins the Nomination and Governance Committee. His extensive experience includes overseeing Hearst’s risk management and launching the Hearst Risk Summit. Charles has previously worked at Moody’s Corporation and holds degrees from the University of Chicago and Stony Brook University. M&T’s Chairman, René F. Jones, highlighted Charles' financial expertise and commitment to diversity as valuable assets for the bank's leadership.
M&T Bank Corporation (MTB) will announce its fourth quarter and full-year 2022 earnings results on January 19, 2023, before the market opens. Following the release, a conference call and webcast will take place at 11:00 a.m. ET to discuss the results, which may include forward-looking statements. Investors can participate by dialing 800-225-9448 for domestic calls or 203-518-9708 for international calls. A replay will be available until January 26, 2023.
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