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Mar 31, 2023
M&T Bank Q1 2023 Earnings Report
M&T Bank's first quarter earnings increased due to loan growth and steady credit quality.
Key Takeaways
M&T Bank Corporation reported a strong first quarter with net income nearly doubling from the year-earlier quarter, driven by loan growth, steady credit quality, and a strong liquidity position.
Diluted earnings per common share were $4.01, compared to $2.62 in the year-earlier quarter.
GAAP-basis net income was $702 million, up from $362 million in the first quarter of 2022.
Taxable-equivalent net interest income totaled $1.832 billion, a 102% increase from the previous year.
The provision for credit losses was $120 million, compared to $10 million in the first quarter of 2022.
Revenue by Segment
Forward Guidance
This news release and related conference call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the rules and regulations of the SEC.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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