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Jun 30, 2024
M&T Bank Q2 2024 Earnings Report
M&T Bank reported a net income of $655 million for Q2 2024.
Key Takeaways
M&T Bank Corporation reported a net income of $655 million, or $3.73 per diluted common share, for the second quarter of 2024. The CET1 capital ratio increased to an estimated 11.44%. Net interest margin widened to 3.59%. Growth in commercial and industrial and consumer loans was partially offset by a decline in commercial real estate loans. Credit metrics improved, and liquidity and capital positions remained strong.
CET1 capital ratio increased for the fifth consecutive quarter to an estimated 11.44%.
Net interest margin of 3.59% widened from 3.52% in the first quarter of 2024.
Growth in average commercial and industrial loans and consumer loans was partially offset by a decline in average commercial real estate loans.
Average customer deposits grew as funding shifted from wholesale sources to lower cost customer savings and interest-checking deposits.
Revenue by Segment
Forward Guidance
M&T Bank's forward-looking statements involve risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated. Factors include economic conditions, changes in interest rates, credit losses, regulatory supervision, and technological developments.
Positive Outlook
- Ability to contain costs and expenses.
- Continued availability of financing.
- Increasing price, product and service competition by competitors, including new entrants.
- The ability to continue to introduce competitive new products and services on a timely, cost-effective basis.
- M&T's capital ratios remained well above the minimum set forth by regulatory requirements.
Challenges Ahead
- Economic conditions and growth rates, including inflation and market volatility.
- Changes in interest rates, spreads on earning assets and interest-bearing liabilities, and interest rate sensitivity.
- Prepayment speeds, loan originations, loan concentrations by type and industry, credit losses and market values on loans, collateral securing loans, and other assets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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