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Sep 30, 2020
M&T Bank Q3 2020 Earnings Report
M&T Bank's Q3 2020 results reflected an uptick in economic activity and well-controlled expenses.
Key Takeaways
M&T Bank Corporation reported GAAP diluted earnings per common share of $2.75 for the third quarter of 2020, compared to $3.47 in the third quarter of 2019. GAAP-basis net income was $372 million, compared to $480 million in the prior year.
Diluted earnings per common share were $2.75 in the third quarter of 2020, compared with $3.47 in the year-earlier quarter.
GAAP-basis net income was $372 million in the recent quarter, $480 million in the third quarter of 2019.
Taxable-equivalent net interest income totaled $947 million in the recent quarter, compared with $1.04 billion in the third quarter of 2019.
The provision for credit losses totaled $150 million in the third quarter of 2020, up from $45 million in the year-earlier quarter.
M&T Bank
M&T Bank
M&T Bank Revenue by Segment
Revenue by Segment
Mortgage banking Revenue
CapyFin.comDeposit service charges Revenue
CapyFin.comTrust income Revenue
CapyFin.comBrokerage services Revenue
CapyFin.comTrading & FX gains Revenue
CapyFin.comOther income Revenue
CapyFin.com Forward Guidance
M&T remains well-positioned as it enters the final quarter of 2020.
Positive Outlook
- Uptick in economic activity across large portions of customer base.
- Higher transaction levels.
- Robust mortgage banking revenues.
- Well-controlled expenses that were in line with expectations.
- Prudent loan loss provisioning.