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M&T Bank
🇺🇸 NYSE:MTB
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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.

Total Revenue
$1.46B
Previous year: $1.56B
-6.0%
EPS
$2.75
Previous year: $3.5
-21.4%
Net Interest Margin
2.95%
Efficiency Ratio
56.17%
ROA
1.06%
Cash and Equivalents
$1.49B
Previous year: $1.82B
-18.1%
Total Assets
$139B
Previous year: $126B
+10.5%

M&T Bank

M&T Bank

M&T Bank Revenue by Segment

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.

Company Overview

Full financial data and analysis

View M&T Bank