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Sep 30, 2023
M&T Bank Q3 2023 Earnings Report
Reported net income of $690 million and diluted earnings per common share of $3.98.
Key Takeaways
M&T Bank Corporation reported a net income of $690 million, or $3.98 diluted earnings per common share, for the third quarter of 2023. The bank's capital position remained strong, with the CET1 capital ratio increasing to an estimated 10.94%.
CET1 capital ratio increased to an estimated 10.94%.
Net interest margin narrowed to 3.79% due to rising deposit rates outpacing asset yields.
Average loans and leases decreased 1% due to a decline in commercial real estate loan balances.
Nonaccrual loans improved to 1.77% of loans outstanding.
M&T Bank
M&T Bank
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.