M&T Bank Q4 2020 Earnings Report
Key Takeaways
M&T Bank Corporation reported GAAP diluted earnings per common share of $3.52 for the fourth quarter of 2020, a slight decrease from $3.60 in the year-earlier quarter but an increase from $2.75 in the third quarter of 2020. GAAP-basis net income was $471 million, down from $493 million in the final quarter of 2019 but up from $372 million in the third quarter of 2020. The results were impacted by the pandemic and low interest rate environment, but the bank experienced growth in mortgage banking and trust businesses.
Diluted earnings per common share were $3.52, compared to $3.60 in Q4 2019.
GAAP-basis net income was $471 million, compared to $493 million in Q4 2019.
Taxable-equivalent net interest income was $993 million, compared to $1.01 billion in Q4 2019.
Provision for credit losses totaled $75 million, compared to $54 million in Q4 2019.
M&T Bank
M&T Bank
M&T Bank Revenue by Segment
Forward Guidance
This news release and related conference call may contain forward-looking statements that are based on current expectations, estimates and projections about M&T's business, management's beliefs and assumptions made by management. Any statement that does not describe historical or current facts is a forward-looking statement, including statements regarding the potential effects of the Coronavirus Disease 2019 (“COVID-19”) pandemic on M&T’s business, financial condition, liquidity and results of operations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income