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Dec 31, 2022
M&T Bank Q4 2022 Earnings Report
M&T Bank's Q4 2022 earnings increased compared to the previous quarter and the year-ago quarter.
Key Takeaways
M&T Bank Corporation reported a strong fourth quarter and full-year results for 2022, with diluted earnings per common share reaching $4.29, up from $3.37 in the year-earlier quarter. Net income for the quarter was $765 million, a significant increase from $458 million in Q4 2021. The bank's performance was boosted by the integration of People's United Financial, Inc., expansion of the net interest margin, and solid growth in commercial loan balances.
Diluted earnings per common share were $4.29, up from $3.37 in Q4 2021.
GAAP-basis net income was $765 million, compared to $458 million in Q4 2021.
Taxable-equivalent net interest income totaled $1.84 billion, up from $937 million in Q4 2021.
Net interest margin increased to 4.06% from 2.58% in the year-earlier quarter.
Forward Guidance
M&T Bank's CFO, Darren J. King, noted that the integration of People's United, expansion of the net interest margin, and solid growth in commercial loan balances position M&T to continue its strong performance into 2023.
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