M&T Bank Q3 net income $690 million, $3.98 a share, down from second quarter
M&T Bank reported third quarter 2023 net income of $690 million, or $3.98 per diluted share, down from $867 million and $5.05 in the second quarter but up from $647 million and $3.53 a year earlier. The sequential drop mainly reflects a $225 million gain on the sale of its Collective Investment Trust business in the second quarter, and the company did not repurchase any shares in the quarter.
Key points
- Net income $690 million vs. $867 million in Q2 2023 and $647 million in Q3 2022
- Diluted EPS $3.98 vs. $5.05 in Q2 2023 and $3.53 in Q3 2022; diluted net operating EPS $4.05, up 6% from $3.83 a year earlier
- Net interest margin narrowed to 3.79% from 3.91% in Q2 2023; nonaccrual loans fell to 1.77% of loans from 1.83%
- Estimated CET1 capital ratio rose to 10.94% from 10.59%; no share repurchases in Q3 2023
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:10 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 18, 2023.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.