M&T Bank Q4 net income falls to $482 million, or $2.74 a share, from $690 million
M&T Bank reported fourth-quarter 2023 net income of $482 million, or $2.74 per diluted share, down from $690 million and $3.98 in the third quarter and from $765 million and $4.29 a year earlier. The quarter included a $197 million FDIC special assessment, and net interest margin narrowed to 3.61% from 3.79%. For the full year, net income rose to $2.74 billion, or $15.79 per diluted share, from $1.99 billion and $11.53 in 2022.
Key points
- Q4 2023 net income was $482 million, or $2.74 per diluted share, versus $690 million and $3.98 in Q3 2023 and $765 million and $4.29 in Q4 2022.
- Q4 noninterest expense included a $197 million FDIC special assessment, or $0.88 per diluted share after tax.
- Provision for credit losses rose to $225 million from $150 million in Q3 2023, citing pressure on investor-owned commercial real estate borrowers.
- Full-year 2023 net income was $2.74 billion, or $15.79 per diluted share, versus $11.53 in 2022; net operating earnings per share were $16.08 versus $14.42.
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 January 18, 2024.
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