M&T Bank Q1 2024 net income fell 24% to $531 million; diluted EPS $3.02
M&T Bank Corporation reported first quarter 2024 net income of $531 million, or $3.02 per diluted share, down from $702 million and $4.01 a year earlier but up from $482 million and $2.74 in the fourth quarter of 2023. Net interest income fell 8% from a year earlier as funding costs rose, and provisions for credit losses increased, which weighed on earnings for shareholders.
Key points
- Net income was $531 million versus $702 million in Q1 2023, a 24% decline; diluted EPS was $3.02 versus $4.01
- Net operating income was $543 million, or $3.09 per diluted share, versus $715 million, or $4.09, a year earlier
- Net interest margin was 3.52% versus 4.04% a year earlier; provision for credit losses was $200 million versus $120 million
- Expenses included a $29 million estimated increase in the FDIC special assessment; the company did not repurchase shares in Q1 2024
The filing
Written by AI on Nov 8, 2026, 1:10 AM ET, from this filing 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 April 15, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.