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 (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 April 15, 2024.
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.