Every material Form 8-K M&T Bank filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
M&T Bank Corporation reported third-quarter 2024 net income of $721 million, or $4.02 per diluted share, up from $655 million and $3.73 per share in the second quarter and from $690 million and $3.98 per share a year earlier. Its CET1 capital ratio rose to an estimated 11.54% and the company repurchased $200 million of its common stock, which supports per-share results and capital for shareholders.
Diluted EPS was $4.02 in the third quarter of 2024, compared with $3.73 in the second quarter and $3.98 in the third quarter of 2023.
Provision for credit losses fell to $120 million from $150 million in the second quarter, and nonaccrual loans declined to 1.42% of loans from 1.50%.
Net interest margin widened to 3.62% from 3.59% in the second quarter, while net interest income was $1,726 million.
M&T repurchased 1,190,054 shares for $200 million in the quarter and declared $1.35 per common share in cash dividends.
M&T Bank reported second quarter 2024 net income of $655 million, or $3.73 per diluted share, up from $3.02 in the first quarter but down 25% from $867 million a year earlier. Net operating income was $665 million, or $3.79 per diluted share, versus $879 million a year earlier, and the company's CET1 capital ratio rose to an estimated 11.44%.
Diluted EPS of $3.73 compared with $3.02 in Q1 2024 and $5.05 in Q2 2023
Net interest income of $1,718 million, up from $1,680 million in Q1 2024 but down from $1,799 million in Q2 2023
Noninterest income fell to $584 million from $803 million a year earlier
Nonaccrual loans declined to $2.0 billion at June 30, 2024, and CET1 capital ratio reached an estimated 11.44%
M&T Bank Corporation said Senior Executive Vice President Darren J. King will leave the company effective August 10, 2024. The filing does not give a reason for the departure or name a successor.
Darren J. King, Senior Executive Vice President, will separate from the company.
Separation takes effect August 10, 2024.
Announced June 26, 2024 in a filing signed by Chief Legal Officer Laura O'Hara.
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.
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
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.
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.
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Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every M&T Bank filing is on SEC EDGAR ↗. 8-K briefs of other companies →