M&T BANK CORP

For the period ended Jun 30, 2024. Filed Aug 5, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 5, 2024

MTB$222.73+2.3%Stored close · as of Nov 9, 2026

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Contents

CONSOLIDATED STATEMENT OF INCOME –

CONSOLIDATED STATEMENT OF INCOME (Unaudited)

	Three Months Ended June 30,		Six Months Ended June 30,
(Dollars in millions, except per share, shares in thousands)	2024	2023	2024	2023
Interest income
Loans and leases, including fees	$2,128	$1,998	$4,225	$3,848
Investment securities:
Fully taxable	244	199	456	381
Exempt from federal taxes	16	16	32	33
Deposits at banks	400	302	819	579
Other	1	1	2	2
Total interest income	2,789	2,516	5,534	4,843
Interest expense
Savings and interest-checking deposits	618	369	1,233	646
Time deposits	217	150	442	239
Short-term borrowings	69	96	153	154
Long-term borrowings	167	102	308	187
Total interest expense	1,071	717	2,136	1,226
Net interest income	1,718	1,799	3,398	3,617
Provision for credit losses	150	150	350	270
Net interest income after provision for credit losses	1,568	1,649	3,048	3,347
Other income
Mortgage banking revenues	106	107	210	192
Service charges on deposit accounts	127	119	251	232
Trust income	170	172	330	366
Brokerage services income	30	25	59	49
Trading account and other non-hedging derivative gains	7	17	16	28
Gain (loss) on bank investment securities	(8)	1	(6)	1
Other revenues from operations	152	362	304	522
Total other income	584	803	1,164	1,390
Other expense
Salaries and employee benefits	764	738	1,597	1,546
Equipment and net occupancy	125	129	254	256
Outside data processing and software	124	106	244	212
Professional and other services	91	100	176	225
FDIC assessments	37	28	97	58
Advertising and marketing	27	28	47	59
Amortization of core deposit and other intangible assets	13	15	28	32
Other costs of operations	116	149	250	264
Total other expense	1,297	1,293	2,693	2,652
Income before taxes	855	1,159	1,519	2,085
Income taxes	200	292	333	516
Net income	$655	$867	$1,186	$1,569
Net income available to common shareholders
Basic	$626	$841	$1,131	$1,516
Diluted	626	841	1,131	1,516
Net income per common share
Basic	3.75	5.07	6.79	9.09
Diluted	3.73	5.05	6.76	9.06
Average common shares outstanding
Basic	166,951	165,842	166,705	166,782
Diluted	167,659	166,320	167,372	167,359

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.