M&T BANK CORP

For the period ended Sep 30, 2024. Filed Nov 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.

Sep 30, 2024 · Filed Nov 5, 2024

MTB$217.75-0.9%Stored close · as of Nov 6, 2026

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Contents

CONSOLIDATED STATEMENT OF INCOME –

CONSOLIDATED STATEMENT OF INCOME (Unaudited)

	Three Months Ended September 30,		Nine Months Ended September 30,
(Dollars in millions, except per share, shares in thousands)	2024	2023	2024	2023
Interest income
Loans and leases, including fees	$2,153	$2,062	$6,378	$5,910
Investment securities:
Fully taxable	267	198	723	579
Exempt from federal taxes	16	17	48	50
Deposits at banks	348	363	1,167	942
Other	1	1	3	3
Total interest income	2,785	2,641	8,319	7,484
Interest expense
Savings and interest-checking deposits	655	494	1,888	1,140
Time deposits	180	202	622	441
Short-term borrowings	57	69	210	223
Long-term borrowings	167	101	475	287
Total interest expense	1,059	866	3,195	2,091
Net interest income	1,726	1,775	5,124	5,393
Provision for credit losses	120	150	470	420
Net interest income after provision for credit losses	1,606	1,625	4,654	4,973
Other income
Mortgage banking revenues	109	105	319	297
Service charges on deposit accounts	132	121	383	354
Trust income	170	155	500	521
Brokerage services income	32	27	91	76
Trading account and other non-hedging derivative gains	13	9	29	38
Gain (loss) on bank investment securities	(2)	—	(8)	—
Other revenues from operations	152	143	456	664
Total other income	606	560	1,770	1,950
Other expense
Salaries and employee benefits	775	727	2,372	2,273
Equipment and net occupancy	125	131	379	387
Outside data processing and software	123	111	367	323
Professional and other services	88	89	264	314
FDIC assessments	25	29	122	87
Advertising and marketing	27	23	74	82
Amortization of core deposit and other intangible assets	12	15	40	47
Other costs of operations	128	153	378	417
Total other expense	1,303	1,278	3,996	3,930
Income before taxes	909	907	2,428	2,993
Income taxes	188	217	521	734
Net income	$721	$690	$1,907	$2,259
Net income available to common shareholders
Basic	$674	$664	$1,805	$2,180
Diluted	674	664	1,805	2,180
Net income per common share
Basic	4.04	4.00	10.83	13.09
Diluted	4.02	3.98	10.78	13.05
Average common shares outstanding
Basic	166,671	165,909	166,694	166,488
Diluted	167,567	166,570	167,437	167,093

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.