The X-News Explorer is the ultimate source of information for investors with an affinity for the stock market who want to get a quick and convenient overview of the current news situation of a listed company. Various newswire services are available here. If a news alert is displayed, you will find company news that may be of interest to you. This service is provided by PR-Newswire.
BUFFALO, N.Y., Sept. 18, 2024 /PRNewswire/ -- Effective Thursday, September 19, 2024, M&T Bank Corporation ("M&T") (NYSE:MTB) will decrease its prime lending rate from 8.50% to 8.00%.
About M&T (www.mtb.com)
M&T is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, Manufacturers and Traders Trust Company ("M&T Bank"), provides banking products and services in 12 states across the northeastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank.
BUFFALO, N.Y., Sept. 5, 2024 /PRNewswire/ -- M&T Bank Corporation ("M&T") (NYSE: MTB) plans to announce its third quarter 2024 earnings results in a press release that will be issued before the market opens on Thursday, October 17, 2024.
Following the release, M&T will conduct a conference call and webcast at 8:00 a.m. (ET) to discuss the earnings results. The conference call and webcast may contain forward-looking statements and other material information.
BUFFALO, N.Y., Aug. 20, 2024 /PRNewswire/ -- M&T Bank Corporation ("M&T") (NYSE:MTB) announced that it has declared a quarterly cash dividend of $1.35 per share on its common stock. The dividend will be payable September 30, 2024, to shareholders of record at the close of business on September 3, 2024.
About M&TM&T is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services in 12 states across the northeastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank.
BUFFALO, N.Y., Aug. 14, 2024 /PRNewswire/ -- M&T Bank Corporation ("M&T") (NYSE:MTB) will participate in the Barclays Global Financial Services Conference being held in New York City. Representatives of M&T are scheduled to deliver a presentation to investors and analysts on September 11, 2024, at 8:15 a.m. (ET).
A link to the webcast will be available at https://ir.mtb.com/events-presentations. The webcast may contain material information as well as forward-looking information, and cautionary statements regarding such forward-looking information will be available on the webcast link.
Updates to M&T's Affordable Housing Platform Reinforce Bank's Commitment to its Clients and Communities
NEW YORK, Aug. 12, 2024 /PRNewswire/ -- M&T Bank (NYSE: MTB) today announced that it has appointed Lopa Kolluri as Head of Affordable Housing Lending. In this new role, Kolluri is responsible for the development, oversight, and day-to-day management of the Affordable Housing vertical within M&T's Commercial Bank. Kolluri will execute M&T's affordable housing business strategy and establish operational processes and governance structures to ensure the efficient delivery of first-rate customer service to its affordable housing clients. In addition, she will continue to strengthen the M&T's existing affordable housing relationships while establishing new regional and national customers to generate additional business opportunities.
BUFFALO, N.Y., July 18, 2024 /PRNewswire/ -- M&T Bank Corporation ("M&T" or "the Company") reports quarterly net income of $655 million or $3.73 of diluted earnings per common share.
(Dollars in millions, except per share data)
2Q24
1Q24
2Q23
Earnings Highlights
Net interest income
$ 1,718
$ 1,680
$ 1,799
Taxable-equivalent adjustment
13
12
14
Net interest income - taxable-equivalent
1,731
1,692
1,813
Provision for credit losses
150
200
150
Noninterest income
584
580
803
Noninterest expense
1,297
1,396
1,293
Net income
655
531
867
Net income available to common shareholders - diluted
626
505
841
Diluted earnings per common share
3.73
3.02
5.05
Return on average assets - annualized
1.24 %
1.01 %
1.70 %
Return on average common shareholders' equity - annualized
9.95
8.14
14.27
Average Balance Sheet
Total assets
$ 211,981
$ 211,478
$ 204,376
Interest-bearing deposits at banks
29,294
30,647
23,617
Investment securities
29,695
28,587
28,623
Loans and leases, net of unearned discount
134,588
133,796
133,545
Deposits
163,491
164,065
159,399
Borrowings
16,452
16,001
15,055
Selected Ratios
(Amounts expressed as a percent, except per share data)
Net interest margin
3.59 %
3.52 %
3.91 %
Efficiency ratio
55.3
60.8
48.9
Net charge-offs to average total loans - annualized
.41
.42
.38
Allowance for credit losses to total loans
1.63
1.62
1.50
Nonaccrual loans to total loans
1.50
1.71
1.83
Common equity Tier 1 ("CET1") capital ratio (1)
11.44
11.08
10.59
Common shareholders' equity per share
$ 153.57
$ 150.90
$ 143.41
BUFFALO, N.Y., July 10, 2024 /PRNewswire/ -- M&T Bank Corporation ("M&T") (NYSE:MTB) announced that it has declared quarterly cash dividends on the following series of perpetual preferred stock:
A dividend of $0.3515625 per share on its Perpetual Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series H ("Series H Preferred Stock"), payable September 16, 2024 to shareholders of record at the close of business on September 3, 2024.A dividend of $254.17 per share (equivalent to $0.635425 per depositary share) on its Perpetual 7.500% Non-Cumulative Preferred Stock, Series J ("Series J Preferred Stock"), payable September 16, 2024 to shareholders of record at the close of business on September 3, 2024.BUFFALO, N.Y., June 28, 2024 /PRNewswire/ -- M&T Bank Corporation ("M&T" or the "Company") (NYSE: MTB) today announced the Federal Reserve Board has determined the Company's preliminary stress capital buffer ("SCB") requirement is 3.8%, down from 4.0% previously. The Federal Reserve Board will provide the Company's final SCB requirement on or before Aug. 31, 2024. Once finalized, the new SCB requirement will be in effect beginning on October 1, 2024.
The Company's regulatory minimum CET1 ratio implied by the preliminary SCB is now 8.3%, down from 8.5%. M&T expects the second quarter 2024 CET1 ratio to be over 11.35%.