Zach Westerlind's questions to M&T Bank Corp (MTB) leadership • Q3 2024
Question
On behalf of Erika Najarian, Zach Westerlind asked if the projected Q4 expense increase is temporary or part of a new run rate, and inquired about the bank's through-the-cycle charge-off expectations.
Answer
CFO Daryl Bible explained the Q4 expense increase is a mix of both run-rate items, like new data centers coming online, and temporary project expenses. He reiterated that M&T's historical through-the-cycle charge-off rate is 34 basis points but noted this could trend higher as the loan portfolio mix shifts towards more consumer loans as part of a broader diversification strategy.