MTB is a financial services company that operates through three main business segments, providing a range of banking and financial services. The company offers credit products and banking services to commercial customers, as well as deposit and credit services to consumers and small businesses . Additionally, MTB provides trustee, agency, investment management, and administrative services for corporations and high net worth individuals . Interest on loans and deposits at banks are significant sources of income, contributing to a diversified revenue base .
- Commercial Bank - Provides credit products and banking services to middle-market and large commercial customers, including commercial lending, leasing, and real estate loans, as well as deposit products and cash management services .
- Retail Bank - Offers services to consumers and small businesses, such as deposit products, credit services including auto and home equity loans, and residential mortgage loans .
- Institutional Services and Wealth Management - Provides trustee, agency, investment management, and administrative services for corporations and high net worth individuals, including investment products like mutual funds and annuities .
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Kevin J. Pearson ExecutiveBoard | Vice Chairman | Director of Wilmington Trust Company, WT Investment Advisors, Wilmington Funds Management, WTIM, Wilmington Trust, N.A., and PUA; Director of WTAM | Kevin J. Pearson has been with M&T Bank since 1989 and has held various management positions. He oversees the Commercial Banking and Institutional Services and Wealth Management Divisions. | |
Renée F. Jones ExecutiveBoard | Chairman of the Board and Chief Executive Officer | Director and Audit Committee Member at ACV Auctions Inc.; Director and Member of the Audit and Risk Committee of the Federal Reserve Bank of New York; Vice Chair of the Board of the Bank Policy Institute; Steward for the Council for Inclusive Capitalism; Board of Trustees Member at Boston College; Member of the UB Council of the State University of New York at Buffalo; Director of the Pan-Massachusetts Challenge, Inc. | Renée F. Jones has over 30 years of experience in banking and has held various leadership roles at M&T Bank since joining in 1992. He became CEO in December 2017. | View Report → |
Daryl N. Bible Executive | Senior Executive Vice President and Chief Financial Officer | N/A | Daryl N. Bible is the Senior Executive Vice President and CFO of M&T Bank Corporation. | |
Robert J. Bojdak Executive | Senior Executive Vice President and Chief Credit Officer | N/A | Robert J. Bojdak joined M&T Bank in 2002 and has been the Chief Credit Officer since 2004, managing the bank's loan portfolio risk. | |
Carlton J. Charles Board | Director | Senior Vice President of Treasury and Risk Management at Hearst; Board Member at BUILD; Member of the Executive Leadership Council; Governance Fellow at the National Association of Corporate Directors | Carlton J. Charles joined the M&T Board in January 2023 and brings expertise in corporate finance and risk management. | |
Gary N. Geisel Board | Director | Former Chairman of the Board of Saint Agnes Hospital; Former director of Goodwill Industries of the Chesapeake; Member of the Budget and Finance Committee of the Baltimore Community Foundation; Past Chair of the Finance Committee of Urban Teachers | Gary N. Geisel has been a director since 2009 and brings over 35 years of banking experience. | |
Jane Chwick Board | Director | Director at Voya Financial, MarketAxess Holdings Inc., and Thoughtworks Holding Inc.; Co-founder and Co-CEO of Trewtec, Inc. | Jane Chwick joined the M&T Board in April 2022 and has a background in technology and governance from her career at Goldman Sachs. | |
John P. Barnes Board | Director | Director of M&T's Subsidiary, M&T Bank | John P. Barnes joined the M&T Board in April 2022 after M&T's acquisition of People's United Financial, Inc., where he was CEO. | |
Leslie V. Godridge Board | Director | Director of Beasley Broadcast Group, Inc.; Director and Audit Committee Member of National Integrity Life Insurance Co. and Gerber Life Insurance Company; Trustee and Treasurer of the Museum of the City of New York | Leslie V. Godridge joined the M&T Board in 2020 and has nearly 40 years of experience in banking, with a focus on corporate and commercial banking. | |
Robert T. Brady Board | Vice Chairman of the Board of Directors and Lead Independent Director | Director of Astronics Corporation; Director of CUBRC, Inc.; Director of the Buffalo AKG Art Museum | Robert T. Brady has been with M&T since 1994 and is recognized for his leadership and governance experience. | |
T. Jefferson Cunningham III Board | Director | Chairman and CEO of Magnolia Capital Management, Ltd; Trustee of the Open Space Institute; Advisory Board Member of the Community Foundations of the Hudson Valley | T. Jefferson Cunningham III has been a director since 2001 and has extensive experience in commercial and investment banking. | |
William F. Cruger, Jr. Board | Director | Director at MarketAxess Holdings Inc. and Virtu Financial, Inc. | William F. Cruger, Jr. joined the M&T Board in April 2022 and has a background in investment banking. |
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Given that you anticipate runoff in your CRE portfolio for at least a couple more quarters and don't expect CRE balances to grow until mid-next year, how do you plan to offset the potential impact on loan growth and net interest income, especially if CRE pipelines don't build as expected?
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You mentioned that your deposit betas on the way up peaked at about 55% and you expect a downward beta of at least 40% in the fourth quarter; how confident are you that deposit costs will reprice down as quickly as anticipated, and what are the risks that deposit betas remain higher, potentially compressing your net interest margin?
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With the shift in your loan mix towards consumer lending, which may have higher yields but also higher net charge-offs, how do you plan to manage the potential increase in credit losses, and are you comfortable with the current level of loan loss reserves given this mix change?
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Considering that your net interest income and margin are expected to improve due to roll-on and roll-off rates on fixed-rate assets, as well as hedging activities, what are the key risks that could prevent you from achieving these positive projections, especially in a volatile interest rate environment?
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As you plan to return more capital to shareholders in 2025 and potentially increase share repurchases, how do you balance this with maintaining a strong CET1 ratio above 11%, especially if economic conditions deteriorate or regulatory capital requirements change with the final Basel III implementation?
Research analysts who have asked questions during M&T BANK earnings calls.
Ebrahim Poonawala
Bank of America Securities
5 questions for MTB
Gerard Cassidy
RBC Capital Markets
5 questions for MTB
John Pancari
Evercore ISI
5 questions for MTB
Manan Gosalia
Morgan Stanley
5 questions for MTB
Matthew O'Connor
Deutsche Bank
4 questions for MTB
Peter Winter
D.A. Davidson
4 questions for MTB
Bill Carcache
Wolfe Research, LLC
3 questions for MTB
Christopher Spahr
Wells Fargo
3 questions for MTB
Erika Najarian
UBS
3 questions for MTB
Christopher McGratty
Keefe, Bruyette & Woods
2 questions for MTB
Frank Schiraldi
Piper Sandler
2 questions for MTB
Ken Usdin
Autonomous Research
2 questions for MTB
Steven Alexopoulos
JPMorgan Chase & Co.
2 questions for MTB
David Rochester
Compass Point
1 question for MTB
L. Erika Penala
UBS
1 question for MTB
Nathan Stein
Deutsche Bank
1 question for MTB
Zach Westerlind
UBS
1 question for MTB
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
People's United Financial, Inc. | 2022 | M&T Bank Corporation acquired People's United Financial, Inc. for approximately $8.4 billion (based on $164.66 per share), exchanging each People's United common share for 0.118 of an M&T common share and issuing over 50 million common shares. The deal, which also involved converting People's United’s preferred stock into Series H Preferred Stock, expanded M&T's footprint to create a $200 billion banking franchise with more than 1,000 branches across 12 states, enhancing scale and geographic diversity. |
Recent press releases and 8-K filings for MTB.
- Mama’s Creations will acquire substantially all assets of Crown I Enterprises, a Sysco subsidiary, for $17.5 million in cash at a 0.3× FY25 revenue multiple.
- Crown I generated $56 million in profitable revenue for the fiscal year ended June 28, 2025, primarily serving premium retail partners.
- The transaction is financed via a $27.4 million senior secured credit facility with M&T Bank and a private placement expected to yield $20 million in gross proceeds.
- The acquisition adds a 42,000 sq ft USDA-certified facility and approximately 200 employees, expanding production capacity and premium account reach with anticipated synergies from cross-selling and operational efficiencies.
- M&T reported GAAP EPS of $4.24 and net operating EPS of $4.28, supported by taxable-equivalent net interest income of $1.72 B (+1% q/q), noninterest income of $683 M (+12%), and an efficiency ratio of 55.2%.
- Average loans rose to $135.4 B (+$0.6 B q/q) with growth in residential mortgages (+2% to $23.7 B) and consumer loans (+4% to $25.4 B); net interest margin was 3.62%.
- Criticized loans declined by $1 B to $8.4 B, with net charge-offs of 32 bps and a provision for credit losses of $125 M, reflecting improving asset quality.
- Executed $1.1 B in share repurchases, increased tangible book value per share by 1%, and maintained a CET1 ratio of 10.98%.
- 2025 outlook includes net interest income of $7.0–7.15 B (mid-to-high 360 bps NIM), average loan growth to $135–137 B, noninterest income of $2.5–2.6 B, expenses of $5.4–5.5 B, and a CET1 target of 10.75–11%.
- M&T Bank’s preliminary stress capital buffer (SCB) is 2.7%, effective October 1, 2025, down from 3.8%.
- The implied regulatory minimum common equity Tier 1 (CET1) ratio is now 7.2%, compared with 8.3% previously.
- M&T reported a CET1 ratio of 11.50% as of March 31, 2025, and expects it to reach 11.0% in 2025.
- The 2025 SCB of 2.7% represents a 2.0% improvement versus the 4.7% SCB in the 2022 stress test.
- RBC expects major banks, including M&T Bank, to pass stress tests and may see stress capital buffers shrink due to reduced commercial real estate loss assumptions, benefiting M&T in this year’s DFAST review.
- Investment banking revenues for large banks are forecast to be down high single digits, while equities trading may rise mid to high single digits, with June strength potentially boosting July results.
- The current stress test framework effectively assesses credit and liquidity but does not simulate interest rate spikes, highlighting a gap that contributed to Silicon Valley Bank’s failure from duration mismatches.
- A robust deal pipeline and an administration supportive of deregulation are expected to drive increased M&A and wider industry consolidation across banking and other sectors.
- Guidance and Loan Growth: The company maintained its full-year guidance with strong expectations for loan growth in its consumer, commercial, and CRE portfolios, and anticipates reduced CRE concentration over time.
- Net Interest Margin and Banking Performance: M&T highlighted a robust net interest margin in the mid to high 360s, supported by steady deposit growth and diversified fee income momentum from areas such as treasury management, trust, and mortgage services.
- Capital Management Initiatives: The bank is committed to capital distribution via opportunistic share buybacks targeting over $2 billion this year while aiming for an 11% CET1 ratio, reflecting its disciplined capital allocation approach.
- The presentation includes forward-looking statements detailing potential risks and opportunities for M&T Bank, emphasizing its strategic focus on profitability and efficiency.
- It highlights strong operational metrics such as a net interest margin of 3.66% and consistent credit quality along with a focus on managing expenses effectively.
- Key performance indicators, including profitability measures like ROTA and ROTCE, underscore M&T’s competitive advantage and efficient balance sheet management.
- The document outlines a 2025 outlook with trends indicating sequential improvement in net interest income, fee income, and share repurchase flexibility tied to RWA trends.
- Strong balance sheet and liquidity: M&T emphasized robust capital strength and credit quality, underpinning its optimism on further net interest margin expansion despite economic uncertainties.
- Strategic technology and operational upgrades: The bank is investing in major projects including new data centers, a revamped general ledger system, and enhancements in commercial delivery to drive efficiency.
- Cautious growth and dividend outlook: M&T remains prudent in loan and deposit growth while signaling potential dividend increases aligned with its stable earnings power and disciplined financial management.
- The presentation outlines forward-looking statements and non-GAAP financial measures, emphasizing the inherent risks and uncertainties affecting future performance.
- It highlights key financial metrics as of Q1 2025, including a stock price of $175.31, market capitalization of $28.5B, $210B in total assets, $165B in deposits, and $135B in loans & leases.
- The document underscores M&T’s strategy as a community-focused bank with priorities on market expansion, risk management, and resource simplification to maintain its competitive advantage.
- Form 8-K filed on April 15, 2025 reported the results of the 2025 Annual Meeting of Shareholders, detailing key voting outcomes on board elections, executive compensation, and auditor ratification.
- Shareholders approved the election of 14 directors for one-year terms, the 2024 executive compensation for named officers, and the appointment of PricewaterhouseCoopers LLP as the independent auditor for the year ending December 31, 2025.
- M&T Bank reported diluted GAAP EPS of $3.32 and net income of $584 million for Q1 2025, marking a robust start to the quarter .
- The bank achieved an improved net interest margin, with an 8 bps increase to 3.66%, driven by a favorable balance sheet mix and efficient deposit pricing .
- Executed $662 million in share repurchases, repurchasing 3,415,303 shares to reinforce its capital position .
- Maintained a strong capital base with a CET1 ratio of 11.50% as of March 31, 2025, alongside a 2% increase in tangible book value per share .
- Enhanced asset quality with declining nonaccrual loans (from 1.25% to 1.14%) and reduced charge-offs, supported by ongoing cost and expense management .