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    M&T Bank Corp (MTB)

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    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 .

    1. 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 .
    2. 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 .
    3. 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 .
    NamePositionStart DateShort Bio
    Renée F. JonesChairman of the Board and Chief Executive Officer2017Renée F. Jones has been the Chairman of the Board and Chief Executive Officer of M&T Bank Corporation since December 2017. He joined M&T Bank in 1992 and has over 30 years of experience in banking .
    Kevin J. PearsonVice Chairman2020Kevin J. Pearson is the Vice Chairman of M&T Bank Corporation, a position he has held since 2020. He began his career with M&T Bank in 1989 and has held various management positions .
    Daryl N. BibleSenior Executive Vice President and Chief Financial Officer2023Daryl N. Bible is the Senior Executive Vice President and Chief Financial Officer of M&T Bank Corporation since 2023. He previously served as CFO at Truist Financial Corporation and BB&T .
    Robert J. BojdakSenior Executive Vice President and Chief Credit Officer2004Robert J. Bojdak is a Senior Executive Vice President and Chief Credit Officer at M&T Bank, a position he has held since 2004. He joined M&T Bank in 2002 and is responsible for managing the bank's loan portfolio risk .
    1. 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?

    2. 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?

    3. 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?

    4. 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?

    5. 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?

    Program DetailsProgram 1
    Approval DateJuly 2022
    End Date/DurationN/A
    Total additional amount$3.0 billion
    Remaining authorization amount$1.0 billion
    DetailsManage capital and liquidity requirements, support future loan growth, and manage other balance sheet activities.
    YearAmount Due (Millions)Debt TypeInterest Rate (%)% of Total Debt
    20252,000FHLB AdvancesN/A14.1% = (2,000 / 14,188) * 100
    ~2026650Asset-Backed NotesN/A4.6% = (650 / 14,188) * 100
    ~2026511Asset-Backed NotesN/A3.6% = (511 / 14,188) * 100
    2032850Senior Notes6.082 (fixed until 2031, then SOFR + 2.26)6.0% = (850 / 14,188) * 100

    Competitors mentioned in the company's latest 10K filing.

    • Commercial and other banks and thrifts
    • Private credit funds
    • Insurance companies
    • Mutual funds
    • Hedge funds
    • Securities brokerage firms
    • Financial technology companies
    • Credit unions
    • Personal loan companies
    • Sales finance companies
    • Leasing companies
    • Wealth and investment advisory firms
    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLP1984 PresentCurrent auditor