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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 .
- 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 .
| 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?
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.
- 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 .