Q2 2026 M&T Bank Corp Earnings Call Transcript
Key Points
- M&T Bank Corp (MTB) reported the highest quarterly diluted earnings per share in its history at $5.32, up from $4.13 in the prior quarter.
- Net interest income (NII) reached its highest level since 2023, supported by the strongest quarterly loan growth since 2012, excluding acquisitions and PPP during COVID.
- Asset quality improved with net charge-offs at 23 basis points and a decline in commercial criticized loans by $0.7 billion, marking the ninth consecutive quarterly decline.
- The bank's liquidity remains strong, with investment securities and cash held at the Fed totaling $53.9 billion, representing 25% of total assets.
- M&T Bank Corp (MTB) achieved a significant milestone with the fifth anniversary of its tech hub at Seneca One in Buffalo, enhancing its technological capabilities and innovation ecosystem.
- Average total deposits declined by $0.7 billion to $163.5 billion, with non-interest-bearing deposits decreasing by $0.6 billion.
- Interest-bearing deposit costs decreased only slightly by 2 basis points to 1.95%, indicating ongoing pressure on deposit pricing.
- The bank's CET1 ratio declined by 14 basis points from the first quarter, reflecting share repurchases and higher risk-weighted assets.
- M&T Bank Corp (MTB) anticipates net interest margin (NIM) compression in the second half of the year, relative to the 3.70% in the first half.
- The bank remains cautious about the economic backdrop, noting challenges such as increased gasoline prices impacting household spending and geopolitical conflicts.
Welcome to the M&T Bank second-quarter 2026 conference call. (Operator Instructions)
Please be advised that today's conference is being recorded. I would now like to hand the conference over to Steven Wendelboe, Senior Vice President of Investor Relations. Please go ahead.
Thank you, Chelsea, and good morning. I'd like to thank everyone for participating in M&T's second-quarter 2026 earnings conference call. If you have not read the earnings release we issued this morning, you may access it along with the financial tables and schedules by going to our Investor Relations website at ir.mtb.com.
Also, before we start, I'd like to mention that today's presentation may contain forward-looking information. Cautionary statements about this information are included in today's earnings release materials and in the investor presentation as well as our SEC filings and other investor materials.
The presentation also includes non-GAAP financial
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