01—Abstract
Summary
Summary of the 10-Q filed August 4, 2025. Cited figures are marked; the original filing is the authoritative source.
M&T Bank Corporation reported net income of $716 milliona for the second quarter of 2025, up from $655 million in the second quarter of 2024, and $1.30 billion for the six months ended June 30, 2025, compared with $1.19 billion a year earlier.
Diluted earnings per common share were $4.24b for the quarter and $7.55 for the six months. Total other income rose to $683 million in the quarter, and net interest income was $1.71 billion. Versus the first quarter of 2025, net income rose $132 million, helped by higher noninterest income, including a $15 million gain on the sale of an out-of-footprint residential builder and developer loan portfolio and a $10 million gain on the divestiture of Wilmington Trust SP Services Inc. The net interest margin was 3.62% in the quarter, down from 3.66% in the first quarter of 2025.
Credit metrics were mixed. The provision for credit losses was $125 millionc in the quarter and $255 million for the six months, down from $350 million a year earlier. Nonaccrual loans were $1.57 billion at June 30, 2025, or 1.16% of total loans, compared with 1.50% a year earlier, while accruing loans past due 90 days or more rose to $496 million from $233 million at June 30, 2024.
Criticized investor-owned commercial real estate loans declined to $4.6 billiond from $5.4 billion at March 31, 2025. Capital and liquidity remained strong. Shareholders' equity was $28.5 billion at June 30, 2025, and M&T repurchased 6,073,957 common shares in the quarter at a total cost of $1.1 billion under a $4.0 billion program authorized in January 2025.
The consolidated CET1 capital ratio was 10.99%, and the company estimated its stress capital buffer would be 2.7% effective October 1, 2025. Total deposits were $164.5 billion, and the company reported $87.8 billion of available liquidity sources.
02—Key points
Key Highlights
- Second-quarter 2025 net income of $716 million, up from $655 million a year earlier; diluted EPS of $4.24 versus $3.73
- Six-month 2025 net income of $1.30 billion, up from $1.19 billion in the first half of 2024; diluted EPS of $7.55 versus $6.76
- Net interest margin of 3.62% in the second quarter, down from 3.66% in the first quarter of 2025
- Total other income of $683 million in the quarter, up from $611 million in the first quarter of 2025, including gains on loan and subsidiary sales
- Provision for credit losses fell to $125 million in the quarter from $150 million a year earlier; nonaccrual loans were 1.16% of total loans
- Accruing loans past due 90 days or more rose to $496 million at June 30, 2025 from $233 million at June 30, 2024, predominantly government-guaranteed residential loans
- Repurchased 6,073,957 common shares for $1.1 billion in the quarter; CET1 capital ratio of 10.99%
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ2 FY2025filed August 4, 2025Financial Statements
Q2 FY2025 against Q2 FY2024
| Line item | Q2 FY2025Q2 FY2024 | Change |
|---|---|---|
| Revenue | $417.00M$388.00M | +7.5% |
| Net Income | $716.00M$655.00M | +9.3% |
| EPS (Basic) | $4.26$3.75 | +13.6% |
| EPS (Diluted) | $4.24$3.73 | +13.7% |
| Shares Outstanding (Basic) | 159.22M166.95M | −4.6% |
| Shares Outstanding (Diluted) | 160.00M167.66M | −4.6% |
05—Questions
Frequently Asked Questions
What drove the increase in net income this quarter?
Net income rose $132 million from the first quarter of 2025 to $716 million. Taxable-equivalent net interest income increased $15 million, noninterest income rose $72 million on higher residential mortgage banking revenues and gains on sales, and noninterest expense fell $79 million, reflecting seasonal salaries and employee benefits costs in the first quarter.
How did credit quality change?
Nonaccrual loans were $1.57 billion, or 1.16% of total loans, at June 30, 2025, compared with 1.50% a year earlier. Net charge-offs were 0.32% of average loans for the quarter. Accruing loans past due 90 days or more rose to $496 million, predominantly government-guaranteed residential real estate loans. The allowance for loan losses was $2.2 billion, or 1.61% of loans outstanding.
What did the company do with its capital?
M&T repurchased 6,073,957 common shares for a total cost of $1.1 billion in the quarter and paid common stock cash dividends of $1.35 per share. Shareholders' equity was $28.5 billion at June 30, 2025. The company's SCB is estimated to be 2.7% effective October 1, 2025, down from 3.8% at June 30, 2025.
What funding actions did M&T take in 2025?
In June 2025, M&T issued $750 million of senior notes maturing in July 2031 and M&T Bank issued $750 million of senior notes maturing in July 2028. In July 2025, M&T issued $750 million of subordinated notes maturing in July 2035. Total deposits were $164.5 billion at June 30, 2025, up from $161.1 billion at December 31, 2024.
06—Continue