What drove the increase in second-quarter earnings?

Net income rose to $818 million from $664 million in the first quarter. Noninterest expense fell $89 million, mainly because first-quarter salaries and employee benefits included seasonally higher stock-based compensation and payroll taxes. Noninterest income also rose $51 million, reflecting a $47 million distribution from the Bayview Lending Group investment, higher trust income and higher revenue from commercial interest rate swaps.

How did credit quality trend?

Credit quality improved. The provision for credit losses fell to $120 million from $140 million in the first quarter. Nonaccrual loans were $1.21 billion, compared with $1.24 billion in the first quarter and $1.57 billion a year earlier. The allowance for loan losses was 1.52% of loans, down from 1.61% a year earlier, which the filing attributes to lower levels of criticized loans.

How did capital and shareholder returns change?

The estimated CET1 capital ratio was 10.19% at June 30, 2026, compared with 10.33% at March 31, 2026 and 10.99% a year earlier. M&T repurchased $465 million of common stock in the quarter, down from $1.25 billion in the first quarter. Cash dividends declared were $220 million on common stock and $35 million on preferred stock. The stress capital buffer is 2.7%.

What is the company's 2026 outlook?

The earnings presentation projects 2026 taxable-equivalent net interest income of $7.2 to $7.35 billion, fee income of $2.8 to $2.85 billion, GAAP expenses including intangible amortization of $5.5 to $5.6 billion, and net charge-offs of about 37 basis points of average loans. It also projects average loans of $141 to $143 billion, average deposits of $165 to $167 billion and a CET1 ratio of 10.0% to 10.5%.

M&T Bank 8-K: Earnings & Results & Regulation FD

01—Abstract

Summary

Summary of the 8-K filed July 15, 2026. Cited figures are marked; the original filing is the authoritative source.

M&T Bank Corporation (NYSE:MTB) reported second quarter 2026 net income of $818 million^a, or $5.32 of diluted earnings per common share, compared with $664 million ($4.13 per diluted share) in the first quarter of 2026 and $716 million ($4.24 per diluted share) in the second quarter of 2025.

The company described the result as record earnings per share. Diluted net operating earnings per share were $5.35^b, against $4.18 in the first quarter of 2026 and $4.28 in the second quarter of 2025. Taxable-equivalent net interest income rose to $1.80 billion, and the net interest margin held at 3.70%.

Noninterest income was $740 million^c, including a $47 million distribution from the company's investment in Bayview Lending Group LLC, and noninterest expense fell to $1.35 billion from $1.44 billion in the prior quarter, driven by seasonal first-quarter compensation costs. Credit quality improved on most measures. The provision for credit losses was $120 million, net charge-offs were $80 million, and nonaccrual loans declined to $1.21 billion from $1.24 billion in the first quarter and $1.57 billion a year earlier.

The allowance for loan losses was 1.52% of loans outstanding. Average loans grew $3.0 billion^d from the prior quarter, led by $2.3 billion of commercial and industrial growth. The company repurchased $465 million of common stock during the quarter, and its estimated CET1 capital ratio was 10.19% at June 30, 2026, down from 10.33% at March 31, 2026.

Common shareholders' equity per share rose to $176.03. The filing also furnishes an earnings presentation and a news release. The 2026 outlook in the presentation projects taxable-equivalent net interest income of $7.2 to $7.35 billion, fee income of $2.8 to $2.85 billion, GAAP expense of $5.5 to $5.6 billion, net charge-offs of about 37 basis points of average loans, and a CET1 ratio of 10.0% to 10.5%.

02—Key points

Key Highlights

Record quarterly diluted EPS of $5.32 on net income of $818 million, up from $4.13 in 1Q26 and $4.24 in 2Q25.
Diluted net operating EPS of $5.35, with a net operating efficiency ratio of 52.8%, compared with 58.3% in 1Q26.
Average loans rose $3.0 billion sequentially to $141.4 billion, led by $2.3 billion of commercial and industrial growth.
Net interest margin held at 3.70%, and taxable-equivalent net interest income increased $41 million from the prior quarter.
Nonaccrual loans fell to $1.21 billion from $1.57 billion a year earlier, and net charge-offs were $80 million, or 0.23% of average loans.
M&T repurchased $465 million of common stock in the quarter, and its estimated CET1 capital ratio was 10.19%.
The presentation's 2026 outlook projects taxable-equivalent net interest income of $7.2 to $7.35 billion and GAAP expenses of $5.5 to $5.6 billion.

03—Questions

Frequently Asked Questions

What drove the increase in second-quarter earnings?
Net income rose to $818 million from $664 million in the first quarter. Noninterest expense fell $89 million, mainly because first-quarter salaries and employee benefits included seasonally higher stock-based compensation and payroll taxes. Noninterest income also rose $51 million, reflecting a $47 million distribution from the Bayview Lending Group investment, higher trust income and higher revenue from commercial interest rate swaps.
How did credit quality trend?
Credit quality improved. The provision for credit losses fell to $120 million from $140 million in the first quarter. Nonaccrual loans were $1.21 billion, compared with $1.24 billion in the first quarter and $1.57 billion a year earlier. The allowance for loan losses was 1.52% of loans, down from 1.61% a year earlier, which the filing attributes to lower levels of criticized loans.
How did capital and shareholder returns change?
The estimated CET1 capital ratio was 10.19% at June 30, 2026, compared with 10.33% at March 31, 2026 and 10.99% a year earlier. M&T repurchased $465 million of common stock in the quarter, down from $1.25 billion in the first quarter. Cash dividends declared were $220 million on common stock and $35 million on preferred stock. The stress capital buffer is 2.7%.
What is the company's 2026 outlook?
The earnings presentation projects 2026 taxable-equivalent net interest income of $7.2 to $7.35 billion, fee income of $2.8 to $2.85 billion, GAAP expenses including intangible amortization of $5.5 to $5.6 billion, and net charge-offs of about 37 basis points of average loans. It also projects average loans of $141 to $143 billion, average deposits of $165 to $167 billion and a CET1 ratio of 10.0% to 10.5%.

04—Continue

← View all 8-K filings