M&T Bank beats estimates as loan growth drives results

Investing.com -- On Friday, M&T Bank Corporation (NYSE: MTB) reported third quarter earnings that exceeded analyst expectations, with adjusted earnings per share of $5.08 beating the consensus estimate of $4.93 by $0.15.

Shares of the bank edged up1.53% in pre-market trading following the results.

Revenue reached $2.54 billion, slightly above the $2.53 billion analyst forecast and up 2% from $2.52 billion in the third quarter of 2025.

The bank’s net income totaled $775 million, down 2% YoY from $792 million. Average loans grew $2.6 billion from the prior quarter to $143.3 billion, driven by increases in commercial real estate, consumer, and residential real estate portfolios. Taxable-equivalent net interest income rose nominally to $1.81 billion from $1.80 billion in the second quarter.

Chief Financial Officer Daryl N. Bible said, "M&T’s third quarter results were highlighted by strong loan and deposit growth, stable credit and a solid capital position."

The provision for credit losses increased to $135 million from $120 million in the prior quarter and $125 million a year earlier. Net charge-offs as a percentage of average loans stood at 0.35%, down from 0.42% in the third quarter of 2025. The allowance for loan losses declined to 1.51% of total loans from 1.59% a year ago.

Noninterest income decreased 1% YoY to $743 million, while noninterest expense rose 2% to $1.39 billion, reflecting higher technology infrastructure costs. M&T repurchased 1.3 million shares for $323 million during the quarter. The bank’s CET1 capital ratio was estimated at 10.16% at September 30, 2026.

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