M&T Bank Corporation Q3 2026 Earnings Recap

M&T Bank shares fell 2.2% after earnings, a roughly flat reaction. Net interest margin declined 5 basis points to 3.65%, while earnings per share and net income also fell from the prior quarter; loan growth and stable net interest income provided offsets.

Key Takeaways

• Diluted GAAP EPS was $5.04, down from $5.32 in the linked quarter; net income declined to $775 million from $818 million.
• Taxable-equivalent net interest income was $1.8 billion, largely unchanged. NIM fell 5 basis points to 3.65%, reflecting lower non-accrual interest and higher funding costs.
• Average loans grew 2% to $143.3 billion, led by commercial real estate and consumer lending. C&I loans were largely unchanged at $65.9 billion.
• Average deposits more than funded loan growth, allowing the bank to reduce reliance on short-term borrowings.
• M&T transferred $8.3 billion of residential mortgage-backed securities from available-for-sale to held-to-maturity, citing protection of tangible capital and positioning for potential regulatory changes.