NEW YORK - M&T Bank Corporation (NYSE:MTB) reported fourth quarter earnings that beat analyst expectations on Thursday, sending shares higher by 2.55% in early trading.
The regional bank posted adjusted earnings per share of $3.92, surpassing the consensus estimate of $3.72. Revenue came in at $2.38 billion, also topping expectations of $2.34 billion.
M&T's net interest income was $1.74 billion in Q4, up slightly from $1.74 billion in the third quarter and $1.73 billion in the year-ago period. The bank's net interest margin was 3.58%, down from 3.62% in Q3 but up from 3.52% in Q4 2023.
Loan balances decreased 0.2% sequentially to $135.6 billion. Deposits fell 2.1% from the prior quarter to $161.1 billion.
"M&T enters 2025 with resolute focus on enhancing capabilities to better serve our customers by optimizing our business processes and building more scale and resiliency for continued growth," said CFO Daryl N. Bible.
The bank repurchased $200 million worth of common stock during the quarter. Its CET1 capital ratio rose to an estimated 11.67% at year-end, up from 11.54% at the end of Q3.
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