M&T Bank (MTB) investor relations material

Executive summary

• Net income for Q2 2026 was $818 million, up 23% year-over-year, with record diluted GAAP EPS of $5.32, a 29% increase from Q2 2025.

• Strong performance was driven by broad-based loan growth, robust fee income, and improved asset quality.

• Return on average assets was 1.51% and return on average common equity was 12.30%.

• Net operating income (non-GAAP) reached $823 million, with net operating EPS at $5.35.

• Continued investments in technology, innovation, and community partnerships to drive long-term growth.

Financial highlights

• Net interest income (NII) was $1.8 billion for Q2 2026, up 2% sequentially and 5% year-over-year; net interest margin held steady at 3.70%.

• Noninterest income increased 8% sequentially and year-over-year, supported by higher trust income, trading gains, and investment distributions.

• Noninterest expense declined 6% sequentially but rose 1% year-over-year, with efficiency ratio improving to 52.8%.

• Provision for credit losses was $120 million in Q2 2026, down from $125 million in Q2 2025.

• Tangible common equity per share was $117.41 at June 30, 2026.

Outlook and guidance

• 2026 net interest income expected at $7.2–$7.35 billion; fee income at $2.8–$2.85 billion.

• Full-year average loans projected at $141–$143 billion; deposits at $165–$167 billion.

• Expenses guided to $5.5–$5.6 billion, with continued investment in enterprise initiatives.

• CET1 capital ratio expected between 10.0% and 10.5%.

• Management expects continued loan growth, stable net interest margin, and disciplined expense management.