Sep 2026 (Q3 FY26) — Oct 16, 2026
M&T Bank Q3 FY26 — Solid Loan and Deposit Growth, Strong Capital Generation
Read the full callM&T Bank (MTB) earnings
- Jun 2026
- Sep 2026 (Q3 FY26)
- Dec 2025
M&T Bank earnings: last reported Fri, 16 Oct 2026, for the quarter ended Sep 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 442 | +6.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 818 | +14.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
14 of 15 judged targets kept · 17 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| CRE average loan balance trough / return to growth | CRE average balances bottom in Q1 FY26, growth resumes Q2 FY26 | Sep 2025 | We also returned to CRE growth with average balances increasing for the first time in 2021, excluding acquisitions. | Achieved |
| Full-year average loan balances | $140 billion to $142 billion | Dec 2025 | We expect continued loan and deposit growth in the second half of the year with full average loans of $141 million to $143 billion. | Revised Up |
| Full-year average deposit balances | $165 billion to $167 billion | Dec 2025 | Our deposit outlook remains in the $165 million to $167 billion range with a cumulative interest-bearing deposit beta in the low to mid-50% range. | On Track |
1 of M&T BANK CORP's 32 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 29 more targets are in the full ledger.
Claimed
- Diluted GAAP earnings per share were $5.04, with net operating EPS at $5.08.
- Average loans increased $2.6 billion or 2% to $143.3 billion.
- Average total deposits rose $3.3 billion to $166.8 billion, reducing reliance on borrowings.
- Year-to-date efficiency ratio improved to 55.1% from 56.3% last year.
- Estimated CET1 ratio remained strong at 10.16%, reflecting robust capital generation.
Qualified
- Net interest margin decreased 5 basis points from the prior quarter to 3.65%.
- Noninterest expenses increased $44 million from the prior quarter to $1.39 billion.
- Nonaccrual loans increased $90 million to $1.3 billion, driven by higher commercial nonaccrual loans, mostly related to office and assisted living credits.
- Credit cited loans increased $245 million to $6.1 billion, with C&I up $213 million and CRE up $32 million.
Price
$213.74 −0.72% · −$1.54
Performance +18.3% 1Y
1Y: $180.67 on 17 Oct 2025 → $213.74. High $254.09 (14 Aug 2026), low $180.67 (17 Oct 2025).
- Previous close
- $215.28
- 52-week range
- $180.9 – $254.09
- One year
- +17.39%
Overview
- Symbol
- MTB
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
14 of 15 judged targets kept · 17 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| CRE average loan balance trough / return to growth | CRE average balances bottom in Q1 FY26, growth resumes Q2 FY26 | Sep 2025 | We also returned to CRE growth with average balances increasing for the first time in 2021, excluding acquisitions. | Achieved |
| Full-year average loan balances | $140 billion to $142 billion | Dec 2025 | We expect continued loan and deposit growth in the second half of the year with full average loans of $141 million to $143 billion. | Revised Up |
| Full-year average deposit balances | $165 billion to $167 billion | Dec 2025 | Our deposit outlook remains in the $165 million to $167 billion range with a cumulative interest-bearing deposit beta in the low to mid-50% range. | On Track |
Claimed
- Diluted GAAP earnings per share were $5.04, with net operating EPS at $5.08.
- Average loans increased $2.6 billion or 2% to $143.3 billion.
- Average total deposits rose $3.3 billion to $166.8 billion, reducing reliance on borrowings.
- Year-to-date efficiency ratio improved to 55.1% from 56.3% last year.
- Estimated CET1 ratio remained strong at 10.16%, reflecting robust capital generation.
Qualified
- Net interest margin decreased 5 basis points from the prior quarter to 3.65%.
- Noninterest expenses increased $44 million from the prior quarter to $1.39 billion.
- Nonaccrual loans increased $90 million to $1.3 billion, driven by higher commercial nonaccrual loans, mostly related to office and assisted living credits.
- Credit cited loans increased $245 million to $6.1 billion, with C&I up $213 million and CRE up $32 million.
The full ledger
Open M&T BANK CORP’s full ledger
A free account opens 5 company ledgers a month. All 32 tracked commitments, with each call’s wording and source.
Call summaries
Jun 2026 (Q2 FY26) — Jul 15, 2026
M&T Bank Corporation Q2 FY26 — Record EPS and Strong Loan Growth
Read the full callMar 2026 (Q1 FY26) — Apr 15, 2026
M&T Bank Corporation Q1 FY26 — Strong Performance with Capital Returns and Fee Income Growth
Read the full callNews
Latest news
From the news desk, item by item, hours after each call.
Every analysed call
M&T Bank earnings calls (MTB)
Financials
What the filings say
Net profit, year on year: +14% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 394 | 392 | 397 | 417 | 423 | 420 | 418 | 442 |
| Profit before tax | 909 | 882 | 761 | 935 | 1,025 | 971 | 863 | 1,063 |
| Tax rate | 20.7% | 22.8% | 23.3% | 23.4% | 22.7% | 21.8% | 23.1% | 23.1% |
| Net profit | 721 | 681 | 584 | 716 | 792 | 759 | 664 | 818 |
| EPS ($ per share) | 4.04 | — | 3.33 | 4.26 | 4.85 | — | 4.16 | 5.35 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 80 | 80 | 80 | 80 | 90 | 90 | 90 | 90 |
| Reserves | 11,517 | 12,821 | 13,444 | 14,646 | 15,754 | 17,524 | 19,079 | 20,882 |
| Total liabilities | 104,637 | 104,156 | 126,414 | 137,204 | 175,412 | 181,307 | 179,078 | 184,333 |
| Fixed assets | 647 | 1,141 | 1,162 | 1,145 | 1,654 | 1,739 | 1,705 | 1,629 |
| Total assets | 120,097 | 119,873 | 142,601 | 155,107 | 200,730 | 208,264 | 208,105 | 213,510 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 2,090 | 2,358 | 789 | 2,715 | 4,574 | 3,905 | 3,610 | 3,003 |
| Cash from investing | -1,410 | 727 | -22,020 | -13,631 | 16,592 | -4,764 | -9,746 | -6,816 |
| Cash from financing | -495 | -3,254 | 21,348 | 10,701 | -20,984 | 4,180 | -2,882 | 1,800 |
| Capital expenditure | -98 | -178 | -172 | -149 | -214 | -256 | — | — |
| Free cash flow | 1,992 | 2,180 | 617 | 2,566 | 4,360 | 3,649 | — | — |
MTB revenue by segment
| Segment | Q2 FY2024 | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Institutional Services and Wealth Management | 52% | 51% | 53% | 51% | 51% | 52% | 52% | 52% | +9.0% |
| Retail Banking | 31% | 31% | 29% | 31% | 31% | 30% | 29% | 30% | +3.1% |
| Commercial Banking | 18% | 18% | 18% | 18% | 18% | 18% | 19% | 18% | +2.6% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
MTB operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Common equity tier 1 ratio (CET1) | — | 10.99%M&T's CET1 ratio was an estimated 10.99%, unchanged from the second quarter.Source: earnings call transcript | 10.84%M&T's CET1 ratio was an estimate of 10.84%, a decline of 15 basis points from the third quarter.Source: earnings call transcript | 10.33%M&T's CET1 ratio was an estimated 10.33%, decline of 51 basis points from the fourth quarter.Source: earnings call transcript | 10.9%M&T's estimated CET1 ratio was 10.9%, a decline of 14 basis points from the first quarter.Source: earnings call transcript | 10.16%M&T's estimated CET1 ratio was 10.16%, a decline of 3 basis points in the second quarter.Source: earnings call transcript | -0.7 pt |
| Return on tangible common equity (ROTCE) | 12.53%Net operating income yielded an ROTA and ROTCE of 1.21% and 12.53%.Source: earnings call transcript | 17.13%We produced strong returns with operating ROTA and ROTCE of 1.56% and 17.13%.Source: earnings call transcript | 16.24%Net operating income yielded an ROTA and an ROTCE of 1.49% and 16.24% for the recent quarter.Source: earnings call transcript | 14.51%Net operating income yielded an ROTA and an ROTCE of 1.33% and 14.51% for the recent quarter.Source: earnings call transcript | 18.57%Net operating income yielded an ROA and ROTCE of 1.59% and 18.57%.Source: earnings call transcript | 17.29%Third quarter net operating ROTA and ROTCE were 1.47% and and 17.29%, both exceeding the targets established for our long-term incentive structure.Source: earnings call transcript | -1.3 pt |
| Net interest margin | 3.66%Net interest margin was 3.66%, an increase of 8 basis points from the prior quarter.Source: earnings call transcript | — | 3.69%The net interest margin was 3.69%, an increase of 1 basis point from the prior quarter.Source: earnings call transcript | 3.71%Net interest margin was 3.71%, an increase of 2 basis points from the prior quarter.Source: earnings call transcript | — | 3.65%In line with the outlook we provided in July and September, net interest margin was 3.65%, down 5 basis points from the prior quarter, mostly reflecting those same factors that impacted NII.Source: earnings call transcript | — |
| Efficiency ratio | 60.5%The efficiency ratio was 60.5% compared to 56.8% in the linked quarter.Source: earnings call transcript | 53.6%Revenues grew more than expenses, resulting in our third quarter efficiency ratio of 53.6%.Source: earnings call transcript | 55.1%The efficiency ratio was 55.1% compared to 53.6% in the linked quarter.Source: earnings call transcript | 58.3%The efficiency ratio was 58.3%, compared to 55.1% in the linked quarter.Source: earnings call transcript | — | 54.4%Our efficiency ratio was 54.4% in the third quarter, up from 52.8% in the linked quarter.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
100 filings between Nov 25, 2025 and Sep 14, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$26.38M
21 sales by 12 insiders
29% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 35
- Award — granted as compensation
- 14
- Option exercise — converted options into shares
- 27
- Tax withheld — shares kept back by the company to cover tax
Also filed: 3 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| BARNES JOHN P | — | $8.94M | Feb 9, 2026 |
| PEARSON KEVIN J | — | $6.19M | Jul 15, 2026 |
| JONES RENE F | — | $4.64M | Sep 14, 2026 |
| Wisler Michael A. | — | $1.84M | Feb 26, 2026 |
| KAY CHRISTOPHER E | — | $1.68M | May 7, 2026 |
| SADLER ROBERT E JR | — | $1.14M | Nov 25, 2025 |
| Taylor John R. | — | $723.6K | Aug 17, 2026 |
| Woodrow Tracy S. | — | $459.8K | Jul 1, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 14, 2026 | JONES RENE F Chairman of the Board and CEO | Sale 10b5-1 plan | 19,396 | $4.64M |
| Sep 14, 2026 | JONES RENE F Chairman of the Board and CEO | Tax withheld 10b5-1 plan | 15,101 | $3.62M |
| Sep 14, 2026 | JONES RENE F Chairman of the Board and CEO | Option exercise 10b5-1 plan | 16,770 | $3.20M |
| Aug 21, 2026 | Seseri Rudina Director | Sale | 623 | $150.2K |
| Aug 17, 2026 | Taylor John R. EVP and Controller | Sale | 1,217 | $308.9K |
| Aug 5, 2026 | WALTERS KIRK W Director | Sale | 9 | $2.4K |
| Aug 3, 2026 | Ledgett Richard H. Jr. Director | Sale | 855 | $212.2K |
| Jul 31, 2026 | Jacobs Jeremy M Jr Director | Award | 589 | $0 |
| Jul 31, 2026 | Bible Daryl N. Sr. EVP & CFO | Tax withheld | 3,043 | $749.5K |
| Jul 15, 2026 | PEARSON KEVIN J Vice Chairman | Sale 10b5-1 plan | 2,000 | $484.0K |
| Jul 1, 2026 | Woodrow Tracy S. Sr. Executive Vice President | Option exercise 10b5-1 plan | 505 | $83.1K |
| Jul 1, 2026 | Woodrow Tracy S. Sr. Executive Vice President | Option exercise 10b5-1 plan | 376 | $71.7K |
| Jul 1, 2026 | Woodrow Tracy S. Sr. Executive Vice President | Sale 10b5-1 plan | 881 | $213.2K |
| Jun 15, 2026 | Taylor John R. EVP and Controller | Option exercise | 269 | $51.3K |
| Jun 15, 2026 | Taylor John R. EVP and Controller | Sale | 1,098 | $256.1K |
| Jun 9, 2026 | PEARSON KEVIN J Vice Chairman | Sale 10b5-1 plan | 18,722 | $4.22M |
| Jun 9, 2026 | PEARSON KEVIN J Vice Chairman | Sale 10b5-1 plan | 4,636 | $1.05M |
| Jun 9, 2026 | PEARSON KEVIN J Vice Chairman | Option exercise 10b5-1 plan | 10,062 | $1.92M |
| Jun 9, 2026 | PEARSON KEVIN J Vice Chairman | Option exercise 10b5-1 plan | 13,296 | $2.19M |
| Jun 4, 2026 | PEARSON KEVIN J Vice Chairman | Sale 10b5-1 plan | 2,000 | $440.0K |
| May 7, 2026 | KAY CHRISTOPHER E Sr. Executive Vice President | Sale | 3,105 | $672.2K |
| Apr 30, 2026 | Cruger William Frank Jr. Director | Award | 687 | $0 |
| Apr 30, 2026 | Charles Carlton J. Director | Award | 664 | $0 |
| Apr 30, 2026 | RICH MELINDA R Director | Award | 664 | $0 |
| Apr 30, 2026 | Ledgett Richard H. Jr. Director | Award | 664 | $0 |
| Apr 30, 2026 | SALAMONE DENIS J Director | Award | 664 | $0 |
| Apr 30, 2026 | WASHINGTON HERBERT L Director | Award | 664 | $0 |
| Apr 30, 2026 | Chwick Jane Director | Award | 664 | $0 |
| Apr 30, 2026 | BARNES JOHN P Director | Award | 664 | $0 |
| Apr 30, 2026 | Seseri Rudina Director | Award | 664 | $0 |
| Apr 30, 2026 | WALTERS KIRK W Director | Award | 664 | $0 |
| Apr 30, 2026 | GODRIDGE LESLIE V Director | Award | 664 | $0 |
| Feb 26, 2026 | Wisler Michael A. Sr. Executive Vice President | Option exercise | 2,588 | $403.7K |
| Feb 26, 2026 | Wisler Michael A. Sr. Executive Vice President | Sale | 8,237 | $1.84M |
| Feb 26, 2026 | Wisler Michael A. Sr. Executive Vice President | Option exercise | 2,163 | $298.7K |
| Feb 13, 2026 | Wisler Michael A. Sr. Executive Vice President | Tax withheld | 994 | $227.3K |
| Feb 13, 2026 | Wisler Michael A. Sr. Executive Vice President | Award | 2,497 | $0 |
| Feb 13, 2026 | Taylor John R. EVP and Controller | Tax withheld | 97 | $22.2K |
| Feb 13, 2026 | D'Arcy Peter Sr. Executive Vice President | Tax withheld | 1,370 | $313.3K |
| Feb 13, 2026 | D'Arcy Peter Sr. Executive Vice President | Award | 3,105 | $0 |
| Feb 13, 2026 | Woodrow Tracy S. Sr. Executive Vice President | Tax withheld | 921 | $210.6K |
| Feb 13, 2026 | Woodrow Tracy S. Sr. Executive Vice President | Award | 2,295 | $0 |
| Feb 13, 2026 | O'Hara Laura P. Sr. EVP & Chief Legal Officer | Tax withheld | 683 | $156.2K |
| Feb 13, 2026 | O'Hara Laura P. Sr. EVP & Chief Legal Officer | Award | 1,889 | $0 |
| Feb 13, 2026 | Urban Julianne Sr. EVP & Chief Auditor | Tax withheld | 341 | $78.0K |
| Feb 13, 2026 | Taylor John R. EVP and Controller | Award | 233 | $0 |
| Feb 13, 2026 | Urban Julianne Sr. EVP & Chief Auditor | Award | 945 | $0 |
| Feb 13, 2026 | KAY CHRISTOPHER E Sr. Executive Vice President | Tax withheld | 1,845 | $422.0K |
| Feb 13, 2026 | KAY CHRISTOPHER E Sr. Executive Vice President | Award | 3,983 | $0 |
| Feb 13, 2026 | PEARSON KEVIN J Vice Chairman | Tax withheld | 3,364 | $769.4K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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