Strong Financial Performance
M&T Bank Corporation reported a net income of $792 million, up from $716 million in the previous quarter. The diluted GAAP earnings per share increased to $4.82 from $4.24. The net interest margin rose to 3.68% with a record fee income level.
Improved Asset Quality
Asset quality continued to improve with a $584 million or 7% reduction in commercial criticized balances and a $61 million or 4% reduction in non-accrual loans.
Increased Dividends and Share Repurchases
M&T Bank Corporation increased its quarterly dividend per share by 11% to $1.50 and executed $409 million in share repurchases.
Sustainability and Community Impact
The bank made significant progress towards sustainability goals, including $5 billion in sustainable lending and investments and over $58 million contributed to nonprofits.