M&T Bank (MTB) investor relations material

Executive summary

• Achieved record diluted GAAP EPS of $5.32 in Q2 2026, up from $4.13 in the prior quarter and 25% year-over-year, with the highest quarterly NII since 2023.

• Net income rose to $818 million, a 23% increase from 1Q26 and 14% from 2Q25, driven by broad-based earnings strength and robust loan growth.

• Return on assets improved to 1.51% and return on common equity to 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

• Revenues totaled $2.53 billion, up 4% year-over-year and 3.7% sequentially.

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

• Noninterest income rose 8% sequentially and year-over-year, driven by higher trust income, trading gains, and a $47 million investment distribution.

• Noninterest expense declined 6% sequentially to $1.35 billion, mainly due to lower salaries and benefits; efficiency ratio improved to 52.8%.

• Provision for credit losses was $120 million, down from $140 million in Q1 2026 and $125 million in Q2 2025.

Outlook and guidance

• Net interest income expected in the lower half of $7.2B–$7.35B range; fee income at $2.8B–$2.85B.

• Full-year average loans projected at $141B–$143B; deposit outlook $165B–$167B.

• Expenses guided at $5.5B–$5.6B, with continued investment in enterprise initiatives.

• CET1 capital ratio expected between 10.0% and 10.5%; full-year net charge-offs expected at 37 bps.

• Management noted forward-looking statements are subject to economic, regulatory, and market risks.