M&T Bank (MTB) investor relations material

Executive summary

• Net income for Q1 2026 was $664 million, up 14% year-over-year, with diluted EPS rising 24% to $4.13, driven by net interest margin expansion and improved returns on assets and equity.

• Fee income grew 13% year-over-year, with solid contributions across all categories and higher trust income.

• Operational excellence, technology investment, and scalable infrastructure remain priorities, with a focus on customer experience and regional growth.

• $1.25 billion in share repurchases were executed, representing over 3.5% of shares outstanding, alongside $267 million in dividends declared.

• The company received multiple industry awards for leadership, ESG, and customer service.

Financial highlights

• Revenues reached $2.44 billion, up from $2.31 billion in 1Q25; net interest income (taxable equivalent) was $1.76 billion, up 3% year-over-year.

• Net interest margin increased to 3.71%, up from 3.66% year-over-year and 2 bps quarter-over-quarter.

• Noninterest income increased 13% year-over-year to $689 million, with mortgage banking revenues at $127 million.

• Net income was $664 million, down from $759 million in the prior quarter.

• Diluted GAAP EPS was $4.13, compared to $4.67 in the previous quarter.

Outlook and guidance

• Full-year net interest income expected between $7.2 and $7.35 billion, trending toward the lower half of the range.

• Net interest margin expected in the high 360s basis points.

• Fee income projected at $2.675 to $2.775 billion, and GAAP expenses at $5.5 to $5.6 billion.

• Loans expected to grow to $140–$142 billion and deposits to $165–$167 billion.

• CET1 capital ratio targeted at 10.0% to 10.5%, with tax rate guidance at approximately 24%.