The Buffalo, New York-based lender reported $5.32 in diluted EPS for the second quarter, up 25% from a year earlier
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M&T Bank on Wednesday reported second-quarter net income of $818 million, or $5.32 in diluted earnings per common share, the highest earnings per share in the company's history, the company said. That compared with net income of $716 million, or $4.24 per diluted share, in the same period a year earlier.
Net interest income climbed 4.6% year over year to $1.79 billion, up from $1.71 billion in the second quarter of 2025. The net interest margin widened to 3.70% from 3.62% a year ago. The company said the increase in taxable-equivalent net interest income from the year-earlier quarter reflected growth in average loans and investment securities and favorable repricing of earning assets and interest-bearing liabilities.
Average total loans expanded to $141.4 billion from $135.4 billion in the second quarter of 2025, driven by a $5.0 billion increase in commercial and industrial loans, a $1.4 billion gain in residential real estate loans, and a $1.4 billion rise in consumer loans. Those gains were partially offset by a $1.8 billion decline in average commercial real estate balances, the company said.
Noninterest income totaled $740 million, compared with $683 million in the year-earlier quarter, according to Reuters. Trust income came in at $197 million, up from $182 million a year ago, while mortgage banking revenue slipped 2% to $127 million.
The provision for credit losses eased to $120 million from $125 million in the prior-year period. Nonaccrual loans dropped 23% to $1.2 billion from $1.6 billion at the end of the second quarter of 2025, the company said.
Noninterest expense edged up 1% to $1.35 billion from $1.34 billion a year earlier, driven by higher salaries and technology costs. The efficiency ratio improved to 52.8% from 55.2% a year ago.
M&T repurchased 2.1 million shares of its common stock at a total cost of $465 million during the quarter. The company's Common Equity Tier 1 capital ratio was estimated at 10.19% as of June 30, 2026.
Chief Financial Officer Daryl N. Bible said in a statement that the results "reflect the enduring strength of our franchise and the dedication of our employees."
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