The company gave an outlook for 2024 taxable-equivalent net interest income of $6.85 billion to $6.90 billion, fee income of $2.3 billion to $2.4 billion, and GAAP expense of $5.25 billion to $5.30 billion. It put net charge-offs at about 40 basis points of average loans.

1. 01

   The company gave an outlook for 2024 taxable-equivalent net interest income of $6.85 billion to $6.90 billion, fee income of $2.3 billion to $2.4 billion, and GAAP expense of $5.25 billion to $5.30 billion. It put net charge-offs at about 40 basis points of average loans.

2. 02

   The company said that through August, average loans for Q3 were flat from the linked quarter at $134.6 billion, and average deposits declined from the linked quarter to $160.7 billion. It said Q3 share repurchases of $200 million were substantially complete.

3. 03

   The company reported a CET1 ratio of 11.5% as of June 30, 2024, a tangible common equity to tangible assets ratio of 8.6%, and a Tier 1 capital ratio of 13.2%. It said accumulated other comprehensive income related to AFS securities and pensions has an impact of about 19 basis points on regulatory capital.

4. 04

   M&T said it posted an investor presentation to its website on September 10, 2024. The company said it may use the presentation in conversations with investors and analysts.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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