Higher borrowing yields continue to support U.S. regional banks as customers adjust to a prolonged high-rate environment. M&T Bank says its second-quarter profit increases as net interest income and trust income improve, while loan growth also adds to the quarterly performance.
Highlights
- M&T Bank reports Q2 net income rises to $781 million ($5.32 per share) from $679 million ($4.24 per share) a year earlier.
- Net interest income increases 4.6% to $1.79 billion and net interest margin widens by 8 basis points to 3.70% in the quarter.
- Loan balances expand to $141.4 billion from $135.4 billion and provision for credit losses declines to $120 million from $125 million.
Quarterly earnings gain on lending and trust revenue
As reported by Reuters, M&T Bank says net income available to common shareholders rises to $781 million, or $5.32 per share, in the three months ended June 30, from $679 million, or $4.24 per share, a year earlier.The Buffalo, New York-based lender says net interest income increases 4.6% to $1.79 billion in the second quarter from a year earlier. Its quarterly net interest margin widens by 8 basis points to 3.70%, reflecting stronger returns on loans relative to deposit costs.
Non-interest income rises to $740 million from $683 million a year earlier. Trust income climbs to $197 million from $182 million, while mortgage banking revenue declines 2% to $127 million.
Credit costs ease as loan balances expand
M&T Bank says its provision for credit losses declines to $120 million from $125 million a year earlier, indicating slightly lower reserve pressure during the quarter.Loan balances increase to $141.4 billion from $135.4 billion, suggesting continued customer demand for borrowing even as interest rates remain elevated. The results also underscore how the current rate environment is still helping U.S. banks generate stronger interest income as businesses and consumers continue to seek financing and investment opportunities.
In our earlier article on Wells Fargo’s second-quarter earnings, we noted that the bank topped revenue and EPS expectations, but shares still slipped as investors focused on softer net interest income and margin pressure. We also highlighted how stronger fee-based businesses—especially wealth management and investment banking—along with solid capital returns helped support the broader earnings picture.
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