M&T Bank reported a slight beat on both top and bottom lines for the third quarter of 2026, with total revenue reaching $2.54 billion. Results were characterized by 2% sequential growth in average loans and a solid capital position, though net interest margin contracted slightly to 3.65% from 3.70% in the prior quarter.
Key Highlights
- Average loan balances grew $2.6 billion to $143.3 billion, primarily driven by a $1.6 billion increase in commercial real estate and a $634 million rise in consumer loans.
- Taxable-equivalent net interest income remained relatively flat at $1.81 billion, as loan volume gains were tempered by lower interest income on nonaccrual loans.
- Credit quality showed mixed signals with net charge-offs at $127 million (0.35% of average loans) and nonaccrual loans increasing 7% sequentially to $1.3 billion.
- Noninterest expenses rose 3% to $1.39 billion, reflecting an extra working day and continued investments in technology infrastructure and software enhancements.