M&T Bank Q3 2026 earnings: EPS rises to $5.04 as loans and deposits grow; buybacks hit $323 million

M&T Bank posted higher per-share earnings in the third quarter even as total net income slipped from a year ago, helped by loan growth and a large share repurchase.

The Buffalo-based regional bank reported net income of $775 million, or $5.04 of diluted earnings per common share, compared with $792 million, or $4.82, in the third quarter of 2025, according to its earnings release Friday. Net income available to common shareholders on a diluted basis was $732 million. Versus the second quarter, net income fell from $818 million and diluted EPS from $5.32.

Taxable-equivalent net interest income was essentially flat with the prior quarter at $1.805 billion, and the net interest margin compressed to 3.65% from 3.70%. The provision for credit losses rose to $135 million from $120 million in the second quarter and $125 million a year earlier. Noninterest income was $743 million, and noninterest expense climbed to $1.393 billion.

Average loans grew $2.6 billion in the quarter, with commercial real estate up $1.6 billion, consumer loans up $634 million and residential real estate up $367 million, the company said in the release. Average deposits rose to $166.8 billion from $163.5 billion in the second quarter. Nonaccrual loans were 0.90% of total loans, up from 0.85% in the prior quarter but below 1.11% a year earlier.

M&T repurchased 1.3 million common shares for $323 million during the quarter. Its common equity Tier 1 capital ratio was estimated at 10.16% at Sept. 30, 2026, compared with 10.19% at midyear and 10.99% a year earlier. Common dividends declared for the quarter totaled $217 million, with preferred dividends of $42 million.

Chief Financial Officer Daryl N. Bible said in the release that results were "highlighted by strong loan and deposit growth, stable credit and a solid capital position."

By the numbers

• Diluted EPS: $5.04 vs. $4.82 a year ago; $5.32 in Q2
• Net income: $775 million vs. $792 million a year ago
• Taxable-equivalent NII: $1.805 billion; NIM 3.65%
• Provision for credit losses: $135 million
• Average loans: $143.3 billion; average deposits: $166.8 billion
• Buybacks: 1.3 million shares for $323 million; CET1 ~10.16%

Sources

1. M&T Bank Corporation, Form 8-K (Items 2.02, 7.01, 9.01), filed Oct. 16, 2026, accession 0000036270-26-000057
2. M&T Bank Corporation, earnings press release (Exhibit 99.1), Oct. 16, 2026

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