M&T Bank Corporation (MTB)

M&T Bank Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	8,489	8,021	5,237	3,749	3,975	4,442
Interest Income on Investments	2,570	2,203	1,010	190	217.66	437.41
Total Interest Income	11,059	10,224	6,247	3,939	4,193	4,880
Interest Paid on Deposits	3,346	2,417	295	52	217.04	485.35
Interest Paid on Borrowings	867	692	130	62	109.36	263.98
Total Interest Expense	4,213	3,109	425	114	326.4	749.33
Net Interest Income	6,846	7,115	5,822	3,825	3,866	4,130
Net Interest Income Growth (YoY)	-5.19%	22.21%	52.21%	-1.07%	-6.39%	1.42%
Trust Income	659	680	741	645	601.88	572.61
Mortgage Banking Activities	431	409	357	571	566.64	457.77
Income From Trading Activities	40	49	27	24	40.54	62.04
Gain (Loss) on Sale of Assets	-	225	136	-	-	-
Gain (Loss) on Sale of Investments	-4	4	-6	-21	-9.42	-29.96
Gain (Loss) on Sale of Equity Investments	25	20	30	30	53	37
Other Non-Interest Income	693	666	625	516	465.02	481.24
Total Non-Interest Income	2,348	2,528	2,357	2,167	2,088	2,014
Non-Interest Income Growth (YoY)	-10.79%	7.25%	8.77%	3.76%	3.71%	8.50%
Revenues Before Loan Losses	9,194	9,643	8,179	5,992	5,955	6,144
Provision for Loan Losses	695	645	517	-75	800	176
Revenue	8,499	8,998	7,662	6,067	5,155	5,968
Revenue Growth (YoY)	-9.03%	17.44%	26.29%	17.70%	-13.63%	2.96%
Salaries and Employee Benefits	2,978	2,879	2,574	1,961	1,871	1,825
Federal Deposit Insurance	350	315	90	70	53.8	41.54
Amortization of Goodwill & Intangibles	55	62	56	10	14.87	19.49
Selling, General & Administrative	1,574	1,596	1,467	1,108	762.29	763.18
Other Non-Interest Expense	488	527	525	419	683.59	721.69
Total Non-Interest Expense	5,445	5,379	4,712	3,568	3,385	3,371
EBT Excluding Unusual Items	3,054	3,619	2,950	2,499	1,770	2,597
Legal Settlements	-	-	-	-	-	-50
Pretax Income	3,054	3,619	2,612	2,455	1,770	2,547
Income Tax Expense	665	878	620	596	416.37	618.11
Net Income	2,389	2,741	1,992	1,859	1,353	1,929
Preferred Dividends & Other Adjustments	128	105	101	82	74.09	79.64
Net Income to Common	2,261	2,636	1,891	1,777	1,279	1,850
Net Income Growth	-21.02%	37.60%	7.15%	37.38%	-29.86%	0.58%
Basic Shares Outstanding	167	166	163	129	129	134
Diluted Shares Outstanding	167	167	164	129	129	134
Shares Change (YoY)	-0.66%	1.81%	27.34%	0.08%	-4.28%	-6.72%
EPS (Basic)	13.58	15.85	11.59	13.81	9.94	13.76
EPS (Diluted)	13.52	15.79	11.53	13.80	9.94	13.75
EPS Growth	-22.02%	36.95%	-16.45%	38.86%	-27.75%	7.99%
Dividend Per Share	5.300	5.200	4.800	4.500	4.400	4.100
Dividend Growth	3.92%	8.33%	6.67%	2.27%	7.32%	15.49%
Effective Tax Rate	21.77%	24.26%	23.74%	24.28%	23.53%	24.27%

Source: S&P Capital IQ. Banks template. Financial Sources.