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M&T Bank Corporation (NYSE: MTB) maintains this dedicated news hub as the definitive source for corporate developments and financial updates. Our curated collection features official press releases, SEC filings, and market-moving announcements from one of America's leading regional banking institutions.
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M&T Bank has been recognized as the fifth largest SBA lender nationwide for fiscal year 2020, having issued 1,110 loans totaling $157 million. This achievement highlights M&T's dedication to supporting small businesses, particularly during challenging times. Beyond its SBA efforts, the bank facilitated over $7 billion in funding through the Paycheck Protection Program (PPP) for more than 35,000 small businesses. M&T continued to rank as a top lender in several key regions, including Baltimore and Buffalo, contributing significantly to local economies.
M&T Bank announced that Michele Trolli, Executive Vice President and Chief Technology and Operations Officer, has been recognized by American Banker as one of the "25 Most Powerful Women to Watch" for the second consecutive year. This accolade honors her impactful contributions to the banking sector, where she leads a significant portion of M&T's technology and operations, overseeing over 25% of the bank's workforce. Trolli's efforts include driving innovation, fostering diversity, and enhancing remote work capabilities during the pandemic.
M&T Bank Corporation (MTB) will announce its Q3 2020 earnings results on October 22, 2020, before the market opens. A conference call will follow at 11:00 a.m. ET. Participants can join via toll-free number (877) 780-2276 or international number (973) 582-2700, referencing conference ID #1169149. A replay will be available until October 29, 2020. The conference call will also be accessible through M&T's website. The earnings announcement will contain forward-looking statements and significant information.
M&T Bank Corporation (NYSE:MTB) will participate in the Barclays Global Financial Services Conference virtually on September 16, 2020, at 7:30 a.m. (ET). A live audio-webcast will be available online, and a replay will follow the event. M&T, headquartered in Buffalo, New York, offers banking services across several states, including New York, Maryland, and Virginia. The company also provides trust-related services through its Wilmington Trust-affiliated companies.
M&T Bank Corporation (NYSE: MTB) has declared a quarterly cash dividend of $1.10 per share on its common stock. This dividend will be payable on September 30, 2020, to shareholders of record at the close of business on September 1, 2020.
The declaration reflects M&T's commitment to returning value to its shareholders, maintaining a consistent dividend policy amidst economic conditions.
M&T Bank Corporation (NYSE: MTB) appointed Francesco Lagutaine as Senior Vice President and Chief Marketing and Communications Officer, effective August 17, 2020. Lagutaine has over 20 years of experience in global marketing and financial services, having previously held roles at Manulife and Citibank Asia Pacific. His expertise includes customer-focused marketing strategies and digital marketing. The appointment aims to enhance M&T's customer insights and support the bank's growth ambitions, emphasizing its commitment to better serve its customers.
M&T Bank Corporation (MTB) reported Q2 2020 financial results, revealing a significant drop in earnings. Diluted earnings per share fell to $1.74 from $3.34 in Q2 2019, with net income dropping to $241 million, down 49%. The provision for credit losses increased sharply to $325 million due to COVID-19 impacts. Despite a 13% rise in mortgage banking revenue, overall net interest income decreased by 8% to $961 million. Total assets grew to $139.5 billion, primarily fueled by an increase in loans and deposits, including $6.5 billion from the Paycheck Protection Program.
M&T Bank Corporation (MTB) announced key insights from the 2020 Dodd-Frank Act Stress Test results disclosed by the Federal Reserve.
The bank's preliminary stress capital buffer is set at 2.5%, aligning with a 7.0% Common Equity Tier 1 ratio threshold effective October 1, 2020. As of March 31, 2020, M&T’s Common Equity Tier 1 ratio stood at 9.19%, surpassing the minimum required. The current quarterly dividend of $1.10 is compliant with Federal Reserve guidelines; however, the bank will not repurchase shares during Q3 2020.
M&T Bank has appointed Tracy Woodrow as Chief Human Resources Officer (CHRO) following the retirement of Janet Coletti after 35 years. Woodrow, who joined M&T in 2013 and previously served as the Bank Secrecy Act Officer, will focus on diversity, inclusion, and employee development for over 18,000 colleagues. Coletti was pivotal in successful mergers and employee experience enhancements during her tenure. The bank continues to strengthen its leadership team with a focus on internal growth and transformation.
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