In a regulatory filing on Friday evening, the company also guided Q3 net interest income to be lower sequentially at $1.77B-$1.78B due to “higher deposit and wholesale funding costs”, offset by additional day and earning asset repricing from Fed Funds hikes. The company also forecast its CET1 ratio to build from 10.6$ at Q2-end toward 11%. M&T Bank also noted that while net charge-offs are expected to be “lumpy” quarter to quarter, its FY23 expectations remain unchanged at 33bps.
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