M&T Bank (MTB) Q3 2026 Earnings Report
MX:MTB Q3 2026 EPS Results
- Actual EPS
- MXN 94.71
- Consensus EPS
- MXN 92.70
- Beat/Miss
- Beat by +MXN 2.01
- One Year Ago EPS
- MXN 90.58
MX:MTB Q3 2026 Revenue Results
- Actual Revenue
- MXN 64.08B
- Expected Revenue
- MXN 47.58B
- Beat/Miss
- Beat by +MXN 16.50B
- YoY Revenue Growth
- -0.06%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/16/2026
- Time
- Before Open
- Conference Call
- Friday, October 16, 2026
M&T Bank's next earnings date is estimated for January 19, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was overall positive. Management reported solid year-to-date earnings growth, strong loan and deposit growth, robust liquidity, improving fee-income diversification, continued technology and AI investment, and confidence in future net interest income, loan growth, and the 2027 ROTCE objective. These positives were tempered by quarter-over-quarter declines in earnings and net interest margin, higher expenses and deposit costs, modest deterioration in credit metrics, and challenges from higher interest rates.
For the fourth quarter, M&T expects taxable equivalent NII to be $1.83 billion-$1.85 billion, interest margin to be in the mid-3.60s, with the forecast reflecting one rate hike in December; average loans are expected to be $145 billion-$146 billion, average deposits $169 billion-$170 billion, non-interest income $710 million-$730 million, expenses, including intangible amortization, $1.39 billion-$1.41 billion, and net charge-offs 35-40 basis points, while the bank plans to operate a CET1 ratio of 10%-10.25% for the remainder of the year. Management expects modest loan growth with growth in C&I, CRE, and consumer, CRE growth of probably maybe mid-single digit, plus or minus, in that neighborhood, and said 17% is attainable for 2027; over the next 12 months, $6 billion of the investment portfolio will reprice up easily over 100 basis points and about $10 billion of fixed rate loans will reprice up for about 75 basis points.
- Strong Year-to-Date Earnings Growth and ReturnsYear-to-date net operating earnings per share increased 17% from the same period in 2025. Third-quarter net operating ROTA and ROTCE were 1.47% and 17.29%, respectively, both exceeding the targets established for M&T's long-term incentive structure. Third-quarter ROA was 1.4% and ROCE was 11.44%.
- Solid Loan and Deposit GrowthAverage loans held for investment increased $2.6 billion, or 2%, to $143.3 billion, driven by commercial real estate and consumer loans. Average deposits increased $3.3 billion to $166.8 billion, while average short-term borrowings decreased $2.8 billion to $5.2 billion, allowing deposit growth to more than fund the increase in loans.
- Commercial Real Estate and Consumer Lending MomentumAverage CRE loans increased $1.6 billion, or 7%, to $24.9 billion, reflecting continued origination strength and relatively stable payoffs and paydowns. Consumer loans increased $0.6 billion, or 2%, to $27.3 billion, with growth in recreational finance and HELOC portfolios. Management expects growth in C&I, CRE, and consumer loans in the fourth quarter.
- Stable Net Interest Income and Positive Margin OutlookTaxable equivalent net interest income was $1.8 billion, largely unchanged from the linked quarter. Management expects fourth-quarter taxable equivalent NII of $1.83 billion-$1.85 billion and net interest margin in the mid-3.60s. Management said the balance sheet has meaningful repricing opportunities, including $6 billion of investment securities repricing over the next 12 months and approximately $10 billion of fixed-rate loans repricing at about 75 basis points.
- Fee Income Remained Broadly StableNon-interest income was $743 million compared with $740 million in the linked quarter. Mortgage banking revenue increased $25 million to $152 million, primarily because residential mortgage revenue increased $23 million to $119 million following the addition of $63 billion of sub-servicing balances in June.
- Sub-Servicing Business Provides Growth and DiversificationManagement described the mortgage sub-servicing business as an important, counter-cyclical fee income source and said M&T has good systems and trained personnel in the business. The company plans to continue investing in technology and to pursue additional growth opportunities in the space.
- Strong Liquidity PositionInvestment securities and cash at the Federal Reserve totaled $52.2 billion at quarter-end, representing 24% of total assets. Estimated quarter-end LCR was 107%, exceeding the regulatory minimum standards that would be applicable if M&T were a Category III bank.
- Capital and Balance-Sheet Risk ManagementM&T transferred $8.3 billion of residential mortgage-backed securities from available for sale to held to maturity. Management said the action reflected continued discipline in protecting tangible capital and positioning the company for a potential regulatory framework involving AFS-related AOCI and regulatory capital.
- Continued Investment in Technology, AI, and Enterprise InitiativesM&T is investing in technology, simplifying processes, and creating capacity for teams. The bank has hundreds of tracked AI use cases, with AI helping employees make better decisions, reduce manual work, find information faster, and identify risks earlier. Management said these efforts are improving productivity, risk management, and customer experience while enabling greater scalability.
- Branch Expansion and Community EngagementM&T opened new branches in Torrington and Waterbury, Connecticut. More than 100 M&T colleagues participated in the Pan-Mass Challenge, and the bank raised more than $850,000 for cancer research and treatment.
- SBA Lending Leadership and External RecognitionM&T ranked among the nation's top SBA lenders for the 18th consecutive year, remained number one across its footprint, and improved to number five nationally for SBA 7(a) loans by volume for SBA's 2026 fiscal year. American Banker, Fast Company, and InvestmentNews also recognized M&T leaders for their contributions.
- Positive Commercial Loan Pricing and Fee Growth AmbitionsCommercial loan roll-on yields were approximately 10 basis points higher than roll-off yields in the third quarter, and management said the vast majority of loans added met required return hurdles. Fee income represented approximately 28% of revenue, and management identified increasing fee revenue into the 30s as an objective.
- Operating ROTCE Target Remains AttainableManagement said it remains on track for its objective of achieving a 17% ROTCE in 2027, while acknowledging that reaching the target will be challenging, particularly in a higher-rate environment and potentially softer economy.
- M&A Pipeline Remains Active but DisciplinedManagement said M&T is actively talking with potential partners in its footprint and continues to value deposit franchises with operating transaction accounts. There is nothing imminent, but management said a transaction could occur at some point if the opportunity works for both parties.
MX:MTB Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Jan 19, 2027 | 2026 (Q4) | 93.57- | 87.76 | ― | ― |
| Oct 16, 2026 | 2026 (Q3) | 92.7094.71 | 90.58 | 4.56% (+4.13) | |
| Jul 15, 2026 | 2026 (Q2) | 87.5999.97 | 79.68 | 25.47% (+20.30) | |
| Apr 15, 2026 | 2026 (Q1) | 75.4977.61 | 62.39 | 24.40% (+15.22) | |
| Jan 16, 2026 | 2025 (Q4) | 84.1387.76 | 72.54 | 20.98% (+15.22) | |
| Oct 16, 2025 | 2025 (Q3) | 83.1990.58 | 75.54 | 19.90% (+15.03) | |
| Jul 16, 2025 | 2025 (Q2) | 74.9479.68 | 70.09 | 13.67% (+9.58) | |
| Apr 14, 2025 | 2025 (Q1) | 63.9562.39 | 56.75 | 9.93% (+5.64) | |
| Jan 16, 2025 | 2024 (Q4) | 69.4072.54 | 51.49 | 40.88% (+21.05) | |
| Oct 17, 2024 | 2024 (Q3) | 68.4475.54 | 74.79 | 1.01% (+0.75) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
