M&T Bank’s second-quarter 2026 net income rose to $818 million, up from $664 million in the first quarter, a gain of $154 million or 23%.
Revenue and funding costs moved in opposite directions. Net interest income increased to $1.792 billion from $1.752 billion, while interest expense climbed to $828 million from $784 million. Interest income also rose, to $2.620 billion from $2.536 billion.
Credit costs eased slightly. The provision for credit losses fell to $120 million from $140 million.
Noninterest income improved to $740 million from $689 million. Within that total: Trust and investment services income increased to $235 million from $219 million Mortgage banking revenues were flat at $127 million Service charges on deposit accounts edged up to $107 million from $106 million Card revenues rose to $89 million from $78 million Capital markets and advisory revenues climbed to $41 million from $36 million Other revenues from operations jumped to $95 million from $77 million
That last line was boosted by BLG income of $47 million, up from $33 million in the prior quarter.
Expenses fell sharply quarter over quarter. Total other expense dropped to $1.349 billion from $1.438 billion. The biggest swing came in salaries and employee benefits, which fell to $826 million from $914 million. Other expense lines also moved lower or mixed: Outside data processing and software rose to $154 million from $144 million Equipment and net occupancy slipped to $129 million from $133 million Professional and other services declined to $89 million from $93 million FDIC assessments fell to $18 million from $23 million Advertising and marketing increased to $27 million from $21 million Other costs of operations declined to $99 million from $101 million
Pre-tax income increased to $1.063 billion from $863 million.
On the balance sheet, total assets rose to $219.261 billion at June 30 from $214.736 billion at March 31. Loans increased to $142.530 billion from $139.053 billion, while total deposits climbed to $168.885 billion from $163.741 billion.
Loan balances were higher across the major categories: Commercial and industrial loans: $65.995 billion, up from $65.216 billion Commercial real estate loans: $24.233 billion, up from $22.986 billion Residential real estate loans: $25.128 billion, up from $24.530 billion Consumer loans: $27.174 billion, up from $26.321 billion
The allowance for loan losses increased to $2.176 billion from $2.136 billion. The allowance-to-loans ratio was 1.53%, down slightly from 1.54%.
Nonaccrual loans declined to 0.85% of total loans from 0.89%.
Average earning assets rose to $195.216 billion from $192.594 billion, while average interest-bearing liabilities increased to $140.354 billion from $136.388 billion. The net interest margin held at 3.70%, unchanged from the first quarter, while the net interest spread ticked up to 3.04% from 3.03%. As a result of these announcements, the company's shares have moved 1.16% on the market, and are now trading at a price of $221.19. For the full picture, make sure to review M&T BANK CORP's 8-K report.
