Benzinga  Jun 10  Comment 
In a note out on Tuesday, Deutsche Bank Markets Research analyst Matt O'Connor commented on which banks will likely benefit most from a higher interest rate environment. O'Connor feels that JPMorgan Chase & Co. (NYSE: JPM) and M&T Bank...
Benzinga  Apr 28  Comment 
Below are the regional-northeast banks stocks on the NYSE and the NASDAQ in terms of revenue. The trailing-twelve-month revenue at M&T Bank Corporation (NYSE: MTB) is $4.35 billion. M&T Bank's operating margin for the same period is 38.89...
Wall Street Journal  Apr 20  Comment 
M&T Bank said its first-quarter earnings climbed, driven by higher mortgage banking revenue, though the profit missed Wall Street estimates.
Wall Street Journal  Apr 17  Comment 
M&T Bank Corp. and Hudson City Bancorp Inc. said Friday that they have extended the timeline for their merger yet again, as the firms wait to complete a deal first agreed upon almost three years ago.
Forbes  Apr 17  Comment 
Wall Street is optimistic about M&T Bank, which is slated to report its first quarter results on Monday, April 20, 2015. Analysts project a profit of $1.76 a share, a rise from $1.66 per share a year ago.The consensus estimate has dipped over the...
Benzinga  Apr 13  Comment 
Analysts at Wells Fargo downgraded M&T Bank Corporation (NYSE: MTB) from Market Perform to Underperform. M&T Bank shares have surged 2.93% over the past 52 weeks, while the S&P 500 index has gained 14.83% in the same period. M&T Bank shares...
Wall Street Journal  Apr 7  Comment 
Hudson City Bancorp said its merger with M&T Bank has been delayed again and won't close by its previously announced date of May 1.
TheStreet.com  Apr 6  Comment 
NEW YORK ( The Deal) -- Hudson City Bancorp and M&T Bank on Monday said they will "take a short period of time to review the situation" after the Federal Reserve on Friday said that it won't be able to complete its regulatory review of...


M&T Bank Corporation (NYSE: MTB) is a bank with principal offices located in Buffalo, New York and branches across New York, Pennsylvania, Maryland, Delaware, New Jersey, Virginia, West Virginia, Washington D.C. and the Cayman Islands. M&T offers a variety of financial services (i.e. loans, leases, checking services, deposits) to consumers, businesses, institutional clients, government organizations and financial firms. M&T makes most of its money from its lending operations, which are focused mainly on consumers and small and medium sized businesses within New York, PA, MD, VA, and Washington D.C. Its operations are divided into the segments Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.

Business Growth

For the fiscal year 2010, M&T earned net income of $736 million, a 94% increase from the previous year. This increase was driven primarily by a higher net interest income and lower credit costs. The bank earned $2.3 billion in net interest income, a 10% increase from 2009.[1]

Trends and Forces

Exposure to lending/credit risks

As loaning is a large part of the bank's operations, it has high exposure to credit risk, and relies on accurately predicting how well its customers will repay their loans. The corporation must maintain proactive credit risk management and constantly weigh ongoing economic factors--should they overestimate its customers' ability to repay loans, the bank's overall performance will suffer.

Exposure to market conditions

Changes in interest rates inversely affect a bank's net interest margin — the difference between the yield the bank earns on assets and the interest rate it pays for deposits and other sources of funding. Interest rate fluctuations, such as in the Federal Funds Rate (the rate at which financial institutions lend federal funds to other depository institutions) and Prime Rate (rate at which banks lend to their highest-credited consumers) affect bank products such as loans, deposits, securities, and short-term lending. As interest rates rise, banks are forced to pay higher rates on deposits and other interest bearing accounts. Meanwhile consumer demand for mortgages and other loan products diminishes as borrowing becomes more expensive. The combination of these two effects reduces both the volume of loans and the profitability of each loan. Rising interest rates also have the potential to increase a bank's defaults as holders of adjustable rate mortgages find themselves unable to meet their obligations.


2008 Financial Comparison M&T Bank (MTB) U.S. Bancorp (USB)[2] Sovereign Bancorp (SOV) Regions Financial Corporation (RF)[3] BB&T (BBT)[4] Bank of America (BAC)[5] Wells Fargo (WFC)[6]
Net Interest Income $Mil 1,939.8 7,866.00 11,112.00 6,562.40 7,207.00 85,684.0 34,898.00
Provision for Loan Losses $Mil 412.00 3,096.00 5,101.00 2,057.00 1,445.00 26,825.00 15,979.00
Net Income $Mil 555.90 2,946.00 (46.00) (5,595.80) 1,519.00 4,008.00 2,655.00
Q4 2008 Net Income $Mil 102.20 330.00 (1,421.60) (6,218.30) 305.00 (1,789.00) (2,734.00)
TARP Funding $Bil 6.6 3.6 3.5 3.1 45.0 25.0
Price to Book 0.89 1.08 0.15 0.14 0.52 0.14 1.02
Price to Book Compared to Industry Average (0.75) +0.14 +0.33 -0.60 -0.61 -0.23 -0.61 +0.27


  1. [MTB 2010 10-K Pg. 38]
  2. Reuters, USB
  3. Reuters, RF
  4. Reuters, BBT
  5. Reuters, BAC
  6. Reuters, WFC, "Financial Statements"
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