M&T Bank Q1 2025 results summary

Net income was $584 million, with diluted earnings per share of $3.32, compared to $3.86 in Q4 2024 and $3.02 in Q1 2024. Return on average assets was 1.14%, and return on average common shareholders' equity was 8.36%.

Net interest income totaled $1.695 billion, slightly up year over year. Net interest margin expanded to 3.66%, up from 3.58% in the previous quarter, supported by lower funding costs and fewer average earning assets.

Noninterest income was $611 million, down from $657 million in Q4, due to fewer investment gains and lower distributions from investment holdings.

Noninterest expense rose to $1.415 billion, driven by seasonal salary and benefit costs and increased data processing and software expenses. The efficiency ratio stood at 60.5%.

Average loans and leases were $134.8 billion, slightly lower than Q4 due to a decline in commercial real estate loans. Average deposits fell to $161.2 billion, reflecting seasonal declines and brokered time deposit maturities.

Provision for credit losses was $130 million. Net charge-offs improved to 0.34% of average loans, down from 0.47% in Q4. Nonaccrual loans improved to 1.14% of total loans.

The CET1 capital ratio was 11.50%, down 18 basis points from Q4, following $662 million in share repurchases.

Management commented that the quarter reflected the consistency of M&T’s diversified banking model, healthy capital and liquidity levels, and improving credit metrics, with continued investment in technology and customer service.