M&T Bank Corp Q1 2023 Earnings Call Summary - Thomson StreetEvents

M&T Bank Corp Q1 2023 Earnings Call Summary

M&T Bank Corp Q1 2023 Earnings Call Summary - Thomson StreetEvents
M&T Bank Corp Q1 2023 Earnings Call Summary
Published Apr 17, 2023
20 pages (12914 words) — Published Apr 17, 2023
Price US$ 54.00  |  Buy this Report Now

About This Report

  
Abstract:

Edited Brief of MTB.N earnings conference call or presentation 17-Apr-23 3:00pm GMT

  
Brief Excerpt:

...b. Impact of People's United Bank merger. 2. Revenues have grown over $970m or 67% YoverY. 24% positive operating leverage YoverY. a. 3. Pre-provision net revenues more than doubled since last year to $1.1b. 4. Credit remained solid with net charge-offs still below long-term avg. 5. Capital levels remained strong with CET1 ratio estimated to end 1Q at 10.15%. 6. Repurchased $600m in common shares; representing 2% of outstanding common stock. 7. Board approved an 8% or $0.10 per share increase in quarterly common dividend to $1.30 per share. 8. Tangible common equity per share increased 3% to $88.81 per share. B. People's United: 04/01/23 marked one-year anniversary of closing of People's United acquisition. 1. Pleased with results of the largest acquisition in Co.'s history. a. b. Tangible book-value dilution was only 4% and has been earned back already. c. Merger costs were less than anticipated at the time of announcement. d. Targeted expense synergies have largely been realized and are...

  
Report Type:

Brief

Source:
Thomson StreetEvents
Company:
T Bank Corp
Ticker
MTB.N
Time
3:00pm GMT
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
Thomson StreetEvents. "M&T Bank Corp Q1 2023 Earnings Call Summary" Apr 17, 2023. Alacra Store. May 22, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q1-2023-M-T-Bank-Corp-Earnings-Call-B15520700>
  
APA:
Thomson StreetEvents. (2023). M&T Bank Corp Q1 2023 Earnings Call Summary Apr 17, 2023. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q1-2023-M-T-Bank-Corp-Earnings-Call-B15520700>
  
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