Market Updates
M&T Bank Net Falls 19%, Credit Loss Allowance Ratio Held at 1.6%
Scott Peters
20 Apr, 2022
New York City
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M&T Bank said first quarter 2022 net interest income declined 8% to $904 million, net income fell 19% to $362 million, and earnings per share fell to $2.62 from $3.33 a year ago. The bank also completed the acquisition of People's United for $8.4 billion on April 1. Loan loss provision in the quarter was $10 million compared to $25 million a year ago and non-performing loans increased to $2.13 billion from $1.96 billion a year ago.
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