M&T Bank Corporation reported net income of $584 million for the first quarter of 2025, resulting in diluted earnings per common share of $3.32. This compares to $681 million and $3.86 per share in the fourth quarter of 2024, and $531 million and $3.02 per share in the year-ago first quarter.
The bank's taxable-equivalent net interest income was $1,707 million, a 2% decrease from the fourth quarter of 2024, but a 1% increase from the first quarter of 2024. The net interest margin expanded to 3.66% from 3.58% in the prior quarter and 3.52% in the year-ago quarter. The provision for credit losses decreased to $130 million from $140 million in Q4 2024 and $200 million in Q1 2024.
Nonaccrual loans decreased by $150 million sequentially and $762 million year-over-year to $1.5 billion at March 31, 2025. The allowance for credit losses as a percentage of loans outstanding increased slightly to 1.63% from 1.61% at December 31, 2024, reflecting a modest deterioration in macroeconomic forecasts. M&T repurchased 3,415,303 shares of its common stock for $662 million during the quarter.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.