M&T Bank's first quarter 2026 EPS beat estimates, driven by a resilient 3.71% net interest margin and a $1.25 billion share buyback.

M&T Bank reported first quarter 2026 revenue of $2.44 billion and diluted EPS of $4.13, beating consensus estimates. Net income increased 14% year-over-year to $664 million, supported by growth in both net interest income and noninterest income.

Key Highlights

• The bank's net interest margin (NIM) expanded to 3.71%, slightly beating the 3.7% estimate and widening by 2 basis points from the prior quarter due to lower funding costs.
• M&T executed a significant capital return, repurchasing 5.5 million shares for a total cost of $1.25 billion during the quarter.
• Credit quality showed improvement year-over-year, with nonaccrual loans declining to 0.89% of total loans from 1.14% in the year-ago quarter, while the provision for credit losses was $140 million.