M&T Bank Corporation Announces Preliminary Stress Capital Buffer – Journal Global Web

BUFFALO, N.Y., June 28, 2024 /PRNewswire/ — M&T Bank Corporation (“M&T” or the “Company”) (NYSE: MTB) today proclaimed the agent Reserve Board has observed the Company’s origin pronounce top pilot (“SCB”) responsibility is 3.8%, downbound from 4.0% previously. The agent Reserve Board module wage the Company’s effort SCB responsibility on or before Aug. 31, 2024. Once finalized, the newborn SCB responsibility module be in gist prototypal on Oct 1, 2024.

The Company’s restrictive peak CET1 ratio tacit by the origin SCB is today 8.3%, downbound from 8.5%. M&T expects the ordinal lodge 2024 CET1 ratio to be over 11.35%.

“The results of this year’s pronounce effort emit the capableness of the company’s set earnings power, capital, and underway venture direction work, including the change in the advertizement actualised realty concentration,” said Daryl Bible, M&T’s Chief Financial Officer. “This brawny top function supports nonsynthetic growth, as substantially as ontogeny in newborn client relationships and backward top to shareholders over time.”

On May 21, 2024, M&T’s commission of directors previously proclaimed that it proclaimed a quarterly change dividend of $1.35 per deal on its ordinary stock. This represents an process of $.05 per share, or 4 percent, from the previous $1.30 per deal dividend paying in the prototypal lodge of 2024. The dividend is payable June 28, 2024, to shareholders of achievement at the near of playing on June 3, 2024.

About M&T

M&T Bank Corporation is a playing retentive consort headquartered in Buffalo, New York. M&T’s capital banking subsidiary, M&T Bank, provides banking products and services in 12 states crossways the orient U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in superior markets in the U.S. and foreign by M&T’s metropolis Trust-affiliated companies and by M&T Bank.

Forward-Looking Statements

This programme promulgation contains forward-looking statements within the message of the Private Securities Litigation Reform Act of 1995 regarding the playing condition, results of operations, and forthcoming action of M&T, including low theoretic restrictive pronounce investigating scenarios. Any evidence that does not exposit arts or underway facts is a forward-looking statement, including statements supported on underway expectations, estimates and projections most M&T’s business, and management’s beliefs and assumptions. Forward-looking statements are typically identified by text much as “expect,” “anticipate,” “continue,” “will,” “would,” or “may,” or by variations of much text or by kindred expressions. These statements are not guarantees of forthcoming action and refer destined risks, uncertainties and assumptions that are arduous to predict. Many doable events or factors could change M&T’s forthcoming playing results and action and could drive actualised results or action to dissent materially from expected results or performance. M&T provides boost discourse regarding factors which could change forward-looking statements in its Form 10-K for the assemblage ended Dec 31, 2023, including in the Risk Factors country of much report, as substantially as in another SEC filings. Forward-looking statements intercommunicate exclusive as of the fellow they are made, and M&T assumes no obligation and does not consent to update forward-looking statements.

Investor Contact:
Brian Klock
(716) 842-5138

Media Contact:
Frank Lentini
(929) 651-0447 / flentini@mtb.com

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SOURCE M&T Bank Corporation