$MTB (M&T Bank Corporation)

$MTB {{ '2016-04-20T05:13:46+0000' | timeago}} • Announcement

Financial holding company $MTB said its BoD has declared quarterly dividends of $15.9375 per share on each of its Series A ($MTBPr) and Series C ($MTBPrC) preferred stock. Both dividends are payable May 16, 2016 to holders of record on May 2, 2016.

$MTB {{ '2017-09-07T14:21:32+0000' | timeago}} • Announcement

$MTB announced that its Mid-Atlantic headquarters will move to a new 28-story building being constructed at 1 Light Street in downtown Baltimore. $MTB will take occupancy of the new building in late-2018, and has signed a 15-year lease with two five-year renewal options. Financing for 1 Light Street is being led by Natixis.

$MTB {{ '2017-08-21T17:32:00+0000' | timeago}} • Announcement

$MTB appointed Laura O’Hara as SVP and General Counsel, effective Aug 21, 2017. She will report to Richard Gold, M&T Vice Chairman, and be based in Buffalo, N.Y. O’Hara joins M&T with more than 30 years of litigation and regulatory compliance experience, most recently for Santander Bank, where she was EVP and General Counsel from 2015 to 2017.

$MTB {{ '2017-08-15T21:08:34+0000' | timeago}} • Announcement

$MTB declared a quarterly cash dividend of $0.75 per share on its common stock payable September 29, 2017 to shareholders of record on September 1, 2017.

$MTB {{ '2017-08-15T20:48:51+0000' | timeago}} • Announcement

$MTB announced the election of Richard H. Ledgett, Jr. of Crownsville, Maryland to its BoD, effective August 15, 2017. Mr. Ledgett was also elected to the BoD of M&T Bank, M&T’s principal banking subsidiary.

$MTB {{ '2017-07-19T16:05:59+0000' | timeago}} • Webcast

$MTB forecasts a modest growth in mortgage banking revenues in fiscal 2017. The company is all set to implement its capital plan shortly, and expects the expansion of non-interest margin to be muted in 3Q17. Efficiency ratio is forecast to be below the earlier outlook of 55% in the full fiscal year.

$MTB {{ '2017-07-19T15:31:49+0000' | timeago}} • Webcast

$MTB plans a five cents per share increase in its stock dividend. The company continues to expect average loans to be in the lower single digits this year, compared to last year.  Interest income is seen growing at a more modest rate than in the first half of 2017, and margins are expected to be under pressure from refinancing of long-term debts.

$MTB {{ '2017-07-19T12:01:30+0000' | timeago}} • Announcement

$MTB repurchased 1,409,807 shares of its common stock in Q217, at an average cost of $159.52 per share, for a total cost of $225MM. During the first six months of 2017, M&T repurchased 4,643,003 shares at a total cost of $757MM.

$MTB {{ '2017-07-19T11:56:28+0000' | timeago}} • Announcement

Financial services provider $MTB reported a 13% annual growth in 2Q17 profit to $381MM, helped by a further increase in net interest margin to 3.45%, combined with higher trust income and lower expenses. EPS advanced 19% to $2.35 during the quarter. Net operating income moved up 10% YoY to $386MM, and net interest income grew 9% to $947MM.

$MTB {{ '2017-06-29T12:04:29+0000' | timeago}} • Announcement

$MTB received no objections from the Federal Reserve to its 2017 Capital Plan and its proposed capital actions for the four quarter period beginning July 1, 2017. The plan includes repurchase of up to $900MM of common shares during that four-quarter period and an increase in quarterly dividend in 2Q18 of up to $0.05 to $0.80 per share.

$MTB {{ '2017-05-16T22:30:51+0000' | timeago}} • Announcement

$MTB BoD declared a quarterly cash dividend of $.75 per share on its common stock. The dividend will be payable June 30, 2017 to shareholders of record at the close of business on June 1, 2017.

$MTB {{ '2017-04-17T15:57:35+0000' | timeago}} • Webcast

Regarding digital migration, $MTB said that it has seen a slowdown in its teller assistance transaction, primarily to consumers, over the course of last four years. The company said it is also seeing strong adoption of its updated mobile app with increasing transaction activities.

$MTB {{ '2017-04-17T15:34:06+0000' | timeago}} • Webcast

$MTB expects its loan growth for 2017 to be in the low single digit. The company also expects low nominal growth in total operating expenses for 2017 compared to last year.

$MTB {{ '2017-04-17T11:33:31+0000' | timeago}} • Announcement

$MTB repurchased 3.2MM shares of its common stock during 1Q17 at a total cost of $532MM.

$MTB {{ '2017-04-17T11:30:25+0000' | timeago}} • Announcement

$MTB's provision for credit losses in 1Q17 was $55MM, compared with $49MM in the year-earlier quarter. Net charge-offs of loans were down 12% $43MM. Meanwhile, loans classified as nonaccrual totaled $927MM, compared to $877MM a year ago.

$MTB {{ '2017-04-17T11:22:42+0000' | timeago}} • Announcement

Bank holding company $MTB posted 17% growth in net income in 1Q17, due to a 26 BP widening of the net interest margin to 3.34%. Net income rose to $349MM, or $2.12 per share, from $299MM, or $1.73 per share in 1Q16. Taxable-equivalent net interest income totaled $922MM, up 5% from the year-ago quarter.

$MTB {{ '2017-04-03T14:32:58+0000' | timeago}} • Announcement

$MTB said the duties of former President Mark Czarnecki, who passed away in February, have been assumed by its 3 Vice Chairmen, Richard Gold, Rene Jones and Kevin Pearson, effective immediately.

$MTB {{ '2017-02-27T18:25:11+0000' | timeago}} • Announcement

M&T Bank, the principal banking subsidiary of $MTB, said President and COO Mark Czarnecki died on Feb. 26, 2017 after an extended illness. He was a member of the BoDs of $MTB and M&T Bank, and sat on $MTB's Management Committee.

$MTB {{ '2017-02-23T13:40:11+0000' | timeago}} • Announcement

$MTB declared a quarterly cash dividend of $0.75 per share on its common stock. The dividend will be payable on March 31, 2017 to shareholders of record as on March 6, 2017.

$MTB {{ '2017-01-19T17:14:40+0000' | timeago}} • Webcast

$MTB said the tax rate in 4Q16 was a function of a lot of its employees exercising stock options coming due in Jan. and 2018. Therefore, unless this continues, the company expects the tax rate to go back to what it has seen through in first quarter and throughout 2017.

$MTB {{ '2017-01-19T17:10:59+0000' | timeago}} • Webcast

$MTB stated that in 2017, from a provision perspective, charge-offs will follow along based on non-accruals and delinquencies. The company is not seeing a meaningful acceleration in the rate of charge-offs looking at it for the last three years. On the excess provisioning side, it's going to be a function of loan growth.

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