
M&T Bank quarterly profit rises on higher fees, lower rainy day funds
Shares of the Buffalo, New York-based regional bank, which also set aside lower buffers in the quarter for potential losses on loans, were up 1.4% in premarket trading.
U.S. consumers have remained healthy despite heightened uncertainty from tariffs and geopolitical turmoil.
Executives across industries have noted that sentiment is improving, with businesses seeking further clarity on trade and monetary policy before making investments. Dealmaking has also picked up, anchored by tech-heavy initial public offerings and multi-billion dollar buyouts.
M&T's total noninterest income rose to $683 million in the second quarter from $584 million in the year ago. This reflected a 23% increase in mortgage banking revenues, helped by higher residential mortgage loan servicing income.
Trust income rose to $182 million from $170 million.
The lender's provision for credit losses fell to $125 million from $150 million a year ago.
M&T has historically had greater exposure to commercial real estate (CRE) loans compare with other regional banking peers.
The lender has been trying to reduce the concentration of CRE loans on its balance sheet as the sector continues to struggle amid elevated interest rates and a dour macroeconomic outlook.
Analysts believe the bank's loan growth will increasingly start pulling ahead of peers as CRE headwinds fade. The company recently said CRE forms about 19% of its balance sheet.
M&T's average CRE loans fell 19.5% to $25.33 billion in the quarter, while average consumer loans rose to $25.35 billion from $21.97 billion in the year-ago period.
Its net income rose to $679 million, or $4.24 per share, in the three months ended June 30 from $626 million, or $3.73 per share, a year ago.
Melden Sie sich an, um Ihr Portfolio aufzurufen.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 minutes ago
- Yahoo
Dan Ives Calls Microsoft 'Scottie Scheffler Of Software' Ahead Of Earnings — Says Satya Nadella-Led Cloud Giant Is Firing On All Cylinders In AI Boom
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Wedbush Securities analyst Dan Ives compared Microsoft Corp. (NASDAQ:MSFT) to world No. 1 golfer Scottie Scheffler ahead of the tech giant's fourth-quarter earnings release Wednesday after market close. What Happened: 'We expect more good news next week from Redmond as Nadella & Co. will deliver another robust quarter driven by the AI Revolution,' Ives wrote on X Friday. 'The Scottie Scheffler of software is firing on all cylinders as this cloud stalwart is front and center as the core AI enterprise foundation.' The comparison references Scheffler's dominant performance in professional golf. The 29-year-old American has held the world No. 1 ranking for over 100 weeks and won four major championships, according to the Official World Golf Ranking. Trending: 7,000+ investors have joined Timeplast's mission to eliminate microplastics— Microsoft trades at $510.80, with analysts setting a consensus price target of $551.07 based on 30 ratings. Citigroup issued the highest target at $613 while JPMorgan set the lowest at $475 in May. Ives maintains an Outperform rating with a $600 price target, calling it 'probably conservative.' He projects Microsoft will join Nvidia Corp. (NASDAQ:NVDA) in the $4 trillion market cap club this summer, with potential for $5 trillion within 18 months. Why It Matters: The Redmond-based company faces scrutiny over workforce decisions. Vice President JD Vance criticized Microsoft for laying off 9,000 American workers while increasing H-1B visa applications. CEO Satya Nadella addressed the cuts in an employee memo Thursday, saying the decisions 'weigh heavily' on him. Despite layoffs, Microsoft expanded its AI team by hiring approximately 24 employees from Alphabet Inc.'s (NASDAQ:GOOGL) (NASDAQ:GOOG) DeepMind division. Ives expects over 70% of Microsoft's installed base to adopt AI functionality within three years, potentially adding $25 billion in revenue by fiscal 2026. Microsoft allocated $80 billion in capital expenditure guidance for fiscal 2025 to expand data center capacity and capitalize on AI demand trajectory. Read Next: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Image via Shutterstock This article Dan Ives Calls Microsoft 'Scottie Scheffler Of Software' Ahead Of Earnings — Says Satya Nadella-Led Cloud Giant Is Firing On All Cylinders In AI Boom originally appeared on
Yahoo
2 minutes ago
- Yahoo
Larry Ellison to Hold 35.5% of Family's Voting Rights in New Paramount, National Amusements After Skydance Merger Closes
Upon closing of Paramount Global and Skydance Media's $8 billion merger, Oracle co-founder and chairman Larry Ellison will hold a minority voting interest of approximately 35.5% in the combined company. When Skydance first submitted its broadcast license transfer application to the FCC in September, the initial filing stated that the Skydance investor consortium would hold 100% of the equity and voting interests in National Amusements Inc., the holding company for Paramount's controlling stake. More from TheWrap Larry Ellison to Hold 35.5% of Family's Voting Rights in New Paramount, National Amusements After Skydance Merger Closes Paramount-Skydance Merger Expected to Close Aug. 7 As FCC Clears Paramount-Skydance Deal, All Eyes Are on Rebuilding the Media Giant As Skydance-Paramount Merger Closes, the 'South Park' Trump Takedown Shows the Fight Is On | Analysis Pinnacle Media, a group of three ventures formed 'as special-purpose vehicles to hold the Ellison family's interest in NAI and Paramount,' was set to control approximately 77.5% of such interests, while RedBird Capital Partners was expected to hold the remaining approximately 22.5%. The move signaled that the elder Ellison was poised to have a large role in New Paramount. But that was later amended in October, with Skydance stating that David Ellison would control 100% of the family's voting interest as its 'sole manager.' Now, according to the final order released by the Federal Communications Commission on Thursday, another amendment was made to Skydance's application on July 16, which states that the younger Ellison will grant Sayonara LLC, which is controlled by the elder Ellison through a revocable trust, a voting interest equal to approximately 35.5%. Meanwhile, Pinnacle Media will grant the younger Ellison 64.5% of its respective voting interest in NAI. In accordance with the voting percentages, David Ellison and Sayonara will have the right to designate the Ellison family directors of NAI and New Paramount. The amendment notes that Sayonara will not have any 'veto rights, or any special or outsized voting rights,' in NAI or New Paramount as a result of the minority voting interest. It added that the changes were being undertaken for 'the sake of efficiency and cost savings at New Paramount.' Under the two-step deal, Skydance is set to acquire controlling shareholder Shari Redstone's holding company National Amusements, which controls 77.4% of the Paramount Class A common stock outstanding and approximately 9.5% of the overall equity of the company, before merging with the Hollywood studio. The deal provides $2.4 billion for Redstone, $4.5 billion to non-NAI Paramount shareholders and an additional $1.5 billion in new capital to help pay down debt and recapitalize the company's balance sheet. Larry Ellison is providing $6 billion in financing for the deal, while the remainder will come from RedBird. Skydance's consortium of investors will control 70% of shares outstanding. The combined company will have an enterprise value of $28 billion, while Skydance is being valued at $4.75 billion. David Ellison will serve as New Paramount's CEO, while Jeff Shell will serve as president. Redstone will exit Paramount's board of directors and Paramount co-CEO Chris McCarthy will exit the company following the deal's closing. The company's stock will also begin trading on the Nasdaq under the ticker symbol PSKY. Shares of Paramount closed down 1.58% at $13.05 apiece on Friday. The stock is up 13.8% in the past year and 23% year to date. As of the end of Friday's trading session, Paramount has a market capitalization of $9.19 billion. The post Larry Ellison to Hold 35.5% of Family's Voting Rights in New Paramount, National Amusements After Skydance Merger Closes appeared first on TheWrap.


Bloomberg
4 minutes ago
- Bloomberg
NASA Says Thousands of Employees Set to Resign from Space Agency
NASA will lose roughly 3,870 employees through a voluntary resignation program, part of a broad push from President Donald Trump's administration to reduce the federal workforce. The numbers are subject to change as NASA reviews applications, including if an employee withdraws from the program or a resignation isn't approved, the US space agency said in a statement on Friday.