M&T Bank reports Q4 adjusted EPS $4.57, consensus $4.33

M&T had total assets of $200.7B at December 31, 2022, compared with $155.1B and $198B at December 31, 2021 and September 30, 2022, respectively. M&T estimates that the ratio of Common Equity Tier 1 to risk-weighted assets under regulatory capital rules was approximately 10.4% at December 31, 2022, compared with 10.7% three months earlier and 11.4% at December 31, 2021. Darren King, CFO, commenting on M&T’s results noted, "We are extremely pleased with our results, both in the fourth quarter as well as full year 2022. Diluted net operating earnings per share increased in each quarter following our acquisition of People’s United, including by 19% in the fourth quarter. The integration of the acquired franchise, expansion of the net interest margin and solid growth in commercial loan balances position M&T to continue its strong performance into 2023."