M&T Bank Corporation reported its financial results for the first quarter of 2025, revealing a net income of $584 million, a 10% increase from $531 million in the same period last year. The bank's diluted earnings per share rose to $3.32, compared to $3.02 in the first quarter of 2024. However, net income decreased by 14% from the previous quarter's $681 million, primarily due to a decline in net interest income and other income. The bank's net interest income for the quarter was $1.695 billion, a slight increase of 1% year-over-year but down 2% from the fourth quarter of 2024.
The bank's total assets increased to $210.3 billion as of March 31, 2025, up from $208.1 billion at the end of 2024. Total loans and leases decreased slightly to $134.6 billion from $135.6 billion in the previous quarter, with a notable reduction in commercial real estate loans. The bank's provision for credit losses was $130 million, down from $200 million a year earlier, reflecting improved credit quality and a reduction in criticized loans. Nonaccrual loans also decreased to $1.54 billion, representing 1.14% of total loans, down from 1.25% at the end of 2024.
In terms of strategic developments, M&T Bank has continued to focus on its core deposit base, which totaled $165.4 billion, up from $161.1 billion at the end of 2024. The bank's average core deposits represented 78% of its average earning assets. Additionally, the bank has been actively managing its liquidity, with available liquidity sources totaling approximately $89.1 billion as of March 31, 2025. The bank's capital ratios remained strong, with a Common Equity Tier 1 (CET1) capital ratio of 11.50%.
Looking ahead, M&T Bank's management expressed cautious optimism regarding the economic environment, noting potential challenges from inflationary pressures and geopolitical uncertainties. The bank plans to continue monitoring its loan portfolio closely, particularly in the commercial real estate sector, while also focusing on maintaining its strong capital position and liquidity. The bank's forward-looking statements indicate a commitment to navigating the evolving market conditions while supporting its customers and stakeholders.
About M&T BANK CORP
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