Q2 FY26 · Ended Jun 30, 2026 · View SEC filing
The gain came from paying less for money
Interest income barely moved, so the wider spread came mostly from lower deposit and borrowing costs, not from lending more.
For investorsWhat M&T's spread depends on once rate cuts stop
For foundersRunning a larger business with fewer people
Expenses rose 1.0% against revenue growth of 5.7%, as headcount fell and spending shifted toward software and data.
Net income rose 14.3%, but a smaller share count spread it across fewer owners, lifting per-share earnings further.
Core deposits equal 79% of earning assets and cost less than market funding, which is why rate cuts widened the spread.
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Business Lens describes M&T Bank from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
