M&T Bank（MTB）Q3 EPS靠低拨备勉强超预期，核心NII/NIM、贷款与存款全线逊预期

M&T Bank's ( MTB ) Q3 earnings topped analyst estimates on the back of lower-than-expected provision for credit losses. The Buffalo, New York-based regional lender's Q3 diluted earnings per common share fell quarter-over-quarter to $5.04 from $5.32, but increased from $4.82 in the same period a year ago. The metric surpassed the Visible Alpha consensus of $4.95. Net interest income was largely unchanged from the prior quarter at $1.79B, but increased from $1.76B in the year-ago quarter. The metric fell short of the average analyst estimate of $1.82B. Net interest margin fell to 3.65% from 3.70% in Q2 and 3.69% in the same period a year ago. The metric remained below the consensus of 3.67%. Noninterest income of $743M, increased from $740M a quarter ago and decreased from $752M a year ago. Provision for credit losses increased to $135M from $120M a quarter ago and $125M a year ago, against $143.9M consensus. The bank had loans of $143.30B at the end of the quarter, compared to $140.65B a quarter ago and $135.89B a year ago. Q3 loans compare with the analyst estimate of $144.76B. Deposits reached $166.78B from $163.52B a quarter ago and $162.58B a year ago, vs. $170.00B consensus. "M&T's third quarter results were highlighted by strong loan and deposit growth, stable credit and a solid capital position. Fee income in the recent quarter continues to reflect the breadth of M&T's franchise and our ability to meet customers' evolving needs through a wide range of financial capabilities," said CFO Daryl Bible.