M&T Bank (MTB) official guidance

We expect continued loan and deposit growth in the second half of the year with full average loans of $141 billion-$143 billion.

We expect to operate the CET1 ratio in the lower part of the 10%-10.5% range unless market conditions start to deteriorate.

Our deposit outlook remains in the $165 billion-$167 billion range with a cumulative interest-bearing deposit beta in the low to mid 50% range.

Our deposit outlook remains in the $165 billion-$167 billion range with a cumulative interest-bearing deposit beta in the low to mid 50% range.

Given the strong credit performance in the first half of the year and our favorable collateral positions, we now expect full-year net charge-offs of 37 basis points.

We expect NII in the lower half of $7.2 billion-$7.35 billion range and the full-year NIM in the high 3.60%.

We expect fee income to be $2.8 billion-$2.85 billion, reflecting broad-based strength in fee income year to date.

Expenses are expected to be at the high end of the $5.5 billion-$5.6 billion range as we continue with our enterprise investments while maintaining overall expense discipline.

Probably second half of the year is about $35 million more in revenues is what you see.

Our taxable equivalent tax rate is expected to be approximately 24% compared to the prior outlook of 24%-24.5%.

Our full year expectations are unchanged from the ranges we discussed in January's earnings call, but I'll discuss some of the current trends we are seeing. NI is trending toward the bottom half of NI outlook of 7.2 to 7.35, which translates into a NIM into the high 360s.

We think that other additional servicing will start to come back onto our run rate in the second half of the year with an annual run rate in the $30 million-$40 million range from a revenue perspective.

The full-year average deposits are expected to be $165-$167 billion.

As far as the earning assets, it's growing about 3% if you look at it on a point-to-point basis.

We also included in the outlook approximately $31 million in intangible amortization.

So I think we're confident we're going to have good loan growth. I mean, if you look at loan growth for the whole company, it's in total probably be in the 3%-5% range.

If you look and put it all together, we are generating positive operating leverage in 2026, probably 150 basis points plus or minus.

We think that will kind of continue in 2026, so be in the 16% range.

And our goal is to get it to 17% by 2027.

This outlook includes our usual first quarter seasonal salary and benefit increase, which is estimated to be $110 million.