RiverNorthPhotography/iStock Unreleased via Getty Images
M&T Bank (NYSE:MTB) said Friday that the Company’s regulatory minimum CET1 ratio implied by the preliminary SCB is now 8.3%, down from 8.5%. M&T expects the second quarter 2024 CET1 ratio to be over 11.35%.
As a result of the Federal Reserve’s stress test, M&T’s Bank (MTB) preliminary stress capital buffer requirement fell to 3.8% from 4.0% previously. The Federal Reserve Board will provide the Company’s final SCB requirement on or before Aug. 31, 2024. Once finalized, the new SCB requirement will be in effect beginning on October 1, 2024.
The regional bank announced dividend of $1.35, up from $1.30 from prior quarter in May.