M&T Bank has made significant progress addressing troubled commercial real estate (CRE) loans, resolving nearly $1 billion in debt in Q2 2024. However, office property loans remain problematic, with criticized loans increasing by 5% from the previous quarter. Despite this, the bank’s overall criticized CRE loans only decreased slightly. M&T continues to reduce its CRE exposure, shrinking its portfolio by 10% while growing its total loan book. CFO Daryl Bible acknowledged ongoing challenges, especially in office loans, but emphasized that current workouts and modifications are improving the bank’s position. The bank’s Q2 profits and revenue have dropped year-over-year.
M&T Bank
