M&T Bank Corp Says Through Feb Qtd, Average Total Deposits Down $1.3B From Linked Quarter To $163.4B, Driven Primarily By Lower Brokered Deposits; Share Repurchases Paused During Q1 2024
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M&T Bank Corp reported a decrease in average total deposits by $1.3B to $163.4B for the quarter to date, mainly due to lower brokered deposits. Additionally, the bank has paused share repurchases during Q1 2024, according to an SEC filing.
March 05, 2024 | 9:50 pm
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M&T Bank Corp's average total deposits decreased by $1.3B to $163.4B, primarily due to lower brokered deposits, and share repurchases are paused for Q1 2024.
The decrease in total deposits, especially from brokered deposits, could indicate a reduction in liquidity or a strategic shift in funding sources, potentially affecting investor confidence. Pausing share repurchases may signal a cautious approach to capital allocation, possibly due to the deposit decrease or broader economic concerns, which could negatively impact investor sentiment in the short term.
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