M&T Bank Rebounds on Auto Floorplanning Following Third-Quarter Drop

M&T Bank increased floorplan lending to dealers by $123 million due to seasonality in the quarter, according to the bank’s fourth-quarter earnings call. Previously, the bank experienced a 3% drop in floorplanning year over year during the third quarter 2017, reporting a $228 million windfall. The company only cited “seasonality” as a reason for the drop at […]
  • Matthew Wood
  • January 19, 2018
  • Earnings

TCF’s Auto Sector Exit Intensifies Profitability Concerns at Regional Banks

The announcement this week that TCF Bank will shutter its indirect auto finance unit, Gateway One Lending & Finance LLC, caps a year that has been volatile for mid-sized regional banks, according to Peter Winter, analyst at Wedbush Securities. “Most banks are surprised how long the credit cycle has lasted for the [mid-tier] bank group,” […]

M&T Bank Reports Declines in Floorplanning, Gains on Retail Auto

M&T Bank’s commercial and industrial loans were down 3% in the third quarter compared to the same period the year prior, including a $228 million drop in auto floorplanning, the bank disclosed in earnings Wednesday. The company only gave “seasonality” as a reason for the decline, but also saw larger declines in its other commercial […]

M&T Sees First Quarter Loan Growth

M&T Bank said in its first quarter 2014 earnings call that it saw growth in its auto floor plan loans. The bank’s Chief Financial Officer, Rene F. Jones said average consumer loans grew at an annualized rate of 3%, with strong growth in indirect auto loans being partially offset by continued declines in home equity […]