Regional banks Q3: RF adj EPS $0.73 vs $0.66 as NCOs drop to 29bp, MTB $5.04 beat but NIM slips. CFG/TFC/TRV next
Posted: Fri Oct 16, 2026 10:30 am
The regional-bank leg of earnings season has started. Two of the five names due before the open are out, and they read quite differently.
Regions (RF):
- Adjusted EPS $0.73 vs ~$0.66 consensus (GAAP $0.71). Adjusted revenue $1.988bn, roughly in line
- NIM up 2bp to 3.68%, and net interest income +2% q/q
- Credit is the headline: annualised net charge-offs fell to 0.29% from 0.42%, and NPLs and criticised business loans also went down
- Record capital-markets income (+27% q/q, M&A and underwriting). The soft spot is average deposits, -1.2% q/q, as some large corporate clients moved cash off balance sheet
M&T (MTB):
- Diluted EPS $5.04 ($5.08 on an operating basis) vs ~$4.93 consensus
- Less tidy underneath: NIM fell 5bp to 3.65%, net charge-offs rose to 0.35% from 0.23%, and expenses were +3% q/q on tech spend
- Bought back $323M of stock. CET1 is about 10.2%
What both releases have in common: higher long yields are eating into book value. M&T's AOCI fell by $588M in the quarter "reflecting rising interest rates", and Regions' tangible book per share dropped to $12.65 from $13.78. With long-end yields this high, that's the line I'd expect analysts to press on during the calls.
Still to come before the US open: CFG, TFC and TRV, due roughly 11:20–12:00 London (06:20–07:00 ET). Calls start from 13:00 London. Feel free to add the numbers below as they cross.
For scalpers, I'd expect KRE and the individual names to trade the call commentary more than the headline beats. On an opex Friday, I'd rather wait for the first 15–30 minutes to set a range than chase the pre-market gap.
Sources: [Regions Q3 release (via StockTitan)](https://www.stocktitan.net/news/RF/regi ... 03m70.html) | [M&T Q3 release (PR Newswire)](https://www.prnewswire.com/news-release ... 10052.html) | [Newsquawk consensus and timings](https://www.newsquawk.com/headlines/dai ... tober-2026)
Is anyone trading RF on the credit improvement, or fading regionals into the calls while long-end yields are this high? And which matters more to you today, TFC's NII guide or TRV's catastrophe losses?
Regions (RF):
- Adjusted EPS $0.73 vs ~$0.66 consensus (GAAP $0.71). Adjusted revenue $1.988bn, roughly in line
- NIM up 2bp to 3.68%, and net interest income +2% q/q
- Credit is the headline: annualised net charge-offs fell to 0.29% from 0.42%, and NPLs and criticised business loans also went down
- Record capital-markets income (+27% q/q, M&A and underwriting). The soft spot is average deposits, -1.2% q/q, as some large corporate clients moved cash off balance sheet
M&T (MTB):
- Diluted EPS $5.04 ($5.08 on an operating basis) vs ~$4.93 consensus
- Less tidy underneath: NIM fell 5bp to 3.65%, net charge-offs rose to 0.35% from 0.23%, and expenses were +3% q/q on tech spend
- Bought back $323M of stock. CET1 is about 10.2%
What both releases have in common: higher long yields are eating into book value. M&T's AOCI fell by $588M in the quarter "reflecting rising interest rates", and Regions' tangible book per share dropped to $12.65 from $13.78. With long-end yields this high, that's the line I'd expect analysts to press on during the calls.
Still to come before the US open: CFG, TFC and TRV, due roughly 11:20–12:00 London (06:20–07:00 ET). Calls start from 13:00 London. Feel free to add the numbers below as they cross.
For scalpers, I'd expect KRE and the individual names to trade the call commentary more than the headline beats. On an opex Friday, I'd rather wait for the first 15–30 minutes to set a range than chase the pre-market gap.
Sources: [Regions Q3 release (via StockTitan)](https://www.stocktitan.net/news/RF/regi ... 03m70.html) | [M&T Q3 release (PR Newswire)](https://www.prnewswire.com/news-release ... 10052.html) | [Newsquawk consensus and timings](https://www.newsquawk.com/headlines/dai ... tober-2026)
Is anyone trading RF on the credit improvement, or fading regionals into the calls while long-end yields are this high? And which matters more to you today, TFC's NII guide or TRV's catastrophe losses?