The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how M&T Bank (NYSE:MTB) and the rest of the regional banks stocks fared in Q3.
Regional banks, financial institutions operating within specific geographic areas, serve as intermediaries between local depositors and borrowers. They benefit from rising interest rates that improve net interest margins (the difference between loan yields and deposit costs), digital transformation reducing operational expenses, and local economic growth driving loan demand. However, these banks face headwinds from fintech competition, deposit outflows to higher-yielding alternatives, credit deterioration (increasing loan defaults) during economic slowdowns, and regulatory compliance costs. Recent concerns about regional bank stability following high-profile failures and significant commercial real estate exposure present additional challenges.
The 87 regional banks stocks we track reported a slower Q3. As a group, revenues were in line with analysts’ consensus estimates.
In light of this news, share prices of the companies have held steady as they are up 3.5% on average since the latest earnings results.
M&T Bank (NYSE:MTB)
Tracing its roots back to 1856 when it was founded as Manufacturers and Traders Bank in Buffalo, New York, M&T Bank (NYSE:MTB) is a regional bank holding company that provides retail and commercial banking, trust, wealth management, and investment services to consumers and businesses.
M&T Bank reported revenues of $2.53 billion, up 1.2% year on year. This print was in line with analysts’ expectations, but overall, it was a slower quarter for the company with a miss of analysts’ tangible book value per share estimates and a slight miss of analysts’ net interest income estimates.
"M&T's third quarter results were highlighted by strong loan and deposit growth, stable credit and a solid capital position. Fee income in the recent quarter continues to reflect the breadth of M&T's franchise and our ability to meet customers' evolving needs through a wide range of financial capabilities. The continued strength across customer-driven revenue streams demonstrates the value of our diversified business model and the depth of our customer relationships. These relationships are at the heart of our purpose, to make a difference in people's lives. I want to thank our employees for their ongoing commitment to the communities and customers we serve."
The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $220.22.
Read our full report on M&T Bank here, it’s free.
Best Q3: Merchants Bancorp (NASDAQ:MBIN)
With a strategic focus on low-risk, government-backed lending programs, Merchants Bancorp (NASDAQCM:MBIN) is an Indiana-based bank holding company specializing in multi-family mortgage banking, mortgage warehousing, and traditional banking services.
Merchants Bancorp reported revenues of $224.9 million, up 31.5% year on year, outperforming analysts’ expectations by 22.3%. The business had a very strong quarter with a beat of analysts’ EPS estimates and a narrow beat of analysts’ tangible book value per share estimates.
Merchants Bancorp pulled off the biggest analyst estimate beat among its peers. The market seems happy with the results as the stock is up 7.2% since reporting. It currently trades at $52.68.
Is now the time to buy Merchants Bancorp? Access our full analysis of the earnings results here, it’s free.
Weakest Q3: National Bank Holdings (NYSE:NBHC)
Operating under familiar local brands like Community Banks of Colorado, Bank Midwest, and Bank of Jackson Hole, National Bank Holdings (NYSE:NBHC) operates regional banks across Colorado, Kansas, Missouri, Wyoming, Texas, and other western states, offering commercial, business, and consumer banking services.
National Bank Holdings reported revenues of $128.5 million, up 21.8% year on year, falling short of analysts’ expectations by 2.1%. It was a disappointing quarter as it posted a significant miss of analysts’ net interest income estimates and a significant miss of analysts’ EPS estimates.
As expected, the stock is down 2.4% since the results and currently trades at $38.06.
Read our full analysis of National Bank Holdings’s results here.
BOK Financial (NASDAQ:BOKF)
Tracing its roots back to 1910 when Oklahoma was still a young state, BOK Financial (NASDAQ:BOKF) is a regional bank holding company that provides commercial banking, consumer banking, and wealth management services across eight states in the central and southwestern US.
BOK Financial reported revenues of $564.2 million, up 2.4% year on year. This number lagged analysts’ expectations by 1.4%. It was a slower quarter as it also recorded a miss of analysts’ tangible book value per share estimates and a narrow beat of analysts’ EPS estimates.
The stock is up 7.8% since reporting and currently trades at $132.49.
Read our full, actionable report on BOK Financial here, it’s free.
Renasant (NYSE:RNST)
Founded in 1904 during a time when the South was rebuilding its economy, Renasant (NYSE:RNST) is a regional bank holding company that offers banking, wealth management, insurance, and specialized lending services throughout the Southeast.
Renasant reported revenues of $277.9 million, up 1.4% year on year. This print missed analysts’ expectations by 1.6%. Overall, it was a disappointing quarter as it also logged a significant miss of analysts’ net interest income estimates and a significant miss of analysts’ EPS estimates.
The stock is down 2.4% since reporting and currently trades at $40.57.
Read our full, actionable report on Renasant here, it’s free.
Market update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.