M&T Bank Corporation (NYSE:MTB) Q4 2023 Earnings Call Transcript

Daryl Bible: Yes. I mean when I look at the levers that we have on the expense side, there is a lot of opportunities. If you look at it, our procurement and sourcing areas are continuing to improve and get better in that area, I think we still have opportunities in our corporate real estate area to get more square feet down over time. We are really working with workforce management and really how to do our operations the most efficiently possible I think our call centers have a lot of opportunity from an automation perspective. One of our themes that we have in 2024 is simplification, really trying to simplify what we are doing today. So, on the transformations that are going on, how we do this, we will have less processes and much more simple way, getting things done in a much more efficient way of getting them done from that perspective.

For me, it always comes down to how we prioritize, we are going to prioritize in the priorities that we have in this company, and I talked about those projects. If we can focus on those and really not have any other of the other investments kind of play out, we can control expenses really well and to continue to generate positive operating leverage as we get revenues to start to grow again.

Chris Spahr: Sorry. And one last ticky-tack question. Bayview, what is the – do you have any estimate on what that would be for this year?

Daryl Bible: Yes. We aren’t 100% sure, but I would say 20 plus or minus would be our best estimate right now.

Chris Spahr: Thank you.

Operator: And that does conclude today’s question-and-answer session. I will now turn the call back over to Brian Klock for closing remarks.

Brian Klock: Thanks Michael and thanks everyone for participating in our call today. If there are any follow-up questions, you can call our Investor Relations department at 716-842-5138. Thank you again and have a good day.

Operator: This does conclude today’s program. Thank you for your participation. You may now disconnect.