M&T BANK CORP

For the period ended Sep 30, 2025. Filed Oct 27, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Oct 27, 2025

MTB$222.73+2.3%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Quarterly Trends

Table 1

QUARTERLY TRENDS

2025 Quarters · 2024 Quarters
	Third	Second	First	Fourth	Third	Second	First
(Dollars in millions, except per share)
Earnings and dividends
Interest income (taxable-equivalent basis)	$2,692	$2,618	$2,572	$2,719	$2,798	$2,802	$2,757
Interest expense	919	896	865	979	1,059	1,071	1,065
Net interest income	1,773	1,722	1,707	1,740	1,739	1,731	1,692
Less: Provision for credit losses	125	125	130	140	120	150	200
Other income	752	683	611	657	606	584	580
Less: Other expense	1,363	1,336	1,415	1,363	1,303	1,297	1,396
Income before income taxes	1,037	944	773	894	922	868	676
Applicable income taxes	233	219	177	201	188	200	133
Taxable-equivalent adjustment	12	9	12	12	13	13	12
Net income	$792	$716	$584	$681	$721	$655	$531
Net income available to common shareholders-diluted	$754	$679	$547	$644	$674	$626	$505
Per common share data:
Basic earnings	4.85	4.26	3.33	3.88	4.04	3.75	3.04
Diluted earnings	4.82	4.24	3.32	3.86	4.02	3.73	3.02
Cash dividends	1.50	1.35	1.35	1.35	1.35	1.35	1.30
Average common shares outstanding:
Basic	155,558	159,221	164,209	165,838	166,671	166,951	166,460
Diluted	156,553	160,005	165,047	166,969	167,567	167,659	167,084
Performance ratios
Annualized return on:
Average assets	1.49%	1.37%	1.14%	1.28%	1.37%	1.24%	1.01%
Average common shareholders’ equity	11.45	10.39	8.36	9.75	10.26	9.95	8.14
Net interest margin on average earning assets (taxable-equivalent basis)	3.68	3.62	3.66	3.58	3.62	3.59	3.52
Nonaccrual loans to total loans	1.10	1.16	1.14	1.25	1.42	1.50	1.71
Net operating (tangible) results (a)
Net operating income	$798	$724	$594	$691	$731	$665	$543
Diluted net operating income per common share	4.87	4.28	3.38	3.92	4.08	3.79	3.09
Annualized return on:
Average tangible assets	1.56%	1.44%	1.21%	1.35%	1.45%	1.31%	1.08%
Average tangible common shareholders’ equity	17.13	15.54	12.53	14.66	15.47	15.27	12.67
Efficiency ratio (b)	53.6	55.2	60.5	56.8	55.0	55.3	60.8
Balance sheet data
Average balances:
Total assets (c)	$211,053	$210,261	$208,321	$211,853	$209,581	$211,981	$211,478
Total tangible assets (c)	202,533	201,733	199,791	203,317	201,031	203,420	202,906
Earning assets	190,920	190,535	189,116	193,106	191,366	193,676	193,135
Investment securities	36,559	35,335	34,480	33,679	31,023	29,695	28,587
Loans	136,527	135,407	134,844	135,723	134,751	134,588	133,796
Deposits	162,706	163,406	161,220	164,639	161,505	163,491	164,065
Borrowings	15,633	14,263	14,154	14,228	15,428	16,452	16,001
Common shareholders’ equity (c)	26,189	26,272	26,604	26,313	26,160	25,340	25,008
Tangible common shareholders’ equity (c)	17,669	17,744	18,074	17,777	17,610	16,779	16,436
At end of quarter:
Total assets (c)	211,277	211,584	210,321	208,105	211,785	208,855	215,137
Total tangible assets (c)	202,761	203,060	201,789	199,574	203,243	200,302	206,574
Earning assets	190,684	191,074	190,463	188,606	192,766	189,787	195,712
Investment securities	36,864	35,568	35,137	34,051	32,327	29,894	28,496
Loans	136,974	136,116	134,574	135,581	135,920	135,002	134,973
Deposits	163,426	164,453	165,409	161,095	164,554	159,910	167,196
Borrowings	14,987	14,451	12,069	13,665	14,188	16,083	16,245
Common shareholders’ equity (c)	26,334	26,131	26,597	26,633	26,482	25,680	25,158
Tangible common shareholders’ equity (c)	17,818	17,607	18,065	18,102	17,940	17,127	16,595
Equity per common share	170.43	166.94	163.62	160.90	159.38	153.57	150.90
Tangible equity per common share	115.31	112.48	111.13	109.36	107.97	102.42	99.54

(a)Excludes amortization and balances related to goodwill and core deposit and other intangible assets and merger-related expenses which, except in the calculation of the efficiency ratio, are net of applicable income tax effects. A reconciliation of net income and net operating income appears in Table 2.

(b)Excludes impact of merger-related expenses and net securities transactions.

(c)The difference between total assets and total tangible assets, and common shareholders’ equity and tangible common shareholders’ equity, represents goodwill, core deposit and other intangible assets, net of applicable deferred tax balances. A reconciliation of such balances appears in Table 2.

82 -

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.