M&T BANK CORP
For the period ended Dec 31, 2025. Filed Feb 18, 2026.
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FY2025 · Filed Feb 18, 2026
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Comprehensive income
- Comprehensive income
The following tables display the components of other comprehensive income (loss) and amounts reclassified from accumulated other comprehensive income (loss) to net income:
| (Dollars in millions) | InvestmentSecurities | Cash Flow Hedges | Defined BenefitPlans | Other | TotalAmountBefore Tax | IncomeTax | Net Amount |
|---|---|---|---|---|---|---|---|
| Balance — January 1, 2025 | $(205) | $(135) | $131 | $(10) | $(219) | $55 | $(164) |
| Other comprehensive income before reclassifications: | |||||||
| Unrealized holding gains, net | 414 | — | — | — | 414 | (105) | 309 |
| Unrealized gains, net | — | 110 | — | — | 110 | (28) | 82 |
| Current year benefit plans losses | — | — | (34) | — | (34) | 9 | (25) |
| Other | — | — | — | 3 | 3 | (1) | 2 |
| Total other comprehensive income (loss) before reclassifications | 414 | 110 | (34) | 3 | 493 | (125) | 368 |
| Amounts reclassified from accumulated other comprehensive income that (increase) decrease net income: | |||||||
| Net gains realized in net income | (1) | — | — | — | (1)(a) | — | (1) |
| Net yield adjustment from cash flow hedges currently in effect | — | 115 | — | — | 115(b) | (29) | 86 |
| Amortization of prior service credit and actuarial gains | — | — | (8) | — | (8)(c) | 2 | (6) |
| Settlement gain | — | — | (8) | — | (8)(c) | 2 | (6) |
| Total other comprehensive income (loss) | 413 | 225 | (50) | 3 | 591 | (150) | 441 |
| Balance — December 31, 2025 | $208 | $90 | $81 | $(7) | $372 | $(95) | $277 |
| Balance — January 1, 2024 | $(251) | $(203) | $(155) | $(7) | $(616) | $157 | $(459) |
| Other comprehensive income before reclassifications: | |||||||
| Unrealized holding gains, net | 31 | — | — | — | 31 | (8) | 23 |
| Unrealized losses, net | — | (296) | — | — | (296) | 77 | (219) |
| Current year benefit plans gains | — | — | 305 | — | 305 | (78) | 227 |
| Other | — | — | — | (3) | (3) | 1 | (2) |
| Total other comprehensive income (loss) before reclassifications | 31 | (296) | 305 | (3) | 37 | (8) | 29 |
| Amounts reclassified from accumulated other comprehensive income that (increase) decrease net income: | |||||||
| Net losses realized in net income | 15 | — | — | — | 15(a) | (4) | 11 |
| Net yield adjustment from cash flow hedges currently in effect | — | 364 | — | — | 364(b) | (95) | 269 |
| Amortization of prior service credit and actuarial gains | — | — | (7) | — | (7)(c) | 2 | (5) |
| Settlement gain | — | — | (12) | — | (12)(c) | 3 | (9) |
| Total other comprehensive income (loss) | 46 | 68 | 286 | (3) | 397 | (102) | 295 |
| Balance — December 31, 2024 | $(205) | $(135) | $131 | $(10) | $(219) | $55 | $(164) |
(a)Included in Gain (loss) on bank investment securities in the Consolidated Statement of Income.
(b)Included in Interest income in the Consolidated Statement of Income.
(c)Included in Other costs of operations in the Consolidated Statement of Income.
| (Dollars in millions) | InvestmentSecurities | Cash Flow Hedges | Defined BenefitPlans | Other | TotalAmountBefore Tax | IncomeTax | Net Amount |
|---|---|---|---|---|---|---|---|
| Balance — January 1, 2023 | $(444) | $(337) | $(273) | $(12) | $(1,066) | $276 | $(790) |
| Other comprehensive income before reclassifications: | |||||||
| Unrealized holding gains, net | 193 | — | — | — | 193 | (51) | 142 |
| Unrealized losses, net | — | (116) | — | — | (116) | 30 | (86) |
| Current year benefit plans gains | — | — | 125 | — | 125 | (33) | 92 |
| Other | — | — | — | 5 | 5 | (1) | 4 |
| Total other comprehensive income (loss) before reclassifications | 193 | (116) | 125 | 5 | 207 | (55) | 152 |
| Amounts reclassified from accumulated other comprehensive income that (increase) decrease net income: | |||||||
| Net yield adjustment from cash flow hedges currently in effect | — | 250 | — | — | 250(b) | (66) | 184 |
| Amortization of prior service credit and actuarial gains | — | — | (7) | — | (7)(c) | 2 | (5) |
| Total other comprehensive income (loss) | 193 | 134 | 118 | 5 | 450 | (119) | 331 |
| Balance — December 31, 2023 | $(251) | $(203) | $(155) | $(7) | $(616) | $157 | $(459) |
(a)Included in Gain (loss) on bank investment securities in the Consolidated Statement of Income.
(b)Included in Interest income in the Consolidated Statement of Income.
(c)Included in Other costs of operations in the Consolidated Statement of Income.
Accumulated other comprehensive income (loss), net consisted of the following:
| (Dollars in millions) | InvestmentSecurities | Cash Flow Hedges | DefinedBenefit Plans | Other | Total |
|---|---|---|---|---|---|
| Balance at January 1, 2023 | $(329) | $(249) | $(202) | $(10) | $(790) |
| Net gain during 2023 | 142 | 98 | 87 | 4 | 331 |
| Balance at December 31, 2023 | (187) | (151) | (115) | (6) | (459) |
| Net gain (loss) during 2024 | 34 | 50 | 213 | (2) | 295 |
| Balance at December 31, 2024 | (153) | (101) | 98 | (8) | (164) |
| Net gain (loss) during 2025 | 308 | 168 | (37) | 2 | 441 |
| Balance at December 31, 2025 | $155 | $67 | $61 | $(6) | $277 |
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