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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Consolidated Balance Sheet — and
Consolidated Balance Sheet
| December 31, | ||
|---|---|---|
| (Dollars in millions, except per share) | 2025 | 2024 |
| Assets | ||
| Cash and due from banks | $1,701 | $1,909 |
| Interest-bearing deposits at banks | 17,068 | 18,873 |
| Trading account | 97 | 101 |
| Investment securities: | ||
| Available for sale (cost: $22,994 at December 31, 2025; $19,054 at December 31, 2024) | 23,202 | 18,849 |
| Held to maturity (fair value: $11,715 at December 31, 2025; $12,955 at December 31, 2024) | 12,430 | 14,195 |
| Equity and other securities (cost: $1,016 at December 31, 2025; $1,007 at December 31, 2024) | 1,017 | 1,007 |
| Total investment securities | 36,649 | 34,051 |
| Loans (a) | 138,702 | 135,581 |
| Allowance for loan losses | (2,116) | (2,184) |
| Net loans | 136,586 | 133,397 |
| Premises and equipment | 1,629 | 1,705 |
| Goodwill | 8,465 | 8,465 |
| Core deposit and other intangible assets | 64 | 94 |
| Accrued interest and other assets | 11,251 | 9,510 |
| Total assets | $213,510 | $208,105 |
| Liabilities | ||
| Noninterest-bearing deposits | $46,509 | $46,020 |
| Savings and interest-checking deposits | 107,173 | 100,599 |
| Time deposits | 13,227 | 14,476 |
| Total deposits | 166,909 | 161,095 |
| Short-term borrowings | 2,149 | 1,060 |
| Long-term borrowings (a) | 10,911 | 12,605 |
| Accrued interest and other liabilities | 4,364 | 4,318 |
| Total liabilities | 184,333 | 179,078 |
| Shareholders' equity | ||
| Preferred stock | 2,834 | 2,394 |
| Common stock, $0.50 par, 250,000,000 shares authorized, 179,436,779 shares issued at December 31, 2025 and December 31, 2024 | 90 | 90 |
| Additional paid-in capital | 10,011 | 9,999 |
| Retained earnings | 20,882 | 19,079 |
| Accumulated other comprehensive income (loss), net | 277 | (164) |
| Treasury stock — common, at cost — 27,604,513 shares at December 31, 2025; 13,922,820 shares at December 31, 2024 | (4,917) | (2,371) |
| Total shareholders’ equity | 29,177 | 29,027 |
| Total liabilities and shareholders’ equity | $213,510 | $208,105 |
(a)Loans of $2.1 billion and $1.5 billion at December 31, 2025 and December 31, 2024, respectively, were held in special purpose trusts to settle the respective obligations of asset-backed notes issued by those trusts. The outstanding balances of those asset-backed notes issued to third party investors were included in Long-term borrowings and were $1.7 billion at December 31, 2025 and $1.2 billion at December 31, 2024.
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