M&T BANK CORP

For the period ended Mar 31, 2026. Filed May 5, 2026.

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.

Mar 31, 2026 · Filed May 5, 2026

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

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Contents

Quarterly Trends

Table 1

QUARTERLY TRENDS

2026 · 2025 Quarters
	First Quarter	Fourth	Third	Second	First
(Dollars in millions, except per share)
Earnings and dividends
Interest income (taxable-equivalent basis)	$2,547	$2,648	$2,692	$2,618	$2,572
Interest expense	784	858	919	896	865
Net interest income	1,763	1,790	1,773	1,722	1,707
Less: Provision for credit losses	140	125	125	125	130
Other income	689	696	752	683	611
Less: Other expense	1,438	1,379	1,363	1,336	1,415
Income before income taxes	874	982	1,037	944	773
Applicable income taxes	199	212	233	219	177
Taxable-equivalent adjustment	11	11	12	9	12
Net income	$664	$759	$792	$716	$584
Net income available to common shareholders — diluted	$620	$718	$754	$679	$547
Per common share data:
Basic earnings	4.16	4.71	4.85	4.26	3.33
Diluted earnings	4.13	4.67	4.82	4.24	3.32
Cash dividends	1.50	1.50	1.50	1.35	1.35
Average common shares outstanding:
Basic	149,225	152,666	155,558	159,221	164,209
Diluted	150,109	153,712	156,553	160,005	165,047
Performance ratios
Annualized return on:
Average assets	1.26%	1.41%	1.49%	1.37%	1.14%
Average common shareholders’ equity	9.67	10.87	11.45	10.39	8.36
Net interest margin on average earning assets (taxable-equivalent basis)	3.71	3.69	3.68	3.62	3.66
Nonaccrual loans to total loans	.89	.90	1.10	1.16	1.14
Net operating (tangible) results (a)
Net operating income	$671	$767	$798	$724	$594
Diluted net operating income per common share	4.18	4.72	4.87	4.28	3.38
Annualized return on:
Average tangible assets	1.33%	1.49%	1.56%	1.44%	1.21%
Average tangible common shareholders’ equity	14.51	16.24	17.13	15.54	12.53
Efficiency ratio (b)	58.3	55.1	53.6	55.2	60.5
Balance sheet data
Average balances:
Total assets (c)	$213,828	$212,891	$211,053	$210,261	$208,321
Total tangible assets (c)	205,323	204,379	202,533	201,733	199,791
Earning assets	192,594	192,366	190,920	190,535	189,116
Investment securities	37,845	36,705	36,559	35,335	34,480
Loans	138,423	137,600	136,527	135,407	134,844
Deposits	164,268	165,057	162,706	163,406	161,220
Borrowings	16,759	14,619	15,633	14,263	14,154
Common shareholders’ equity (c)	26,072	26,279	26,189	26,272	26,604
Tangible common shareholders’ equity (c)	17,567	17,767	17,669	17,744	18,074
At end of quarter:
Total assets (c)	214,736	213,510	211,277	211,584	210,321
Total tangible assets (c)	206,234	205,001	202,761	203,060	201,789
Earning assets	193,072	192,516	190,684	191,074	190,463
Investment securities	38,621	36,649	36,864	35,568	35,137
Loans	139,914	138,702	136,974	136,116	134,574
Deposits	163,741	166,909	163,426	164,453	165,409
Borrowings	19,026	13,060	14,987	14,451	12,069
Common shareholders’ equity (c)	25,538	26,343	26,334	26,131	26,597
Tangible common shareholders’ equity (c)	17,036	17,834	17,818	17,607	18,065
Equity per common share	173.82	173.49	170.43	166.94	163.62
Tangible equity per common share	115.96	117.45	115.31	112.48	111.13

(a)Excludes amortization and balances related to goodwill and core deposit and other intangible assets and merger-related expenses (when incurred) 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 (when incurred) 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.

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