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$220.61-1.0%Stored close · as of Nov 10, 2026

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Contents

Reconciliation of Quarterly GAAP to Non-GAAP Measures

Table 2

RECONCILIATION OF QUARTERLY GAAP TO NON-GAAP MEASURES

2026 · 2025 Quarters
(Dollars in millions, except per share)	First Quarter	Fourth	Third	Second	First
Income statement data
Net income
Net income	$664	$759	$792	$716	$584
Amortization of core deposit and other intangible assets (a)	7	8	6	8	10
Net operating income	$671	$767	$798	$724	$594
Earnings per common share
Diluted earnings per common share	$4.13	$4.67	$4.82	$4.24	$3.32
Amortization of core deposit and other intangible assets (a)	.05	.05	.05	.04	.06
Diluted net operating earnings per common share	$4.18	$4.72	$4.87	$4.28	$3.38
Other expense
Other expense	$1,438	$1,379	$1,363	$1,336	$1,415
Amortization of core deposit and other intangible assets	(9)	(10)	(10)	(9)	(13)
Noninterest operating expense	$1,429	$1,369	$1,353	$1,327	$1,402
Efficiency ratio
Noninterest operating expense (numerator)	$1,429	$1,369	$1,353	$1,327	$1,402
Taxable-equivalent net interest income	$1,763	$1,790	$1,773	$1,722	$1,707
Other income	689	696	752	683	611
Less: Gain (loss) on bank investment securities	4	1	1	—	—
Denominator	$2,448	$2,485	$2,524	$2,405	$2,318
Efficiency ratio	58.3%	55.1%	53.6%	55.2%	60.5%
Balance sheet data
Average assets
Average assets	$213,828	$212,891	$211,053	$210,261	$208,321
Goodwill	(8,465)	(8,465)	(8,465)	(8,465)	(8,465)
Core deposit and other intangible assets	(59)	(69)	(79)	(89)	(92)
Deferred taxes	19	22	24	26	27
Average tangible assets	$205,323	$204,379	$202,533	$201,733	$199,791
Average common equity
Average total equity	$28,648	$28,970	$28,583	$28,666	$28,998
Preferred stock	(2,576)	(2,691)	(2,394)	(2,394)	(2,394)
Average common equity	26,072	26,279	26,189	26,272	26,604
Goodwill	(8,465)	(8,465)	(8,465)	(8,465)	(8,465)
Core deposit and other intangible assets	(59)	(69)	(79)	(89)	(92)
Deferred taxes	19	22	24	26	27
Average tangible common equity	$17,567	$17,767	$17,669	$17,744	$18,074
At end of quarter
Total assets
Total assets	$214,736	$213,510	$211,277	$211,584	$210,321
Goodwill	(8,465)	(8,465)	(8,465)	(8,465)	(8,465)
Core deposit and other intangible assets	(55)	(64)	(74)	(84)	(93)
Deferred taxes	18	20	23	25	26
Total tangible assets	$206,234	$205,001	$202,761	$203,060	$201,789
Total common equity
Total equity	$27,972	$29,177	$28,728	$28,525	$28,991
Preferred stock	(2,434)	(2,834)	(2,394)	(2,394)	(2,394)
Common equity	25,538	26,343	26,334	26,131	26,597
Goodwill	(8,465)	(8,465)	(8,465)	(8,465)	(8,465)
Core deposit and other intangible assets	(55)	(64)	(74)	(84)	(93)
Deferred taxes	18	20	23	25	26
Total tangible common equity	$17,036	$17,834	$17,818	$17,607	$18,065

(a)After any related tax effect.

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