M&T BANK CORP
For the period ended Jun 30, 2026. Filed Aug 4, 2026.
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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.
Jun 30, 2026 · Filed Aug 4, 2026
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8. Pension plans and other postretirement benefits
- Pension plans and other postretirement benefits
The Company provides defined pension and other postretirement benefits (including health care and life insurance benefits) to eligible retired employees. Net periodic benefit for defined benefit plans consisted of the following.
| Pension Benefits · Other Postretirement Benefits | ||||
|---|---|---|---|---|
| (Dollars in millions) | Three Months Ended June 30, | |||
| Net periodic pension (benefit) cost | 2026 | 2025 | 2026 | 2025 |
| Service cost | $2 | $2 | $1 | $1 |
| Interest cost on benefit obligation | 23 | 27 | — | — |
| Expected return on plan assets | (42) | (47) | — | — |
| Amortization of prior service credit and actuarial gains | (1) | — | (1) | (2) |
| Net periodic benefit | $(18) | $(18) | $— | $(1) |
| Pension Benefits · Other Postretirement Benefits | ||||
|---|---|---|---|---|
| (Dollars in millions) | Six Months Ended June 30, | |||
| Net periodic pension (benefit) cost | 2026 | 2025 | 2026 | 2025 |
| Service cost | $4 | $4 | $1 | $1 |
| Interest cost on benefit obligation | 46 | 54 | 1 | 1 |
| Expected return on plan assets | (85) | (93) | — | — |
| Amortization of prior service credit and actuarial gains | (1) | (1) | (2) | (3) |
| Net periodic benefit | $(36) | $(36) | $— | $(1) |
Service cost is reflected in Salaries and employee benefits and the other components of net periodic benefit are reflected in Other costs of operations in the Consolidated Statement of Income. Expenses incurred in connection with the Company's defined contribution pension and retirement savings plans totaled $43 million and $40 million for the three months ended June 30, 2026 and 2025, respectively, and $93 million and $90 million for the six months ended June 30, 2026 and 2025, respectively.
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