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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9. Earnings per common share
- Earnings per common share
The computations of basic earnings per common share follow.
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (Dollars in millions, except per share, shares in thousands) | 2026 | 2025 | 2026 | 2025 |
| Income available to common shareholders: | ||||
| Net income | $818 | $716 | $1,482 | $1,300 |
| Less: Preferred stock dividends | (35) | (35) | (78) | (71) |
| Net income available to common equity | 783 | 681 | 1,404 | 1,229 |
| Less: Income attributable to unvested stock-based compensation awards | (2) | (2) | (3) | (3) |
| Net income available to common shareholders | $781 | $679 | $1,401 | $1,226 |
| Weighted-average shares outstanding: | ||||
| Common shares outstanding and unvested stock-based compensation awards | 146,200 | 159,559 | 147,835 | 162,025 |
| Less: Unvested stock-based compensation awards | (309) | (338) | (286) | (324) |
| Weighted-average shares outstanding | 145,891 | 159,221 | 147,549 | 161,701 |
| Basic earnings per common share | $5.35 | $4.26 | $9.49 | $7.58 |
The computations of diluted earnings per common share follow.
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (Dollars in millions, except per share, shares in thousands) | 2026 | 2025 | 2026 | 2025 |
| Net income available to common equity | $783 | $681 | $1,404 | $1,229 |
| Less: Income attributable to unvested stock-based compensation awards | (2) | (2) | (3) | (3) |
| Net income available to common shareholders | $781 | $679 | $1,401 | $1,226 |
| Adjusted weighted-average shares outstanding: | ||||
| Common shares outstanding and unvested stock-based compensation awards | 146,200 | 159,559 | 147,835 | 162,025 |
| Less: Unvested stock-based compensation awards | (309) | (338) | (286) | (324) |
| Plus: Incremental shares from assumed conversion of stock-based compensation awards | 867 | 784 | 875 | 810 |
| Adjusted weighted-average shares outstanding (a) | 146,758 | 160,005 | 148,424 | 162,511 |
| Diluted earnings per common share | $5.32 | $4.24 | $9.44 | $7.55 |
(a)Stock-based compensation awards to purchase common stock of M&T representing common shares of 0.1 million in each of the three and six month periods ended June 30, 2026, respectively, and common shares of 0.2 million in each of the three and six month periods ended June 30, 2025, were not included in the computations of diluted earnings per common share because the effect on those periods would have been antidilutive.
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