M&T BANK CORP
For the period ended Sep 30, 2026. Filed Nov 5, 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.
Sep 30, 2026 · Filed Nov 5, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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10. Comprehensive income
- Comprehensive income
The following table displays the components of other comprehensive income (loss) and amounts reclassified from accumulated other comprehensive income (loss) to net income during the three-month periods ended September 30, 2026 and 2025.
| (Dollars in millions) | Available-for-sale Securities | Held-to-maturity Securities | Cash Flow Hedges | Defined Benefit Plans | Other | TotalAmountBefore Tax | IncomeTax | Net |
|---|---|---|---|---|---|---|---|---|
| Balance — July 1, 2026 | $(125) | $— | $(68) | $78 | $(8) | $(123) | $31 | $(92) |
| Other comprehensive income (loss) before reclassifications: | ||||||||
| Unrealized holding losses, net | (612) | — | — | — | — | (612) | 155 | (457) |
| Unrealized losses, net | — | — | (172) | — | — | (172) | 45 | (127) |
| Total other comprehensive income (loss) before reclassifications | (612) | — | (172) | — | — | (784) | 200 | (584) |
| Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income: | ||||||||
| Net yield adjustment from cash flow hedges currently in effect | — | — | (3) | — | — | (3)(b) | — | (3) |
| Amortization of prior service credit and actuarial gains | — | — | — | (1) | — | (1)(c) | — | (1) |
| Total other comprehensive income (loss) | (612) | — | (175) | (1) | — | (788) | 200 | (588) |
| Transfers of investment securities available for sale to held to maturity (a) | (8) | 8 | — | — | — | — | — | — |
| Balance — September 30, 2026 | $(745) | $8 | $(243) | $77 | $(8) | $(911) | $231 | $(680) |
| Balance — July 1, 2025 | $82 | $— | $85 | $127 | $(5) | $289 | $(74) | $215 |
| Other comprehensive income (loss) before reclassifications: | ||||||||
| Unrealized holding gains, net | 81 | — | — | — | — | 81 | (21) | 60 |
| Unrealized losses, net | — | — | (16) | — | — | (16) | 3 | (13) |
| Other | — | — | — | — | (1) | (1) | — | (1) |
| Total other comprehensive income (loss) before reclassifications | 81 | — | (16) | — | (1) | 64 | (18) | 46 |
| Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income: | ||||||||
| Net yield adjustment from cash flow hedges currently in effect | — | — | 22 | — | — | 22(b) | (4) | 18 |
| Amortization of prior service credit and actuarial gains | — | — | — | (2) | — | (2)(c) | — | (2) |
| Total other comprehensive income (loss) | 81 | — | 6 | (2) | (1) | 84 | (22) | 62 |
| Balance — September 30, 2025 | $163 | $— | $91 | $125 | $(6) | $373 | $(96) | $277 |
(a)As described in note 3, in July 2026, the Company transferred $8.3 billion of residential mortgage-backed securities from the available-for-sale portfolio to the held-to-maturity portfolio with net unrealized gains of $8 million.
(b)Included in Interest income in the Consolidated Statement of Income.
(c)Included in Other costs of operations in the Consolidated Statement of Income.
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- Comprehensive income, continued
The following table displays the components of other comprehensive income (loss) and amounts reclassified from accumulated other comprehensive income (loss) to net income during the nine-month periods ended September 30, 2026 and 2025.
| (Dollars in millions) | Available-for-sale Securities | Held-to-maturity Securities | Cash Flow Hedges | Defined Benefit Plans | Other | TotalAmountBefore Tax | IncomeTax | Net |
|---|---|---|---|---|---|---|---|---|
| Balance — January 1, 2026 | $208 | $— | $90 | $81 | $(7) | $372 | $(95) | $277 |
| Other comprehensive income (loss) before reclassifications: | ||||||||
| Unrealized holding losses, net | (941) | — | — | — | — | (941) | 239 | (702) |
| Unrealized losses, net | — | — | (317) | — | — | (317) | 81 | (236) |
| Other | — | — | — | — | (1) | (1) | — | (1) |
| Total other comprehensive income (loss) before reclassifications | (941) | — | (317) | — | (1) | (1,259) | 320 | (939) |
| Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income: | ||||||||
| Net gains realized in net income | (4) | — | — | — | — | (4)(b) | 1 | (3) |
| Net yield adjustment from cash flow hedges currently in effect | — | — | (16) | — | — | (16)(c) | 4 | (12) |
| Amortization of prior service credit and actuarial gains | — | — | — | (4) | — | (4)(d) | 1 | (3) |
| Total other comprehensive income (loss) | (945) | — | (333) | (4) | (1) | (1,283) | 326 | (957) |
| Transfers of investment securities available for sale to held to maturity (a) | (8) | 8 | — | — | — | — | — | — |
| Balance — September 30, 2026 | $(745) | $8 | $(243) | $77 | $(8) | $(911) | $231 | $(680) |
| Balance — January 1, 2025 | $(205) | $— | $(135) | $131 | $(10) | $(219) | $55 | $(164) |
| Other comprehensive income (loss) before reclassifications: | ||||||||
| Unrealized holding gains, net | 368 | — | — | — | — | 368 | (94) | 274 |
| Unrealized gains, net | — | — | 118 | — | — | 118 | (31) | 87 |
| Other | — | — | — | — | 4 | 4 | (1) | 3 |
| Total other comprehensive income (loss) before reclassifications | 368 | — | 118 | — | 4 | 490 | (126) | 364 |
| Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income: | ||||||||
| Net yield adjustment from cash flow hedges currently in effect | — | — | 108 | — | — | 108(c) | (26) | 82 |
| Amortization of prior service credit and actuarial gains | — | — | — | (6) | — | (6)(d) | 1 | (5) |
| Total other comprehensive income (loss) | 368 | — | 226 | (6) | 4 | 592 | (151) | 441 |
| Balance — September 30, 2025 | $163 | $— | $91 | $125 | $(6) | $373 | $(96) | $277 |
(a)As described in note 3, in July 2026, the Company transferred $8.3 billion of residential mortgage-backed securities from the available-for-sale portfolio to the held-to-maturity portfolio with net unrealized gains of $8 million.
(b)Included in Gain (loss) on bank investment securities in the Consolidated Statement of Income.
(c)Included in Interest income in the Consolidated Statement of Income.
(d)Included in Other costs of operations in the Consolidated Statement of Income.
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- Comprehensive income, continued
Accumulated other comprehensive income (loss), net during the three-month and nine-month periods ended September 30, 2026 and 2025 consisted of the following.
| (Dollars in millions) | Available-for-sale Securities | Held-to-maturity Securities | Cash Flow Hedges | Defined Benefit Plans | Other | Total |
|---|---|---|---|---|---|---|
| Balance — July 1, 2026 | $(93) | $— | $(51) | $59 | $(7) | $(92) |
| Net loss during period | (457) | — | (130) | (1) | — | (588) |
| Transfers of investment securities available for sale to held to maturity | (6) | 6 | — | — | — | — |
| Balance — September 30, 2026 | $(556) | $6 | $(181) | $58 | $(7) | $(680) |
| Balance — July 1, 2025 | $61 | $— | $63 | $95 | $(4) | $215 |
| Net gain (loss) during period | 60 | — | 5 | (2) | (1) | 62 |
| Balance — September 30, 2025 | $121 | $— | $68 | $93 | $(5) | $277 |
| Balance — January 1, 2026 | $155 | $— | $67 | $61 | $(6) | $277 |
| Net loss during period | (705) | — | (248) | (3) | (1) | (957) |
| Transfers of investment securities available for sale to held to maturity | (6) | 6 | — | — | — | — |
| Balance — September 30, 2026 | $(556) | $6 | $(181) | $58 | $(7) | $(680) |
| Balance — January 1, 2025 | $(153) | $— | $(101) | $98 | $(8) | $(164) |
| Net gain (loss) during period | 274 | — | 169 | (5) | 3 | 441 |
| Balance — September 30, 2025 | $121 | $— | $68 | $93 | $(5) | $277 |
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