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
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Other Expense
The components of other expense are presented in the accompanying table.
OTHER EXPENSE
| Three Months Ended · Change · Nine Months Ended · Change | ||||||||
|---|---|---|---|---|---|---|---|---|
| (Dollars in millions) | September 30,2026 | June 30,2026 | Amount | % | September 30,2026 | September 30,2025 | Amount | % |
| Salaries and employee benefits | $832 | $826 | $6 | 1% | $2,572 | $2,533 | $39 | 2% |
| Outside data processing and software | 173 | 154 | 19 | 12 | 471 | 412 | 59 | 14 |
| Equipment and net occupancy | 131 | 129 | 2 | — | 393 | 391 | 2 | — |
| Professional and other services | 97 | 89 | 8 | 10 | 279 | 251 | 28 | 12 |
| FDIC assessments | 19 | 18 | 1 | 15 | 60 | 58 | 2 | 4 |
| Advertising and marketing | 29 | 27 | 2 | 7 | 77 | 70 | 7 | 9 |
| Amortization of core deposit and other intangible assets | 7 | 7 | — | — | 23 | 32 | (9) | -27 |
| Other costs of operations | 105 | 99 | 6 | 6 | 305 | 367 | (62) | -17 |
| Total other expense | $1,393 | $1,349 | $44 | 3% | $4,180 | $4,114 | $66 | 2% |
| Average full-time equivalent employees | 21,579 | 21,686 | (107) | —% | 21,735 | 22,396 | (661) | -3% |
| Full-time equivalent employees at period end | 21,562 | 21,662 | (100) | — | 21,562 | 22,383 | (821) | -4 |
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Salaries and employee benefits
Salaries and employee benefits expense increased $6 million in the recent quarter as compared with the second quarter of 2026 reflectingan additional working day in the recent quarter, partially offset by lower payroll-related taxes.
Salaries and employee benefits expense increased $39 million in the nine months ended September 30, 2026 as compared with the year-earlier period reflecting higher salaries expense from annual merit and other increases, commissions and incentive compensation. Employee benefits expenses reflected a rise in medical benefits expense and payroll-related taxes, partially offset by lower severance expense. Lower staffing levels partially offset increases in salaries and employee benefits expense.
Nonpersonnel expenses
Nonpersonnel expenses of $561 million in the recent quarter increased from $523 million in the second quarter of 2026 reflecting higher outside data processing and software expense driven byhigher software maintenance and enhancements to the Company's technology infrastructure and an increase inprofessional and other services expense related to such enhancements and other enterprise initiatives.
Nonpersonnel expenses aggregated $1.61 billion and $1.58 billion in the nine months ended September 30, 2026 and 2025, respectively, reflecting a rise in outside data processing and software costs of $59 million associated with enhancements to the Company's technology infrastructure, and higher professional and other services expense of $28 million related to such enhancements and higher legal and review costs. Partially offsetting those increases was lower other costs of operations of $62 million driven by amortization associated with residential mortgage loan servicing right assets of $75 million in the first nine months of 2025, partially offset by higher costs associated with the Company's supplemental executive retirement savings plan in the first nine months of 2026 reflecting market performance.
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