M&T BANK CORP

For the period ended Sep 30, 2026. Filed Nov 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.

Sep 30, 2026 · Filed Nov 5, 2026

MTB$222.73+2.3%Stored close · as of Nov 9, 2026

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Contents

Quarterly Trends

Table 1

QUARTERLY TRENDS

2026 Quarters · 2025 Quarters
	Third	Second	First	Fourth	Third	Second	First
(Dollars in millions, except per share)
Earnings and dividends
Interest income (taxable-equivalent basis)	$2,679	$2,632	$2,547	$2,648	$2,692	$2,618	$2,572
Interest expense	874	828	784	858	919	896	865
Net interest income	1,805	1,804	1,763	1,790	1,773	1,722	1,707
Less: Provision for credit losses	135	120	140	125	125	125	130
Other income	743	740	689	696	752	683	611
Less: Other expense	1,393	1,349	1,438	1,379	1,363	1,336	1,415
Income before income taxes	1,020	1,075	874	982	1,037	944	773
Applicable income taxes	233	245	199	212	233	219	177
Taxable-equivalent adjustment	12	12	11	11	12	9	12
Net income	$775	$818	$664	$759	$792	$716	$584
Net income available to common shareholders — diluted	$732	$781	$620	$718	$754	$679	$547
Per common share data:
Basic earnings	5.08	5.35	4.16	4.71	4.85	4.26	3.33
Diluted earnings	5.04	5.32	4.13	4.67	4.82	4.24	3.32
Cash dividends	1.50	1.50	1.50	1.50	1.50	1.35	1.35
Average common shares outstanding:
Basic	144,184	145,891	149,225	152,666	155,558	159,221	164,209
Diluted	145,174	146,758	150,109	153,712	156,553	160,005	165,047
Performance ratios
Annualized return on:
Average assets	1.40%	1.51%	1.26%	1.41%	1.49%	1.37%	1.14%
Average common shareholders’ equity	11.44	12.30	9.67	10.87	11.45	10.39	8.36
Net interest margin on average earning assets (taxable-equivalent basis)	3.65	3.70	3.70	3.70	3.69	3.62	3.65
Nonaccrual loans to total loans	.90	.85	.89	.91	1.11	1.16	1.15
Net operating (tangible) results (a)
Net operating income	$780	$823	$671	$767	$798	$724	$594
Diluted net operating income per common share	5.08	5.35	4.18	4.72	4.87	4.28	3.38
Annualized return on:
Average tangible assets	1.47%	1.59%	1.33%	1.49%	1.56%	1.44%	1.21%
Average tangible common shareholders’ equity	17.29	18.57	14.51	16.24	17.13	15.54	12.53
Efficiency ratio (b)	54.4	52.8	58.3	55.1	53.6	55.2	60.5
Balance sheet data
Average balances:
Total assets (c)	$218,860	$216,532	$213,828	$212,891	$211,053	$210,261	$208,321
Total tangible assets (c)	210,367	208,033	205,323	204,379	202,533	201,733	199,791
Earning assets	196,739	195,216	192,594	192,366	190,920	190,535	189,116
Investment securities	38,552	38,728	37,845	36,705	36,559	35,335	34,480
Loans	143,296	140,650	137,421	136,542	135,890	134,311	134,339
Deposits	166,777	163,524	164,176	164,940	162,576	163,258	161,080
Borrowings	19,225	20,794	16,759	14,619	15,633	14,263	14,154
Common shareholders’ equity (c)	25,441	25,505	26,072	26,279	26,189	26,272	26,604
Tangible common shareholders’ equity (c)	16,948	17,006	17,567	17,767	17,669	17,744	18,074
At end of quarter:
Total assets (c)	220,510	219,261	214,736	213,510	211,277	211,584	210,321
Total tangible assets (c)	212,020	210,765	206,234	205,001	202,761	203,060	201,789
Earning assets	197,688	197,066	193,072	192,516	190,684	191,074	190,463
Investment securities	37,894	38,374	38,621	36,649	36,864	35,568	35,137
Loans	144,756	142,530	139,053	137,635	136,345	135,491	133,434
Deposits	167,510	168,885	163,741	166,909	163,426	164,453	165,409
Borrowings	20,021	18,182	19,026	13,060	14,987	14,451	12,069
Common shareholders’ equity (c)	25,142	25,512	25,538	26,343	26,334	26,131	26,597
Tangible common shareholders’ equity (c)	16,652	17,016	17,036	17,834	17,818	17,607	18,065
Equity per common share	174.95	176.03	173.82	173.49	170.43	166.94	163.62
Tangible equity per common share	115.88	117.41	115.96	117.45	115.31	112.48	111.13

(a)Excludes amortization and balances related to goodwill and core deposit and other intangible assets and merger-related expenses (when incurred) which, except in the calculation of the efficiency ratio, are net of applicable income tax effects. A reconciliation of net income and net operating income appears in Table 2.

(b)Excludes impact of merger-related expenses (when incurred) and net securities transactions.

(c)The difference between total assets and total tangible assets, and common shareholders’ equity and tangible common shareholders’ equity, represents goodwill, core deposit and other intangible assets, net of applicable deferred tax balances. A reconciliation of such balances appears in Table 2.

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