M&T BANK CORP

For the period ended Dec 31, 2024. Filed Feb 19, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 19, 2025

MTB$220.61-1.0%Stored close · as of Nov 10, 2026

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Contents

Reconciliation of Quarterly GAAP to Non-GAAP Measures

Table 49

RECONCILIATION OF QUARTERLY GAAP TO NON-GAAP MEASURES

	2024 Quarters				2023 Quarters
(Dollars in millions, except per share)	Fourth	Third	Second	First	Fourth	Third	Second	First
Income statement data
Net income
Net income	$681	$721	$655	$531	$482	$690	$867	$702
Amortization of core deposit and other intangible assets (a)	10	10	10	12	12	12	12	13
Net operating income	$691	$731	$665	$543	$494	$702	$879	$715
Earnings per common share
Diluted earnings per common share	$3.86	$4.02	$3.73	$3.02	$2.74	$3.98	$5.05	$4.01
Amortization of core deposit and other intangible assets (a)	.06	.06	.06	.07	.07	.07	.07	.08
Diluted net operating earnings per common share	$3.92	$4.08	$3.79	$3.09	$2.81	$4.05	$5.12	$4.09
Other expense
Other expense	$1,363	$1,303	$1,297	$1,396	$1,450	$1,278	$1,293	$1,359
Amortization of core deposit and other intangible assets	(13)	(12)	(13)	(15)	(15)	(15)	(15)	(17)
Noninterest operating expense	$1,350	$1,291	$1,284	$1,381	$1,435	$1,263	$1,278	$1,342
Efficiency ratio
Noninterest operating expense (numerator)	$1,350	$1,291	$1,284	$1,381	$1,435	$1,263	$1,278	$1,342
Taxable-equivalent net interest income	$1,740	$1,739	$1,731	$1,692	$1,735	$1,790	$1,813	$1,832
Other income	657	606	584	580	578	560	803	587
Less: Gain (loss) on bank investment securities	18	(2)	(8)	2	4	—	1	—
Denominator	$2,379	$2,347	$2,323	$2,270	$2,309	$2,350	$2,615	$2,419
Efficiency ratio	56.8%	55.0%	55.3%	60.8%	62.1%	53.7%	48.9%	55.5%
Balance sheet data
Average assets
Average assets	$211,853	$209,581	$211,981	$211,478	$208,752	$205,791	$204,376	$202,599
Goodwill	(8,465)	(8,465)	(8,465)	(8,465)	(8,465)	(8,465)	(8,473)	(8,490)
Core deposit and other intangible assets	(100)	(113)	(126)	(140)	(154)	(170)	(185)	(201)
Deferred taxes	29	28	30	33	39	43	46	49
Average tangible assets	$203,317	$201,031	$203,420	$202,906	$200,172	$197,199	$195,764	$193,957
Average common equity
Average total equity	$28,707	$28,725	$27,745	$27,019	$26,500	$26,020	$25,685	$25,377
Preferred stock	(2,394)	(2,565)	(2,405)	(2,011)	(2,011)	(2,011)	(2,011)	(2,011)
Average common equity	26,313	26,160	25,340	25,008	24,489	24,009	23,674	23,366
Goodwill	(8,465)	(8,465)	(8,465)	(8,465)	(8,465)	(8,465)	(8,473)	(8,490)
Core deposit and other intangible assets	(100)	(113)	(126)	(140)	(154)	(170)	(185)	(201)
Deferred taxes	29	28	30	33	39	43	46	49
Average tangible common equity	$17,777	$17,610	$16,779	$16,436	$15,909	$15,417	$15,062	$14,724
At end of quarter
Total assets
Total assets	$208,105	$211,785	$208,855	$215,137	$208,264	$209,124	$207,672	$202,956
Goodwill	(8,465)	(8,465)	(8,465)	(8,465)	(8,465)	(8,465)	(8,465)	(8,490)
Core deposit and other intangible assets	(94)	(107)	(119)	(132)	(147)	(162)	(177)	(192)
Deferred taxes	28	30	31	34	37	41	44	47
Total tangible assets	$199,574	$203,243	$200,302	$206,574	$199,689	$200,538	$199,074	$194,321
Total common equity
Total equity	$29,027	$28,876	$28,424	$27,169	$26,957	$26,197	$25,801	$25,377
Preferred stock	(2,394)	(2,394)	(2,744)	(2,011)	(2,011)	(2,011)	(2,011)	(2,011)
Common equity	26,633	26,482	25,680	25,158	24,946	24,186	23,790	23,366
Goodwill	(8,465)	(8,465)	(8,465)	(8,465)	(8,465)	(8,465)	(8,465)	(8,490)
Core deposit and other intangible assets	(94)	(107)	(119)	(132)	(147)	(162)	(177)	(192)
Deferred taxes	28	30	31	34	37	41	44	47
Total tangible common equity	$18,102	$17,940	$17,127	$16,595	$16,371	$15,600	$15,192	$14,731

(a)After any related tax effect.

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