M&T BANK CORP
For the period ended Mar 31, 2025. Filed May 5, 2025.
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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.
Mar 31, 2025 · Filed May 5, 2025
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8. Earnings per common share
- Earnings per common share
The computations of basic earnings per common share follow:
| Three Months Ended March 31, | ||
|---|---|---|
| (Dollars in millions, except per share, shares in thousands) | 2025 | 2024 |
| Income available to common shareholders: | ||
| Net income | $584 | $531 |
| Less: Preferred stock dividends | (36) | (25) |
| Net income available to common equity | 548 | 506 |
| Less: Income attributable to unvested stock-based compensation awards | (1) | (1) |
| Net income available to common shareholders | $547 | $505 |
| Weighted-average shares outstanding: | ||
| Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards | 164,520 | 166,738 |
| Less: Unvested stock-based compensation awards | (311) | (278) |
| Weighted-average shares outstanding | 164,209 | 166,460 |
| Basic earnings per common share | $3.33 | $3.04 |
The computations of diluted earnings per common share follow:
| Three Months Ended March 31, | ||
|---|---|---|
| (Dollars in millions, except per share, shares in thousands) | 2025 | 2024 |
| Net income available to common equity | $548 | $506 |
| Less: Income attributable to unvested stock-based compensation awards | (1) | (1) |
| Net income available to common shareholders | $547 | $505 |
| Adjusted weighted-average shares outstanding: | ||
| Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards | 164,520 | 166,738 |
| Less: Unvested stock-based compensation awards | (311) | (278) |
| Plus: Incremental shares from assumed conversion of stock-based compensation awards | 838 | 624 |
| Adjusted weighted-average shares outstanding | 165,047 | 167,084 |
| Diluted earnings per common share | $3.32 | $3.02 |
Stock-based compensation awards to purchase common stock of M&T representing common shares of 145,460 and 1,328,190 during the three-month period ended March 31, 2025 and 2024, respectively, 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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