M&T BANK CORP

For the period ended Mar 31, 2025. Filed May 5, 2025.

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.

Mar 31, 2025 · Filed May 5, 2025

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

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Contents

Reconciliation of Quarterlyto Non-GAAP Measures

Table 2

RECONCILIATION OF QUARTERLY GAAP TO NON-GAAP MEASURES

2025 · 2024 Quarters
(Dollars in millions, except per share)	First Quarter	Fourth	Third	Second	First
Income statement data
Net income
Net income	$584	$681	$721	$655	$531
Amortization of core deposit and other intangible assets (a)	10	10	10	10	12
Net operating income	$594	$691	$731	$665	$543
Earnings per common share
Diluted earnings per common share	$3.32	$3.86	$4.02	$3.73	$3.02
Amortization of core deposit and other intangible assets (a)	.06	.06	.06	.06	.07
Diluted net operating earnings per common share	$3.38	$3.92	$4.08	$3.79	$3.09
Other expense
Other expense	$1,415	$1,363	$1,303	$1,297	$1,396
Amortization of core deposit and other intangible assets	(13)	(13)	(12)	(13)	(15)
Noninterest operating expense	$1,402	$1,350	$1,291	$1,284	$1,381
Efficiency ratio
Noninterest operating expense (numerator)	$1,402	$1,350	$1,291	$1,284	$1,381
Taxable-equivalent net interest income	$1,707	$1,740	$1,739	$1,731	$1,692
Other income	611	657	606	584	580
Less: Gain (loss) on bank investment securities	—	18	(2)	(8)	2
Denominator	$2,318	$2,379	$2,347	$2,323	$2,270
Efficiency ratio	60.5%	56.8%	55.0%	55.3%	60.8%
Balance sheet data
Average assets
Average assets	$208,321	$211,853	$209,581	$211,981	$211,478
Goodwill	(8,465)	(8,465)	(8,465)	(8,465)	(8,465)
Core deposit and other intangible assets	(92)	(100)	(113)	(126)	(140)
Deferred taxes	27	29	28	30	33
Average tangible assets	$199,791	$203,317	$201,031	$203,420	$202,906
Average common equity
Average total equity	$28,998	$28,707	$28,725	$27,745	$27,019
Preferred stock	(2,394)	(2,394)	(2,565)	(2,405)	(2,011)
Average common equity	26,604	26,313	26,160	25,340	25,008
Goodwill	(8,465)	(8,465)	(8,465)	(8,465)	(8,465)
Core deposit and other intangible assets	(92)	(100)	(113)	(126)	(140)
Deferred taxes	27	29	28	30	33
Average tangible common equity	$18,074	$17,777	$17,610	$16,779	$16,436
At end of quarter
Total assets
Total assets	$210,321	$208,105	$211,785	$208,855	$215,137
Goodwill	(8,465)	(8,465)	(8,465)	(8,465)	(8,465)
Core deposit and other intangible assets	(93)	(94)	(107)	(119)	(132)
Deferred taxes	26	28	30	31	34
Total tangible assets	$201,789	$199,574	$203,243	$200,302	$206,574
Total common equity
Total equity	$28,991	$29,027	$28,876	$28,424	$27,169
Preferred stock	(2,394)	(2,394)	(2,394)	(2,744)	(2,011)
Common equity	26,597	26,633	26,482	25,680	25,158
Goodwill	(8,465)	(8,465)	(8,465)	(8,465)	(8,465)
Core deposit and other intangible assets	(93)	(94)	(107)	(119)	(132)
Deferred taxes	26	28	30	31	34
Total tangible common equity	$18,065	$18,102	$17,940	$17,127	$16,595

(a)After any related tax effect.

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