M&T BANK CORP

Listed Company

MTB-PKCIK 0000036270NYSELarge AcceleratedState Commercial BanksNew YorkFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$2.85B

Total Assets

$213.51B

Equity

$29.18B

Shares Out

149.00M

Op. Cash Flow

$3.00B

+ 13F Filer

Business

M&T BANK CORP is a bank holding company registered as a financial holding company and bank holding company that controls commercial banking and trust subsidiaries and provides diversified banking and financial services. It offers retail and commercial banking, deposit and lending products, trust and wealth management, investment services, commercial mortgage lending, equipment leasing and institutional brokerage. Its principal business segments include its principal bank subsidiary M&T Bank, Wilmington Trust and other operating subsidiaries such as M&T Securities, real estate lending and equipment finance affiliates. The company distributes services through a domestic branch and ATM network across the Northeast and Mid‑Atlantic states and the District of Columbia, with limited international trust- and transaction-related activities in Europe and lending activity that includes Ontario, Canada.

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans	8,238	8,477	8,021	5,237	3,749
Investment securities	1,429	1,094	839	—	—
Deposits at banks	816	1,452	1,360	509	48
Other	3	3	4	2	1
Total interest income	10,486	11,026	10,224	6,247	3,939
Savings and interest-checking deposits	2,271	2,514	1,746	271	33
Time deposits	475	781	671	24	19
Short-term borrowings	124	242	292	19	7,000
Long-term borrowings	668	637	400	111	62
Total interest expense	3,538	4,174	3,109	425	—
Net interest income	6,948	6,852	7,115	5,822	3,825
Provision for credit losses	505	610	645	—	—
Net interest income after provision for credit losses	6,443	6,242	6,470	5,305	3,900
Mortgage banking revenues	550	436	409	357	—
Service charges on deposit accounts	551	514	475	447	—
Trust income	724	675	680	741	—
Brokerage services income	131	121	102	88	63
Trading account and other non-hedging derivative gains	58	39	49	27	24
Gain (loss) on bank investment securities	2	10	4	−6	−21
Other revenues from operations	726	632	809	703	483
Noninterest income	2,742	2,427	2,528	2,357	2,167
Salaries and employee benefits	3,342	3,162	2,997	2,787	2,046
Equipment and net occupancy	525	512	520	474	327
Outside data processing and software	558	492	437	376	292
Professional and other services	356	344	413	509	—
FDIC assessments	50	146	315	90	70
Advertising and marketing	102	104	108	90	64
Amortization of core deposit and other intangible assets	42	53	62	56	10
Other costs of operations	518	546	527	668	424
Total other expense	5,493	5,359	5,379	5,050	3,612
Income (loss) before taxes	3,692	3,310	3,619	2,612	2,455
Income taxes	841	722	878	620	596
Net income	2,851	2,588	2,741	1,992	1,859
Net income available to common stockholders, basic	2,699	2,449	2,636	1,891	1,777
Net income available to common stockholders, diluted	2,699	2,449	2,636	1,891	1,777
Earnings per share, basic (in USD per share)	17.1	14.71	15.85	11.59	13.81
Earnings per share, diluted (in USD per share)	17	14.64	15.79	11.53	13.8
Basic weighted-average shares outstanding (in shares)	158	166	166	—	—
Diluted weighted-average shares outstanding (in shares)	159	167	167	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	1,701	1,909	1,731	1,517	1,338
Interest-bearing deposits at banks	17,068	18,873	28,069	24,959	41,872
Trading account	97	101	106	118	50
Available for sale (cost: $22,994 at December 31, 2025; $19,054 at December 31, 2024)	23,202	18,849	10,440	10,749	3,956
Held to maturity (fair value: $11,715 at December 31, 2025; $12,955 at December 31, 2024)	12,430	14,195	15,330	13,530	2,735
Equity and other securities (cost: $1,016 at December 31, 2025; $1,007 at December 31, 2024)	1,017	1,007	1,127	932	465
Total investment securities	36,649	34,051	26,897	25,211	7,156
Loans (a)	138,702	135,581	134,068	—	—
Allowance for loan losses	−2,116	−2,184	−2,129	−1,925	−1,469
Net loans	136,586	133,397	131,939	—	—
Premises and equipment	1,629	1,705	1,739	1,654	1,145
Goodwill	8,465	8,465	8,465	8,490	4,593
Core deposit and other intangible assets	64	94	147	209	4
Accrued interest and other assets	11,251	9,510	9,171	8,930	7,507
Total assets	213,510	208,105	208,264	200,730	155,107
Noninterest-bearing deposits	46,509	46,020	49,294	65,502	60,131
Savings and interest-checking deposits	107,173	100,599	93,221	87,911	68,604
Time deposits	13,227	14,476	20,759	10,102	2,808
Total deposits	166,909	161,095	163,274	163,515	131,543
Short-term borrowings	2,149	1,060	5,316	3,555	47
Long-term borrowings (a)	10,911	12,605	8,201	3,965	3,485
Accrued interest and other liabilities	4,364	4,318	4,516	4,377	2,128
Total liabilities	184,333	179,078	181,307	175,412	137,204
Preferred stock	2,834	2,394	2,011	2,011	1,750
Common stock, $0.50 par, 250,000,000 shares authorized, 179,436,779 shares issued at December 31, 2025 and December 31, 2024	90	90	90	90	80
Additional paid-in capital	10,011	9,999	10,020	10,002	6,635
Retained earnings	20,882	19,079	17,524	15,754	14,646
Accumulated other comprehensive income (loss), net	277	−164	−459	−790	−127
Treasury stock common, at cost 27,604,513 shares at December 31, 2025; 13,922,820 shares at December 31, 2024	−4,917	−2,371	−2,230	−1,750	−5,082
Total shareholders equity	29,177	29,027	26,957	25,318	17,903
Total liabilities and shareholders equity	213,510	208,105	208,264	200,730	155,107

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization of premises and equipment	323	316	304	282	—
Amortization of capitalized servicing rights	133	139	131	97	90
Provision for deferred income taxes	−18	−27	−97	−30	87
Asset write-downs	18	40	4	8	8
Net gain on sales of assets	−87	−30	−249	−153	−10
Net change in accrued interest receivable, payable	−48	−176	261	−123	66
Net change in other accrued income and expense	14	282	561	−70	53
Net change in loans originated for sale	−372	−128	−192	771	−164
Net change in trading account and other non-hedging derivative assets and liabilities	−358	−57	−266	1,227	567
Net cash from operating activities	3,003	3,610	3,905	4,574	2,715
Investment securities available for sale	48	167	0	0	—
Equity and other securities	578	610	1,014	242	18
Loans	908	601	192	—	—
Investment securities available for sale	4,456	6,072	743	795	1,434
Investment securities held to maturity	1,766	1,158	1,170	1,516	615
Investment securities available for sale	−8,439	−14,476	−346	−7,222	−678
Investment securities held to maturity	0	0	−2,948	−1,890	−1,602
Equity and other securities	−588	−467	−1,205	−456	−30
Loans	−683	0	0	—	—
Net change in loans	−3,688	−2,631	−2,962	−3,639	5,677
Net change in interest-bearing deposits at banks	—	0	0	26,107	−18,208
Capital expenditures, net	−143	−216	−256	−214	−149
Net change in loan servicing advances	−1,050	−26	274	1,579	−197
Other, net	19	−538	−440	−620	−511
Net cash from investing activities	−6,816	−9,746	−4,764	16,592	−13,631
Net change in deposits	5,814	−2,182	−248	−20,994	11,738
Net change in short-term borrowings	1,089	−4,256	1,761	2,613	−13
Proceeds from long-term borrowings	3,533	5,497	5,035	999	10
Payments on long-term borrowings	−5,380	−1,009	−824	−907	−853
Purchases of treasury stock	−2,631	−396	−594	−1,800	—
Dividends paid common	−899	−895	−868	−784	−580
Dividends paid preferred	−146	−138	−100	−97	−68
Redemption of Series E preferred stock	0	350	0	0	—
Other, net	−20	114	18	−14	−28
Net cash from financing activities	1,800	−2,882	4,180	−20,984	10,701
Net change in cash and cash equivalents	−2,013	−9,018	3,321	182	−215
Interest received during the period	10,654	11,077	10,092	6,135	3,977
Interest paid during the period	3,524	4,319	2,691	429	139
Income taxes paid during the period	529	236	452	488	314
Real estate acquired in settlement of loans	15	33	23	31	9
Additions to right-of-use assets under operating leases	106	101	134	138	58

Filings

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Holdings (13F)

Portfolio as of 2026-01-14 · 8,554 positions

Reported AUM

$22.64B

Holdings

8.6K

Top sector

$22.64B

Top sectors

Sector	Value	% of portfolio
Uncategorized	$22.64B	100.0%

Top holdings

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ISHARES TR	—	3.99M	$277.19M	1.2%
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ISHARES TR	—	1.32M	$270.93M	1.2%
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ISHARES TR	—	503.3K	$228.35M	1.0%
ISHARES INC	—	3.99M	$221.69M	1.0%
ISHARES TR	—	479.6K	$217.58M	1.0%