M&T BANK CORPMTB
M&T BANK CORP Segments Disclosure
Segment information
Reportable segments have been determined based upon the Company’s organizational structure which is primarily arranged around the delivery of products and services to similar customer types. The Company's internal profitability reporting system produces financial information, inclusive of net interest income and income before taxes, for each segment. Such information is reviewed by the Company's Chief Executive Officer, who has been identified as the chief operating decision maker, in evaluating operating decisions, business performance and the allocation of resources. The Company's reportable segments are Commercial Bank, Retail Bank and Institutional Services and Wealth Management.
The financial information of the Company’s segments was compiled utilizing the accounting policies described in note 1 with certain exceptions. The more significant of these exceptions are described herein. The Company allocates interest income or interest expense using a methodology that charges users of funds (assets) interest expense and credits providers of funds (liabilities) with income based on the maturity, prepayment and/or repricing characteristics of the assets and liabilities. A provision for credit losses is allocated to segments in an amount based largely on actual net charge-offs incurred by the segment during the period plus or minus an amount necessary to adjust the segment’s allowance for loan losses due to changes in loan balances. In contrast, the level of the consolidated provision for credit losses is determined using the methodologies described in notes 1 and 4. The net effects of these allocations are recorded in the "All Other" category. Fixed and variable expenses incurred by certain centralized support areas are indirectly allocated to segments based on estimated usage (for example, volume measurements) and other criteria. Centrally-allocated costs primarily relate to enterprise-wide support functions including certain technology, operations, risk management, finance and human resources expenses. Certain types of administrative expenses and bankwide expense accruals (including amortization of core deposit and other intangible assets associated with acquisitions of financial institutions) are generally not allocated to segments. Income taxes are allocated to segments based on the Company’s marginal statutory tax rate adjusted for any tax-exempt income or non-deductible expenses. Equity is allocated to the segments based on capital
requirements and in proportion to an assessment of the inherent risks associated with the business of the segment. The management accounting policies and processes utilized in compiling segment financial information are highly subjective and, unlike financial accounting, are not based on authoritative guidance similar to GAAP. As a result, reported segment results are not necessarily comparable with similar information reported by other financial institutions. Furthermore, changes in management structure or allocation methodologies and procedures may result in changes in reported segment financial data.
Information about the Company’s segments is presented in the accompanying table.
| Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial Bank | Retail Bank | Institutional Services and Wealth Management | |||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in millions) | 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | ||||||||||||||||||||||||||||||||||||||||||||
| Net interest income (a) | $ | 2,152 | $ | 2,212 | $ | 2,409 | $ | 3,947 | $ | 4,288 | $ | 4,352 | $ | 655 | $ | 748 | $ | 700 | |||||||||||||||||||||||||||||||||||
| Noninterest income | 795 | 672 | 658 | 921 | 810 | 762 | 907 | 809 | 1,005 | ||||||||||||||||||||||||||||||||||||||||||||
| Total revenue | 2,947 | 2,884 | 3,067 | 4,868 | 5,098 | 5,114 | 1,562 | 1,557 | 1,705 | ||||||||||||||||||||||||||||||||||||||||||||
| Provision for credit losses | 273 | 266 | 297 | 307 | 288 | 173 | 5 | 6 | — | ||||||||||||||||||||||||||||||||||||||||||||
| Salaries and employee benefits | 617 | 610 | 577 | 803 | 778 | 779 | 436 | 413 | 405 | ||||||||||||||||||||||||||||||||||||||||||||
| Depreciation and amortization | 42 | 39 | 39 | 241 | 252 | 249 | 8 | 9 | 8 | ||||||||||||||||||||||||||||||||||||||||||||
Other direct expenses | 282 | 285 | 275 | 425 | 421 | 465 | 129 | 102 | 156 | ||||||||||||||||||||||||||||||||||||||||||||
| Indirect expense (b) | 505 | 490 | 455 | 1,161 | 1,048 | 964 | 310 | 307 | 298 | ||||||||||||||||||||||||||||||||||||||||||||
| Income (loss) before taxes | 1,228 | 1,194 | 1,424 | 1,931 | 2,311 | 2,484 | 674 | 720 | 838 | ||||||||||||||||||||||||||||||||||||||||||||
| Income tax expense (benefit) | 324 | 323 | 385 | 489 | 595 | 646 | 172 | 185 | 218 | ||||||||||||||||||||||||||||||||||||||||||||
| Net income (loss) | $ | 904 | $ | 871 | $ | 1,039 | $ | 1,442 | $ | 1,716 | $ | 1,838 | $ | 502 | $ | 535 | $ | 620 | |||||||||||||||||||||||||||||||||||
| Average total assets | $ | 78,574 | $ | 80,864 | $ | 80,243 | $ | 56,708 | $ | 53,043 | $ | 51,213 | $ | 4,309 | $ | 3,800 | $ | 3,675 | |||||||||||||||||||||||||||||||||||
| All Other | Total (c) | ||||||||||||||||||||||||||||||||||
| (Dollars in millions) | 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | |||||||||||||||||||||||||||||
| Net interest income (a) | $ | 194 | $ | (396) | $ | (346) | $ | 6,948 | $ | 6,852 | $ | 7,115 | |||||||||||||||||||||||
| Noninterest income | 119 | 136 | 103 | 2,742 | 2,427 | 2,528 | |||||||||||||||||||||||||||||
| Total revenue | 313 | (260) | (243) | 9,690 | 9,279 | 9,643 | |||||||||||||||||||||||||||||
| Provision for credit losses | (80) | 50 | 175 | 505 | 610 | 645 | |||||||||||||||||||||||||||||
| Salaries and employee benefits | 1,486 | 1,361 | 1,236 | 3,342 | 3,162 | 2,997 | |||||||||||||||||||||||||||||
| Depreciation and amortization | 207 | 208 | 201 | 498 | 508 | 497 | |||||||||||||||||||||||||||||
Other direct expenses | 817 | 881 | 989 | 1,653 | 1,689 | 1,885 | |||||||||||||||||||||||||||||
| Indirect expense (b) | (1,976) | (1,845) | (1,717) | — | — | — | |||||||||||||||||||||||||||||
| Income (loss) before taxes | (141) | (915) | (1,127) | 3,692 | 3,310 | 3,619 | |||||||||||||||||||||||||||||
| Income tax expense (benefit) | (144) | (381) | (371) | 841 | 722 | 878 | |||||||||||||||||||||||||||||
| Net income (loss) | $ | 3 | $ | (534) | $ | (756) | $ | 2,851 | $ | 2,588 | $ | 2,741 | |||||||||||||||||||||||
| Average total assets | $ | 71,054 | $ | 73,513 | $ | 70,266 | $ | 210,645 | $ | 211,220 | $ | 205,397 | |||||||||||||||||||||||
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(a)Net interest income is the difference between actual taxable-equivalent interest earned on assets and interest paid on liabilities by a segment and a funding charge (credit) based on the Company’s internal funds transfer pricing methodology. Segments are charged a cost to fund any assets (e.g. loans) and are paid a funding credit for any funds provided (e.g. deposits). The taxable-equivalent adjustment aggregated $44 million in 2025, $50 million in 2024 and $54 million in 2023 and is eliminated in "All Other" net interest income and income tax expense (benefit).
(b)Indirect expense represents centrally-allocated costs associated with certain technology, operations, risk management, finance and human resources expenses provided by the "All Other" category to the Commercial Bank, Retail Bank and Institutional Services and Wealth Management segments.
(c)Intersegment revenues and expenses were not material for the years ended December 31, 2025, 2024 and 2023.
The Commercial Bank segment provides a wide range of credit products and banking services to middle-market and large commercial customers, mainly within the markets served by the Company. Services provided by this segment include commercial lending and leasing, credit facilities which are secured by various types of commercial real estate, letters of credit, deposit products and cash management services. Commercial real estate loans may be secured by multifamily residential buildings, hotels, office, retail and industrial space or other types of collateral. Activities of this segment include the origination, sales and servicing of commercial real estate loans through the Fannie Mae DUS program and other programs. Commercial real estate loans held for sale are included in this segment.
The Retail Bank segment provides a wide range of services to consumers and small businesses through the Company’s branch network and several other delivery channels such as digital banking, telephone banking and ATMs. The Company has domestic banking offices primarily in the Northeastern and Mid-Atlantic regions of the U.S. including the District of Columbia. The segment offers to its customers deposit products, including demand, savings and time accounts, and other services. Credit services offered by this segment include automobile and recreational finance loans (primarily originated indirectly through dealers), home equity loans and lines of credit, credit cards and other loan products. This segment also originates and services residential mortgage loans and either sells those loans in the secondary market to investors or retains them for investment purposes. Residential mortgage loans are also originated and serviced on behalf of the Institutional Services and Wealth Management segment. The Company periodically purchases the rights to service residential real estate loans that have been originated by other entities and also sub-services residential real estate loans for others. Residential real estate loans held for sale are included in this segment. This segment also provides various business loans, including loans guaranteed by the Small Business Administration, business credit cards, deposit products and services such as cash management, payroll and direct deposit, merchant credit card and letters of credits to small businesses and professionals through the Company's branch network and other delivery channels.
The Institutional Services and Wealth Management segment provides a variety of trustee, agency, investment management and administrative services for corporations and institutions, investment bankers, corporate tax, finance and legal executives, and other institutional clients, as well as personal trust, planning and advisory, fiduciary, asset management, family office, and other services designed to help high net worth individuals and families grow, preserve and transfer wealth. This segment also provides investment products, including mutual funds and annuities and other services to customers.
The "All Other" category reflects other activities of the Company that are not directly attributable to the reported segments. Reflected in this category are the difference between the provision for credit losses and the calculated provision allocated to the reportable segments; goodwill and core deposit and other intangible assets resulting from the acquisitions of financial institutions; merger-related gains and expenses related to acquisitions; the net impact of the Company’s internal funds transfer pricing methodology; eliminations of transactions between reportable segments; certain non-recurring transactions; and the residual effects of unallocated support systems and general and administrative expenses. The Company’s investment securities portfolio, certain brokered deposits and short-term and long-term borrowings are generally included in the "All Other" category. In its management of interest rate risk, the Company utilizes interest rate swap agreements to modify the repricing characteristics of certain portfolios of earning assets and interest-bearing liabilities. The results of such activities are captured in the "All Other" category.
There are no transactions with a single customer that in the aggregate result in revenues that exceed ten percent of consolidated total revenues.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 18, 2026 | Showing above |
| 2024 | Feb 19, 2025 | |
| 2023 | Feb 21, 2024 | |
| 2022 | Feb 22, 2023 | |
| 2021 | Feb 16, 2022 | |
| 2020 | Feb 22, 2021 | |
| 2019 | Feb 20, 2020 | |
| 2018 | Feb 20, 2019 | |
| 2017 | Feb 22, 2018 | |
| 2016 | Feb 22, 2017 | |
| 2015 | Feb 19, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.