NYSE : MTB
M&T Bank Corporation — Financial statements
Financials · Banks - Regional · United States
Last price 220.72 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 31.72B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 8.21B | 8.24B | 8.48B | 8.02B | 5.24B | 3.75B |
| Interest Income on Investments | 2.25B | 2.25B | 2.55B | 2.20B | 1.01B | 190.00M |
| Total Interest Income | 10.46B | 10.49B | 11.03B | 10.22B | 6.25B | 3.94B |
| Interest Paid on Deposits | 2.55B | 2.75B | 3.29B | 2.42B | 295.00M | 52.00M |
| Interest Paid on Borrowings | 792.00M | 792.00M | 879.00M | 692.00M | 130.00M | 62.00M |
| Total Interest Expense | 3.34B | 3.54B | 4.17B | 3.11B | 425.00M | 114.00M |
| Net Interest Income | 7.12B | 6.95B | 6.85B | 7.12B | 5.82B | 3.83B |
| Trust Income | 765.00M | 724.00M | 675.00M | 680.00M | 741.00M | 645.00M |
| Mortgage Banking Activities | 561.00M | 550.00M | 436.00M | 409.00M | 357.00M | 571.00M |
| Income From Trading Activities | 58.00M | 58.00M | 39.00M | 49.00M | 27.00M | 24.00M |
| Gain (Loss) on Sale of Assets | -10.00M | 28.00M | 225.00M | 136.00M | ||
| Gain (Loss) on Sale of Investments | 6.00M | 2.00M | 10.00M | 4.00M | -6.00M | -21.00M |
| Gain (Loss) on Sale of Equity Investments | 20.00M | 20.00M | 48.00M | 20.00M | 30.00M | 30.00M |
| Other Non-Interest Income | 917.00M | 809.00M | 705.00M | 666.00M | 625.00M | 516.00M |
| Total Non-Interest Income | 2.87B | 2.74B | 2.43B | 2.53B | 2.36B | 2.17B |
| Revenues Before Loan Losses | 9.98B | 9.69B | 9.28B | 9.64B | 8.18B | 5.99B |
| Provision for Loan Losses | 520.00M | 505.00M | 610.00M | 645.00M | 517.00M | -75.00M |
| Revenue | 9.46B | 9.19B | 8.67B | 9.00B | 7.66B | 6.07B |
| Salaries and Employee Benefits | 3.25B | 3.21B | 3.05B | 2.88B | 2.57B | 1.96B |
| Federal Deposit Insurance | 52.00M | 50.00M | 146.00M | 315.00M | 90.00M | 70.00M |
| Amortization of Goodwill & Intangibles | 33.00M | 42.00M | 53.00M | 62.00M | 56.00M | 10.00M |
| Selling, General & Administrative | 1.77B | 1.68B | 1.57B | 1.60B | 1.47B | 1.11B |
| Other Non-Interest Expense | 456.00M | 518.00M | 546.00M | 527.00M | 525.00M | 419.00M |
| Total Non-Interest Expense | 5.56B | 5.49B | 5.36B | 5.38B | 4.71B | 3.57B |
| EBT Excluding Unusual Items | 3.90B | 3.69B | 3.31B | 3.62B | 2.95B | 2.50B |
| Pretax Income | 3.90B | 3.69B | 3.31B | 3.62B | 2.61B | 2.46B |
| Income Tax Expense | 889.00M | 841.00M | 722.00M | 878.00M | 620.00M | 596.00M |
| Net Income | 3.02B | 2.85B | 2.59B | 2.74B | 1.99B | 1.86B |
| Preferred Dividends & Other Adjustments | 165.00M | 152.00M | 139.00M | 105.00M | 101.00M | 82.00M |
| Net Income to Common | 2.85B | 2.70B | 2.45B | 2.64B | 1.89B | 1.78B |
| Basic Shares Outstanding | 147.95M | 157.88M | 166.48M | 166.36M | 163.17M | 128.65M |
| Diluted Shares Outstanding | 148.91M | 158.79M | 167.32M | 167.00M | 164.03M | 128.81M |
| EPS (Basic) | 19.27 | 17.10 | 14.71 | 15.85 | 11.59 | 13.81 |
| EPS (Diluted) | 19.15 | 17.00 | 14.64 | 15.79 | 11.53 | 13.80 |
| Dividend Per Share | 6.00 | 5.70 | 5.35 | 5.20 | 4.80 | 4.50 |
| Effective Tax Rate | 22.77% | 22.78% | 21.81% | 24.26% | 23.74% | 24.28% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.80B | 18.77B | 20.78B | 1.73B | 1.52B | 1.34B |
| Investment Securities | 52.24B | 11.90B | 13.85B | 42.03B | 37.37B | 43.14B |
| Trading Asset Securities | 342.00M | 356.00M | 408.00M | 530.00M | 471.20M | |
| Mortgage-Backed Securities | 26.71B | 21.76B | 14.39B | 12.80B | 5.88B | |
| Total Investments | 52.24B | 38.96B | 35.96B | 56.84B | 50.70B | 49.50B |
| Gross Loans | 144.76B | 137.78B | 135.06B | 134.07B | 131.91B | 92.24B |
| Allowance for Loan Losses | -2.18B | -2.12B | -2.18B | -2.13B | -1.93B | -1.47B |
| Other Adjustments to Gross Loans | -510.00M | -224.23M | ||||
| Net Loans | 142.58B | 135.66B | 132.88B | 131.94B | 129.48B | 90.54B |
| Property, Plant & Equipment | 1.81B | 1.91B | 1.94B | 1.65B | 1.14B | |
| Goodwill | 8.46B | 8.46B | 8.46B | 8.46B | 8.49B | 4.59B |
| Other Intangible Assets | 41.00M | 64.00M | 94.00M | 147.00M | 209.00M | 4.00M |
| Loans Held for Sale | 696.00M | 925.00M | 521.00M | 163.00M | 899.00M | |
| Accrued Interest Receivable | 8.31B | 6.88B | 6.48B | 646.00M | 335.16M | |
| Other Receivables | 75.00M | 72.00M | 68.00M | 74.00M | 68.00M | |
| Other Current Assets | 22.00M | 23.00M | 21.00M | |||
| Other Real Estate Owned & Foreclosed | 28.00M | 35.00M | 35.00M | 39.00M | 41.00M | 23.90M |
| Other Long-Term Assets | 14.67B | 435.00M | 511.00M | 601.00M | 7.73B | 6.64B |
| Total Assets | 220.51B | 213.51B | 208.10B | 208.26B | 200.73B | 155.11B |
| Interest Bearing Deposits | 122.69B | 117.64B | 112.28B | 113.98B | 98.01B | 71.41B |
| Institutional Deposits | 2.75B | 2.80B | ||||
| Non-Interest Bearing Deposits | 44.82B | 46.51B | 46.02B | 49.29B | 65.50B | 60.13B |
| Total Deposits | 167.51B | 166.91B | 161.09B | 163.27B | 163.51B | 131.54B |
| Short-Term Borrowings | 6.37B | 2.60B | 1.88B | 6.26B | 4.91B | 140.89M |
| Current Portion of Long-Term Debt | 744.00M | 903.86M | ||||
| Current Portion of Leases | 153.00M | |||||
| Accrued Interest Payable | 4.82B | 2.15B | 2.03B | 2.16B | 81.00M | 40.87M |
| Long-Term Debt | 13.65B | 10.51B | 10.17B | 7.66B | 2.69B | 2.05B |
| Federal Home Loan Bank Debt, Long-Term | 3.00M | 2.00B | 5.00M | 1.58M | ||
| Long-Term Leases | 499.00M | 677.00M | 717.00M | 709.00M | 431.00M | |
| Trust Preferred Securities | 403.00M | 433.00M | 540.00M | 536.00M | 531.68M | |
| Long-Term Unearned Revenue | 54.00M | 57.00M | 54.00M | 48.00M | 45.00M | |
| Other Long-Term Liabilities | 1.06B | 730.00M | 638.00M | 2.18B | 1.52B | |
| Total Liabilities | 192.35B | 184.33B | 179.08B | 181.31B | 175.41B | 137.20B |
| Preferred Stock, Redeemable | 3.02B | 2.83B | 2.39B | 2.01B | 2.01B | 1.75B |
| Common Stock | 25.14B | 90.00M | 90.00M | 90.00M | 90.00M | 79.87M |
| Additional Paid-In Capital | 10.01B | 10.00B | 10.02B | 10.00B | 6.63B | |
| Retained Earnings | 20.88B | 19.08B | 17.52B | 15.75B | 14.65B | |
| Treasury Stock | -4.92B | -2.37B | -2.23B | -1.75B | -5.08B | |
| Comprehensive Income & Other | 277.00M | -164.00M | -458.00M | -789.00M | -126.37M | |
| Total Common Equity | 25.14B | 26.34B | 26.63B | 24.95B | 23.31B | 16.15B |
| Shareholders' Equity | 28.16B | 29.18B | 29.03B | 26.96B | 25.32B | 17.90B |
| Total Liabilities & Equity | 220.51B | 213.51B | 208.10B | 208.26B | 200.73B | 155.11B |
| Total Debt | 20.02B | 14.17B | 15.16B | 15.18B | 9.58B | 4.06B |
| Net Cash (Debt) | -3.88B | 4.95B | 5.97B | 15.03B | 17.43B | 39.62B |
| Net Cash Per Share | -26.08 | 31.14 | 35.70 | 90.00 | 106.23 | 307.61 |
| Filing Date Shares Outstanding | 143.71M | 149.00M | 164.33M | 166.62M | 167.79M | 129.03M |
| Total Common Shares Outstanding | 143.71M | 151.83M | 165.51M | 166.14M | 169.27M | 128.71M |
| Book Value Per Share | 174.95 | 173.50 | 160.91 | 150.15 | 137.69 | 125.51 |
| Tangible Book Value | 16.64B | 17.81B | 18.07B | 16.33B | 14.61B | 11.56B |
| Tangible Book Value Per Share | 115.76 | 117.33 | 109.20 | 98.32 | 86.30 | 89.79 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 2.85B | 2.59B | 2.74B | 1.99B | 1.86B | |
| Depreciation & Amortization | 498.00M | 508.00M | 497.00M | 435.00M | 324.00M | |
| Gain (Loss) on Sale of Assets | -87.00M | -30.00M | -249.00M | -153.00M | -10.00M | |
| Total Asset Writedown | 18.00M | 40.00M | 4.00M | 8.00M | 8.00M | |
| Provision for Credit Losses | 505.00M | 610.00M | 645.00M | 517.00M | -75.00M | |
| Change in Trading Asset Securities | -358.00M | -57.00M | -266.00M | 1.23B | 567.00M | |
| Accrued Interest Receivable | -48.00M | -176.00M | 261.00M | -123.00M | 66.00M | |
| Change in Other Net Operating Assets | -358.00M | 154.00M | 369.00M | 701.00M | -111.00M | |
| Other Operating Activities | -18.00M | -27.00M | -97.00M | -30.00M | 87.00M | |
| Operating Cash Flow | 3.00B | 3.61B | 3.90B | 4.57B | 2.71B | |
| Capital Expenditures | -143.00M | -216.00M | -256.00M | -214.00M | -149.00M | |
| Cash Acquisitions | 394.00M | |||||
| Investment in Securities | -2.18B | -6.94B | -1.57B | 19.09B | -18.45B | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -4.51B | -2.06B | -2.50B | -2.06B | 5.48B | |
| Other Investing Activities | 19.00M | -538.00M | -440.00M | -620.00M | -511.00M | |
| Investing Cash Flow | -6.82B | -9.75B | -4.76B | 16.59B | -13.63B | |
| Short-Term Debt Issued | 1.09B | 1.76B | 2.61B | |||
| Long-Term Debt Issued | 3.53B | 5.50B | 5.04B | 999.00M | 10.00M | |
| Total Debt Issued | 4.62B | 5.50B | 6.80B | 3.61B | 10.00M | |
| Short-Term Debt Repaid | -4.26B | -13.00M | ||||
| Long-Term Debt Repaid | -5.38B | -1.01B | -824.00M | -907.00M | -853.00M | |
| Total Debt Repaid | -5.38B | -5.26B | -824.00M | -907.00M | -866.00M | |
| Net Debt Issued (Repaid) | -758.00M | 232.00M | 5.97B | 2.71B | -856.00M | |
| Repurchase of Common Stock | -2.63B | -396.00M | -594.00M | -1.80B | ||
| Preferred Stock Issued | 440.00M | 733.00M | 495.00M | |||
| Preferred Share Repurchases | -350.00M | |||||
| Common Dividends Paid | -899.00M | -895.00M | -868.00M | -784.00M | -580.00M | |
| Preferred Dividends Paid | -146.00M | -138.00M | -100.00M | -97.00M | -68.00M | |
| Total Dividends Paid | -1.04B | -1.03B | -968.00M | -881.00M | -648.00M | |
| Net Increase (Decrease) in Deposit Accounts | 5.81B | -2.18B | -248.00M | -20.99B | 11.74B | |
| Other Financing Activities | -20.00M | 114.00M | 18.00M | -14.00M | -28.00M | |
| Financing Cash Flow | 1.80B | -2.88B | 4.18B | -20.98B | 10.70B | |
| Net Cash Flow | -2.01B | -9.02B | 3.32B | 182.00M | -215.00M | |
| Free Cash Flow | 2.86B | 3.39B | 3.65B | 4.36B | 2.57B | |
| Free Cash Flow Margin | 31.14% | 39.15% | 40.55% | 56.90% | 42.29% | |
| Free Cash Flow Per Share | 18.01 | 20.29 | 21.85 | 26.58 | 19.92 | |
| Cash Interest Paid | 3.52B | 4.32B | 2.69B | 429.00M | 139.00M | |
| Cash Income Tax Paid | 529.00M | 236.00M | 452.00M | 488.00M | 314.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 32.26B | 30.97B | 31.19B | 22.75B | 25.04B | 19.76B |
| Last Close Price | 220.72 | 197.42 | 178.80 | 126.22 | 128.38 | 132.27 |
| PE Ratio | 11.72 | 11.47 | 12.74 | 8.63 | 13.24 | 11.12 |
| PS Ratio | 3.41 | 3.37 | 3.60 | 2.53 | 3.27 | 3.26 |
| PB Ratio | 1.26 | 1.06 | 1.07 | 0.84 | 0.99 | 1.10 |
| P/FCF Ratio | 8.98 | 10.83 | 9.19 | 6.24 | 5.74 | 7.70 |
| P/OCF Ratio | 8.48 | 10.31 | 8.64 | 5.83 | 5.47 | 7.28 |
| Debt / Equity Ratio | 0.71 | 0.49 | 0.52 | 0.56 | 0.38 | 0.23 |
| Debt / FCF Ratio | 4.95 | 4.47 | 4.16 | 2.20 | 1.58 | |
| Net Debt / Equity Ratio | 0.14 | -0.17 | -0.21 | -0.56 | -0.69 | -2.21 |
| Net Debt / FCF Ratio | -1.73 | -1.76 | -4.12 | -4.00 | -15.44 | |
| Return on Equity (ROE) | 10.60% | 9.80% | 9.25% | 10.49% | 9.22% | 10.91% |
| Return on Assets (ROA) | 1.40% | 1.35% | 1.24% | 1.34% | 1.12% | 1.25% |
| Earnings Yield | 8.53% | 9.21% | 8.30% | 12.05% | 7.95% | 9.41% |
| FCF Yield | 11.14% | 9.24% | 10.88% | 16.04% | 17.41% | 12.98% |
| Dividend Yield | 2.67% | 2.79% | 2.84% | 3.80% | 3.25% | 2.93% |
| Payout Ratio | 31.33% | 36.65% | 39.91% | 35.32% | 44.23% | 34.86% |
| Buyback Yield / Dilution | 8.15% | 5.10% | -0.19% | -1.81% | -27.34% | -0.08% |
| Total Shareholder Return | 10.82% | 7.89% | 2.65% | 1.98% | -24.10% | 2.85% |