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BUFFALO, N.Y., April 15, 2026 /PRNewswire/ — M&T Bank Corporation (“M&T” or “the Company”) reports quarterly net income of $664 million or $4.13 of diluted earnings per common share.

 Financial Highlights

• Net interest margin widened 2 basis points from the fourth quarter of 2025 to 3.71% in the recent quarter reflecting a decline in funding costs that outpaced a reduction in yields received on earning assets.
• Growth in average loans in the recent quarter reflects higher average balances of commercial and industrial loans, partially offset by lower average balances of commercial real estate and consumer loans.
• Noninterest income reflects the impact of the Company’s election on January 1, 2026 to prospectively measure its residential mortgage loan servicing right assets at fair value and lower gains on commercial mortgage loans originated for sale, partially offset by a $33 million distribution from M&T’s investment in Bayview Lending Group LLC (“BLG”) in the recent quarter.
• The increase in noninterest expense includes seasonal salaries and employee benefits expense of $115 million, partially offset by lower other costs of operations reflecting a $30 million contribution to The M&T Charitable Foundation and amortization of residential mortgage loan servicing right assets each in the fourth quarter of 2025.
• The allowance for loan losses as a percent of total loans remained unchanged at March 31, 2026.
• In the recent quarter M&T repurchased 5.5 million shares of its common stock in accordance with its capital plan resulting in a total cost of $1.25 billion. M&T’s CET1 capital ratio is estimated to be 10.33% at March 31, 2026.

Chief Financial Officer Commentary

“M&T continued to produce strong operating results and return capital to its shareholders in the recent quarter while investing in its businesses and expanding its operational capabilities in support of our strategic objectives of operational excellence and teaming for growth to meet the needs of our customers and make a difference in people’s lives. I am pleased to report the successful conversion of our core general ledger platform earlier this week.”

– Daryl N. Bible, M&T’s Chief Financial Officer

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M&T consistently provides supplemental reporting of its results on a “net operating” or “tangible” basis, from which M&T excludes the after-tax effect of amortization of core deposit and other intangible assets (and the related goodwill and core deposit and other intangible asset balances, net of applicable deferred tax amounts) and expenses associated with merging acquired operations into M&T (when incurred), since such items are considered by management to be “nonoperating” in nature.

Taxable-equivalent net interest income decreased $27 million, or 2%, as compared with the fourth quarter of 2025 reflecting two less calendar days in the recent quarter. Taxable-equivalent net interest income increased $56 million, or 3%, as compared with the year-earlier first quarter reflecting growth in average loans and investment securities and favorable earning asset and interest-bearing liability repricing, including an improved impact from interest rate swap agreements.

Average earning assets rose $228 million from the fourth quarter of 2025 reflecting loan growth and purchases of investment securities, partially offset by a decrease in interest-bearing deposits at banks. Loan growth in the recent quarter reflected higher average commercial and industrial loan balances of $1.5 billion, including higher balances of loans to the financial and insurance industry, partially offset by lower average balances of commercial real estate loans of $605 million and consumer loans of $171 million.

Average earning assets increased $3.5 billion from the first quarter of 2025. Average interest-bearing deposits at banks decreased $3.5 billion as liquidity was deployed to originate loans and purchase investment securities. The growth in average loans reflected higher average balances of commercial and industrial loans of $2.7 billion, including growth in loans to the financial and insurance industry, an increase in average residential real estate loan balances of $1.6 billion and higher average consumer loan balances of $2.0 billion, reflecting growth in average balances of recreational finance, automobile loans and home equity loans and lines of credit. Those increases were partially offset by a $2.8 billion decline in average commercial real estate loan balances, reflecting payoffs.

Average interest-bearing liabilities in the recent quarter rose $988 million from the fourth quarter of 2025 reflecting an increase in short-term borrowings from the FHLB of New York, partially offset by a decline in average interest-bearing deposits and long-term borrowings, including maturities of senior notes.

Average interest-bearing liabilities increased $6.5 billion from the first quarter of 2025, as growth in average savings and interest-checking deposits of $5.0 billion and higher average short-term borrowings from the FHLB of New York were partially offset by a $1.1 billion decline in average time deposits due to maturities.