M&T BANK CORP MTB

Financials SIC 6022 - State Commercial Banks NYSE

M&T is a New York business corporation that has elected to be treated as an FHC under the BHCA and is a BHC under Article III-A of the New York Banking Law. M&T was incorporated in November 1969. At December 31, 2025, M&T had two wholly-owned bank subsidiaries: M&T Bank and Wilmington Trust, N.A. The banks collectively offer a wide range of retail and commercial banking, wealth management, trust and institutional services to their customers. The Company had consolidated total assets of $213.5 billion, deposits of $166.9 billion and shareholders' equity of $29.2 billion at December 31, 2025. The principal executive offices of M&T and M&T Bank are located in Buffalo, New York.

M&T Bank is a banking corporation that is incorporated under the laws of the State of New York. M&T Bank is a member of the Federal Reserve System and the FHLB System, and its deposits are insured by the FDIC through its DIF up to applicable limits. M&T acquired all of the issued and outstanding shares of the capital stock of M&T Bank in December 1969. The stock of M&T Bank represents a major asset of M&T. M&T Bank operates under a charter granted by the State of New York in 1892, and the continuity of its banking business is traced to the organization of Manufacturers and Traders Bank in 1856. M&T Bank provides banking products and services through a domestic banking office and ATM network located throughout New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Massachusetts, Maine, Vermont, New Hampshire, Virginia, West Virginia and the District of Columbia. As a commercial bank, M&T Bank offers a broad range of financial services to a diverse base of consumers, businesses, professional clients, governmental entities and financial institutions located in its markets. Lending is generally focused on consumers residing in areas where M&T Bank maintains banking offices, and on small and medium-size businesses based in those areas, although loans are originated through offices in other states and in Ontario, Canada. M&T Bank and certain of its subsidiaries also offer commercial mortgage loans secured by income producing properties or properties used by borrowers in a trade or business. Additional financial services are provided through other operating subsidiaries of M&T Bank including M&T Realty Capital which engages in multifamily commercial real estate lending and provides loan servicing to purchasers of the loans it originates, and LEAF Commercial Capital Inc. and M&T Equipment Finance Corp. which provide equipment leasing and financing services. Trust and other fiduciary services are offered by M&T Bank and through its wholly-owned subsidiary, Wilmington Trust Company. At December 31, 2025, M&T Bank and its subsidiaries represented over 99% of the consolidated assets of the Company.

Last close 239.84 2026-09-04
Market cap $34.64B 2026-06-30 share count
52-week range 174.76 - 255.95

Valuation FY2025 figures against the last close

P/S20.9x
P/E14.1x
P/FCF11.5x
EV/EBITDA
Dividend yield2.6%
Diluted EPS17.00

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.66B$1.54B$1.48B$1.52B$5.99B$5.95B$6.19B$5.93B$5.63B$5.30B
Interest expense $6.95B$6.85B$7.12B$5.82B$114.0M$326.4M$749.3M$526.4M$386.8M$426.0M
Pre-tax income $3.69B$3.31B$3.62B$2.61B$2.46B$1.77B$2.55B$2.51B$2.32B$2.06B
Income tax $841.0M$722.0M$878.0M$620.0M$596.0M$416.4M$618.1M$590.2M$915.6M$743.3M
Net income $2.85B$2.59B$2.74B$1.99B$1.86B$1.35B$1.93B$1.92B$1.41B$1.32B
EPS, basic 17.1014.7115.8511.5913.819.9413.7612.758.727.80
EPS, diluted 17.0014.6415.7911.5313.809.9413.7512.748.707.78
Shares, diluted (wtd. avg.) $158.8M$167.3M$167.0M$164.0M$128.8M$128.7M$134.5M$144.2M$152.6M$157.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $18.77B$20.78B$29.80B$26.48B$1.34B$1.55B$1.44B$1.61B$1.42B$1.32B
Property, plant and equipment $1.63B$1.71B$1.74B$1.65B$1.14B$1.16B$1.14B$647.4M$646.5M$675.3M
Goodwill $8.46B$8.46B$8.46B$8.49B$4.59B$4.59B$4.59B$4.59B$4.59B$4.59B
Other intangibles $64.0M$94.0M$147.0M$209.0M$4.0M$14.2M$29.0M$47.1M$71.6M$97.7M
Total assets $213.51B$208.10B$208.26B$200.73B$155.11B$142.60B$119.87B$120.10B$118.59B$123.45B
Short-term debt $2.15B$1.06B$5.32B$3.56B$47.0M$59.5M$62.4M$4.40B$175.1M$163.4M
Long-term debt $10.91B$12.61B$8.20B$3.96B$3.49B$4.38B$6.99B$8.44B$8.14B$9.49B
Total liabilities $184.33B$179.08B$181.31B$175.41B$137.20B$126.41B$104.16B$104.64B$102.34B$106.96B
Retained earnings $20.88B$19.08B$17.52B$15.75B$14.65B$13.44B$12.82B$11.52B$10.16B$9.22B
Total equity $29.18B$29.03B$26.96B$25.32B$17.90B$16.19B$15.72B$15.46B$16.25B$16.49B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $3.00B$3.61B$3.90B$4.57B$2.71B$789.2M$2.36B$2.09B$2.78B$1.18B
Depreciation and amortisation $323.0M$316.0M$304.0M$282.0M
Capital expenditure $256.0M$214.0M$149.0M$172.0M$178.0M$98.0M$79.0M$108.0M
Investing cash flow -$6.82B-$9.75B-$4.76B$16.59B-$13.63B-$22.02B$727.0M-$1.41B$3.39B-$720.8M
Financing cash flow $1.80B-$2.88B$4.18B-$20.98B$10.70B$21.35B-$3.25B-$495.2M-$6.08B-$510.1M
Dividends paid $899.0M$895.0M$868.0M$784.0M$580.0M$568.1M$552.1M$510.4M$457.4M$441.9M
Buybacks $2.63B$396.0M$594.0M$1.80B$373.8M$1.35B$2.19B$1.21B$641.3M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000036270-26-000010.

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