Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 118

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 1
Chunk 118
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 of the efficiency ratio, are net of applicable income tax effects. A reconciliation of net income and net operating income appears in Table 2.

(b)Excludes impact of merger-related expenses and net securities transactions.

(c)The difference between total assets and total tangible assets, and common shareholders’ equity and tangible common shareholders’ equity, represents goodwill, core deposit and other intangible assets, net of applicable deferred tax balances. A reconciliation of such balances appears in Table 2.

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M&T Bank Corporation and Subsidiaries

Table 2

RECONCILIATION OF QUARTERLY GAAP TO NON-GAAP MEASURES

2025 Quarters2024 Quarters(Dollars in millions, except per share)ThirdSecondFirstFourthThirdSecondFirstIncome statement dataNet incomeNet income$792 $716 $584 $681 $721 $655 $531 Amortization of core deposit and other intangible assets (a)6 8 10 10 10 10 12 Net operating income$798 $724 $594 $691 $731 $665 $543 Earnings per common shareDiluted earnings per common share$4.82 $4.24 $3.32 $3.86 $4.02 $3.73 $3.02 Amortization of core deposit and other intangible assets (a).05 .04 .06 .06 .06 .06 .07 Diluted net operating earnings per common share$4.87 $4.28 $3.38 $3.92 $4.08 $3.79 $3.09 Other expenseOther expense$1,363 $1,336 $1,415 $1,363 $1,303 $1,297 $1,396 Amortization of core deposit and other intangible assets(10)(9)(13)(13)(12)(13)(15)Noninterest operating expense$1,353 $1,327 $1,402 $1,350 $1,291 $1,284 $1,381 Efficiency ratioNoninterest operating expense (numerator)$1,353 $1,327 $1,402 $1,350 $1,291 $1,284 $1,381