Company: MTB-PJ
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006267
Chunk: 112

Company: M&T BANK CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 112
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(a)At the period end.

The efficiency ratio measures the relationship of noninterest operating expenses, which exclude expenses M&T considers to be "nonoperating" in nature consisting of amortization of core deposit and other intangible assets and merger-related expenses, to revenues. The calculations of the Company’s efficiency ratio, or noninterest operating expenses divided by the sum of taxable-equivalent net interest income and noninterest income (exclusive of gains and losses from bank investment securities), and reconciliations of GAAP amounts with corresponding non-GAAP amounts are presented in Table 3.

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Table 3

RECONCILIATION OF GAAP TO NON-GAAP MEASURES

(Dollars in millions, except per share)202420232022Income statement dataNet incomeNet income$2,588 $2,741 $1,992 Amortization of core deposit and other intangible assets (a)42 48 43 Merger-related expenses (a)— — 431 Net operating income$2,630 $2,789 $2,466 Earnings per common shareDiluted earnings per common share$14.64 $15.79 $11.53 Amortization of core deposit and other intangible assets (a).24 .29 .26 Merger-related expenses (a)— — 2.63 Diluted net operating earnings per common share$14.88 $16.08 $14.42 Other expenseOther expense$5,359 $5,379 $5,050 Amortization of core deposit and other intangible assets(53)(62)(56)Merger-related expenses— — (338)Noninterest operating expense$5,306 $5,317 $4,656 Merger-related expensesSalaries and employee benefits$— $— $102 Equipment and net occupancy— — 7 Outside data processing and software— — 5 Professional and other services— — 72 Advertising and marketing— — 9 Other costs of operations— — 143 Other expense— — 338 Provision for credit losses— — 242 Total$— $— $580 Efficiency ratioNoninterest operating expense (numerator)$5,306 $5,317 $4,656 Taxable-equivalent net interest income$6