Company: MTB-PJ
Filing Date: 2025-07-29
Form Type: 424B2
Source: 0001193125-25-167978
Chunk: 1

Company: M&T BANK CORP
Filing Date: 2025-07-29
Form: 424B2
Chunk 1
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 principles (“GAAP”) for the second
quarter of 2025 were $4.24, up 14% from $3.73 in the year-earlier quarter. GAAP-basis net income in the recent quarter aggregated $716 million, 9% higher than $655 million in the second quarter of 2024. Diluted earnings per common share
and GAAP-basis net income were $3.32 and $584 million, respectively, in the first quarter. GAAP-basis net income for the second quarter of 2025 expressed as an annualized rate of return on average assets and average common shareholders’
equity was 1.37% and 10.39%, respectively, compared with 1.24% and 9.95%, respectively, in the year-earlier quarter and 1.14% and 8.36%, respectively, in 2025’s first quarter.

Taxable-equivalent net interest income increased $15 million, or 1%, in the recent quarter as compared with the first quarter of 2025.
Average interest-bearing deposits at banks were essentially unchanged and the yield received on those deposits declined 1 basis point. Average investment securities increased $855 million and the rates earned on those securities decreased 19
basis points reflecting $20 million of lower taxable-equivalent interest income resulting from an alignment of amortization periods for certain municipal bonds obtained from an acquisition. Average loans increased $563 million and the
yield received on those loans, including the impact from interest rate swap agreements used for hedging purposes, rose 5 basis points. Average interest-bearing deposits increased $2.5 billion and the rates paid on such deposits rose 1 basis
point. Average borrowings rose $109 million and the rates paid on such borrowings increased 1 basis point.

Taxable-equivalent net
interest income decreased $9 million as compared with the year-earlier second quarter. Average interest-bearing deposits at banks decreased $9.6 billion and the yield received on those deposits declined 103 basis points. Average investment
securities increased $5.6 billion and the yield earned on those securities rose 20 basis points. Average loans grew $819 million while the yield received on those loans decreased 27 basis points. Average interest-bearing deposits rose
$2.5 billion while the rates paid on those deposits declined 52 basis points. Average borrowings decreased $2.2 billion and the rates paid on such borrowings declined 34 basis points.

The provision