Company: MTB-PJ
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-044781
Chunk: 34

Company: M&T BANK CORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 34
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 were $14.64 and return on average assets was 1.23%. Net operating return on average tangible assets(1)of 1.30% was equal to the highest among peers. Return on average common shareholders’ equity was 9.5% and net operating return on average tangible common equity(1)was 14.5%. Excluding the impact of accumulated other comprehensive income, net operating return on average tangible common equity(1)was in the top quartile among peers;•Average loans and leases grew $2.0 billion, or 1.5%, in 2024 despite planned reductions in commercial real estate loans. The growth in average loans and leases, excluding average commercial real estate loans, was 6.3% in 2024;•The level of criticized commercial and industrial and commercial real estate loans declined meaningfully from $12.6 billion, or 14.0%, at the end of 2023 to $9.9 billion, or 11.2%, at the end of 2024;•As a percentage of Tier 1 capital plus allowance for credit losses, the commercial real estate loan concentration declined from 183% at the end of 2023 to 136% at the end of 2024;•M&T’s net interest margin of 3.58% led its peer group;•Tangible equity per common share at the end of 2024 grew 11% from the end of 2023;•M&T’s capital position continued to strengthen as the Common Equity Tier 1 capital ratio increased for the 7th consecutive quarter to 11.68% at the end of 2024, meanwhile M&T’s stress capital buffer improved to 3.8%;•M&T resumed share repurchases in the third quarter of 2024 with 2.1 million common shares repurchased at a total cost of $400 million(3)in the second half of 2024;•M&T’s common stock dividend grew 3% representing the 8th consecutive year of increases(1)M&T consistently provides supplemental reporting of its results on a “net operating” or “tangible” basis, from which M&T excludes theafter-taxeffect 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