Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 186

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 8
Chunk 186
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 1,722 51 3 5,202 5,162 40 1 Provision for credit losses125 125 — — 380 470 (90)-19 Other income752 683 69 10 2,046 1,770 276 16 Other expense1,363 1,336 27 2 4,114 3,996 118 3 Net income792 716 76 11 2,092 1,907 185 10 Per common share data:Basic earnings4.85 4.26 .59 14 12.41 10.83 1.58 15 Diluted earnings4.82 4.24 .58 14 12.34 10.78 1.56 14 Performance ratios, annualizedReturn on:Average assets1.49 %1.37 %1.33 %1.21 %Average common shareholders’ equity11.45 10.39 10.07 9.47 Net interest margin3.68 3.62 3.66 3.58 __________________________________________________________________________________

(a)Net interest income data are presented on a taxable-equivalent basis which is a non-GAAP measure. The taxable-equivalent adjustment represents additional income taxes that would be due if all interest income were subject to income taxes. This adjustment, which is related to interest received on qualified municipal securities, industrial revenue financings and preferred equity securities, is based on a composite income tax rate of approximately 25%.

The increase in net income in the recent quarter as compared with the second quarter of 2025 resulted from the following:

•Net interest income on a taxable-equivalent basis increased $51 million reflecting an additional day of earnings, favorable earning assets and interest-bearing liabilities repricing and the impact of $20 million of lower taxable-equivalent interest income in the second quarter of 2025 resulting from an alignment of amortization periods for certain municipal bonds obtained from the acquisition of People’s United. Reflecting those factors the net interest margin expanded 6 basis points.

•Noninterest income increased $69 million reflecting higher residential mortgage banking revenues and a rise in other revenues from operations resulting from a $28 million distribution of an earnout payment related to the Company's 2023 sale of its CIT business, a $20 million distribution from M&T's investment in BLG and a $12 million gain on the