Company: MTB-PJ
Filing Date: 2025-10-30
Form Type: 424B5
Source: 0001193125-25-257002
Chunk: 14

Company: M&T BANK CORP
Filing Date: 2025-10-30
Form: 424B5
Chunk 14
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 such dividend period. In such a case, holders of
the Preferred Stock will not be entitled to receive any dividend for that dividend period, and the unpaid dividend will cease to accrue or be payable.

Under the Federal Reserve’s capital rules, we are subject to certain risk-based and leverage capital requirements. If we fail to meet
the effective minimum capital ratios requirements with applicable buffers taken into account, we will be subject to constraints on capital distributions, including dividends. The severity of the constraints depends on the amount of the shortfall and
the amount of our “eligible retained income.”

Further, these limitations may change from time to time. For example, in March
2020, the Federal Reserve adopted a rule that, beginning October 1, 2020, replaced the 2.5% static capital conservation buffer with a “stress capital buffer”, which is the higher of 2.5% and the difference between the starting and
the minimum projected Common Equity Tier 1 capital ratios under the severely adverse scenario as modeled by the Federal Reserve as part of the supervisory stress testing framework, plus four quarters of planned common stock dividends. This rule also
replaced the quantitative assessment in the Comprehensive Capital Analysis and Review with a requirement that a firm’s planned capital distributions be consistent with any effective capital distribution limitations that would apply under the
firm’s own baseline projections. This rule further provides that a firm must receive prior approval for any capital distribution, other than a capital distribution on a newly issued capital instrument, if the firm is required to resubmit its
capital plan. Additionally, on July 27, 2023, the federal banking agencies issued a notice of proposed rulemaking to modify the regulatory capital requirements applicable to large banking organizations with over $100 billion of total
assets and their depository institution subsidiaries. The proposed rule would generally require banking organizations subject to Category III and IV standards, like us, to compute

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regulatory capital consistent with Category I and II standards. As proposed, the new capital rules could require us and our depository institution subsidiaries to hold additional regulatory
capital. The Federal Reserve has indicated that it expects to work with the other federal banking regulators for a revised proposal by the end of 2025 or early 2026.

We may be able to redeem the Preferred Stock prior to December 15, 2030.

By its terms, the Preferred Stock may be redeemed by us prior to December 15, 2030 upon the occurrence of certain events involving the
capital treatment of the