Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 166

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 8
Chunk 166
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 income, partially offset by a modest improvement in provision for credit losses. The fourth quarter of 2024 results included a distribution from M&T's investment in BLG, net gains on the sale of bank investment securities and a pension-related distribution benefit, partially offset by losses resulting from the redemption of certain of M&T's trust preferred obligations and vacated facility write-downs. The first quarter of 2024 results included $99 million of seasonal salaries and employee benefits expense and a $29 million FDIC special assessment expense. A summary of financial results for the Company is provided below:

SUMMARY OF FINANCIAL RESULTS

Three Months EndedChangeThree Months EndedChange(Dollars in millions, except per share)March 31,2025December 31,2024Amount%March 31,2025March 31,2024Amount%Net interest income$1,695 $1,728 $(33)-2 %$1,695 $1,680 $15 1 %Taxable-equivalent adjustment (a)12 12 — 3 12 12 — -5 Net interest income (taxable-equivalent basis) (a)1,707 1,740 (33)-2 1,707 1,692 15 1 Provision for credit losses130 140 (10)-7 130 200 (70)-35 Other income611 657 (46)-7 611 580 31 5 Other expense1,415 1,363 52 4 1,415 1,396 19 1 Net income584 681 (97)-14 584 531 53 10 Per common share data:Basic earnings3.33 3.88 (0.55)-14 3.33 3.04 0.29 10 Diluted earnings3.32 3.86 (0.54)-14 3.32 3.02 0.30 10 Performance ratios, annualizedReturn on:Average assets1.14 %1.28 %1.14 %1.01 %Average common shareholders’ equity8.36 9.75 8.36 8.14 Net interest margin3.66 3.58 3.66 3.52 __________________________________________________________________________________

(a)Net interest income data are presented on a taxable-equivalent basis