Company: MTB-PJ
Filing Date: 2025-10-30
Form Type: 424B5
Source: 0001193125-25-257002
Chunk: 11

Company: M&T BANK CORP
Filing Date: 2025-10-30
Form: 424B5
Chunk 11
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ary shares on the NYSE to commence within a 30-day period after the initial delivery of the depositary shares. |

| Tax Consequences | For discussion of the tax consequences relating to the Preferred Stock, see “Certain U.S. Federal Income Tax Considerations” in this prospectus supplement. |

| Use of Proceeds | We intend to use the net proceeds of this offering for general corporate purposes, which may include the redemption of existing preferred stock. |

| Registrar | Computershare Inc. |

| Depositary | Computershare Inc. |

| Transfer Agent | Computershare Inc. |

| Conflicts of Interest | Because M&T Securities, Inc., an underwriter for this offering, is M&T’s wholly owned subsidiary, a conflict of interest under Financial Industry Regulatory Authority, Inc. (“FINRA”) Rule 5121 is deemed to exist.                                  
 Accordingly, this offering will be conducted in accordance with this rule. Pursuant to FINRA Rule 5121, M&T Securities, Inc. will not confirm sales to any account over which it exercises discretionary authority without the specific prior written 
 approval of the account holder.                                                                                                                                                                                                                       |

S-5

RISK FACTORS

An investment in the depositary shares is subject to certain risks. This prospectus supplement does not describe all of those risks. Before making an investment decision, you should carefully consider the risks described below and the risk factors and other information incorporated by reference in this prospectus supplement, including the risks described in “Item 1A—Risk Factors” to Part I of our Annual Report on Form 10-K forthe year ended December 31, 2024. Our business, financial condition or results of operations could be materially adversely affected by any of these risks, and you may lose all or part of your investment. This prospectus supplement also contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including the risks described below and elsewhere in this prospectus supplement.

Risks Relating to this Offering and the Preferred Stock

You are making an investment decision about the depositary shares as well as our Preferred Stock.

As described in this prospectus supplement, we are issuing depositary shares representing fractional interests in shares of our Preferred
Stock. The depositary will rely solely on the payments it receives on the Preferred Stock to fund all payments on the depositary shares. You should review carefully the information in this prospectus supplement and the accompanying prospect