Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 101

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 1
Chunk 101
---
50 1.35 1.35 Preferred stock (b)36 35 47 __________________________________________________________________________________

(a)Reconciliations of total common shareholders’ equity and tangible common equity and total assets and tangible assets as of each of those dates are presented in Table 2.

(b)Cash dividends on common stock were $670 million and $671 million and preferred stock dividends were $107 million and $99 million for the nine months ended September 30, 2025 and 2024, respectively.

- 72 -

Shareholders’ equity reflects accumulated other comprehensive income or loss, which includes the net after-tax impact of unrealized gains or losses on investment securities classified as available for sale, gains or losses associated with interest rate swap agreements designated as cash flow hedges and adjustments to reflect the funded status of defined benefit pension and other postretirement plans. The components of accumulated other comprehensive income (loss) are presented in the following table.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - NET OF INCOME TAX

(Dollars in millions, except per share)September 30, 2025December 31, 2024September 30, 2024Investment securities unrealized gains (losses), net (a)$121 $(153)$51 Cash flow hedges unrealized gains (losses), net (b)68 (101)45 Defined benefit plans adjustments, net (c)93 98 (119)Other, net(5)(8)(4)Total$277 $(164)$(27)Accumulated other comprehensive income (loss), net, per common share$1.80 $(0.99)$(0.16)__________________________________________________________________________________

(a)Refer to note 3 of Notes to Financial Statements.

(b)Refer to note 11 of Notes to Financial Statements.

(c)Refer to note 8 of Notes to Financial Statements.

On January 22, 2025, M&T's Board of Directors authorized a program under which $4.0 billion of common shares may be repurchased. That authorization replaced and terminated the previous authorized share repurchase program effective as of the same date. M&T repurchased 2.1 million shares of its common stock in the recent quarter at an average cost per share of $193.46 resulting in a total cost of $409 million and 6.1 million shares of its common stock at an average cost per share of $175.93 resulting in a total