Company: MTB-PJ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000036270-25-000011
Chunk: 181

Company: M&T BANK CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 181
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 that may affect the Company's business, financial condition, liquidity and results of operations are also included in the 2024 Annual Report.

Financial Overview

The Company's results of operations in the second quarter of 2025 as compared with the first quarter of 2025 reflected higher taxable-equivalent net interest income and a rise in noninterest income, including favorable residential mortgage banking activities and gains on the sales of an out-of-footprint loan portfolio and a subsidiary that specialized in institutional services. The results of operations for each of the first quarters of 2025 and 2024 included seasonal salaries and employee benefits expense of $110 million and $99 million, respectively. The first six months of 2024 results included a $25 million distribution from M&T's investment in BLG and $34 million of FDIC special assessment expense. A summary of financial results for the Company is provided below:

SUMMARY OF FINANCIAL RESULTS

Three Months EndedChangeSix Months EndedChange(Dollars in millions, except per share)June 30,2025March 31,2025Amount%June 30,2025June 30,2024Amount%Net interest income$1,713 $1,695 $18 1 %$3,408 $3,398 $10 — %Taxable-equivalent adjustment (a)9 12 (3)-30 21 25 (4)-18 Net interest income (taxable-equivalent basis) (a)1,722 1,707 15 1 3,429 3,423 6 — Provision for credit losses125 130 (5)-4 255 350 (95)-27 Other income683 611 72 12 1,294 1,164 130 11 Other expense1,336 1,415 (79)-6 2,751 2,693 58 2 Net income716 584 132 23 1,300 1,186 114 10 Per common share data:Basic earnings4.26 3.33 .93 28 7.58 6.79 .79 12 Diluted earnings4.24 3.32 .92 28 7.55 6.76 .79 12 Performance ratios, annualizedReturn on:Average assets1.37 %1.14 %1.25