Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 226

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 2
Chunk 226
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.28 .59 14 12.49 10.97 1.52 14 Annualized return on:Average tangible assets1.56 %1.44 %1.41 %1.28 %Average tangible common equity17.13 15.54 15.07 14.51 Efficiency ratio53.6 55.2 56.3 57.0 Tangible equity per common share (a)$115.31 $112.48 2.83 3 $115.31 $107.97 7.34 7 __________________________________________________________________________________

(a)At the period end.

The efficiency ratio measures the relationship of noninterest operating expenses, which exclude expenses M&T considers to be "nonoperating" in nature consisting of amortization of core deposit and other intangible assets and merger-related expenses, to revenues. The calculations of the Company’s efficiency ratio, or noninterest operating expenses divided by the sum of taxable-equivalent net interest income and noninterest income (exclusive of gains and losses from bank investment securities), and reconciliations of GAAP amounts with corresponding non-GAAP amounts are presented in Table 2.

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Taxable-equivalent Net Interest Income

Interest income earned on certain of the Company's assets is exempt from federal income tax. Taxable-equivalent net interest income is a non-GAAP measure that adjusts income earned on a tax-exempt asset to present it on an equivalent basis to interest income earned on a fully taxable asset. 

The Company's average balance sheets accompanied by the annualized taxable-equivalent interest income and expense and the average rate on the Company's earning assets and interest-bearing liabilities are presented as follows.

AVERAGE BALANCE SHEETS AND ANNUALIZED TAXABLE-EQUIVALENT RATESThree Months EndedSeptember 30, 2025June 30, 2025(Dollars in millions)AverageBalanceInterestAverageRateAverageBalanceInterestAverageRateAssetsEarning assets:Loans (a):Commercial and industrial$61,716 $1,004 6.45 %$61,036 $974 6.40 %Real estate - commercial24,353 395 6.35 25,333 404 6.31 Real estate - residential24,359 279 4.59 23,684 268 4.52 Consumer26,099 435 6.60 25,354