Company: MTB-PJ
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006267
Chunk: 113

Company: M&T BANK CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 113
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,902 $7,169 $5,861 Other income2,427 2,528 2,357 Less: Gain (loss) on bank investment securities10 4 (6)Denominator$9,319 $9,693 $8,224 Efficiency ratio56.9 %54.9 %56.6 %Balance sheet dataAverage assetsAverage assets$211,220 $205,397 $190,252 Goodwill(8,465)(8,473)(7,537)Core deposit and other intangible assets(120)(177)(179)Deferred taxes33 44 43 Average tangible assets$202,668 $196,791 $182,579 Average common equityAverage total equity$28,052 $25,899 $23,810 Preferred stock(2,344)(2,011)(1,946)Average common equity25,708 23,888 21,864 Goodwill(8,465)(8,473)(7,537)Core deposit and other intangible assets(120)(177)(179)Deferred taxes33 44 43 Average tangible common equity$17,156 $15,282 $14,191 At end of yearTotal assetsTotal assets$208,105 $208,264 $200,730 Goodwill(8,465)(8,465)(8,490)Core deposit and other intangible assets(94)(147)(209)Deferred taxes28 37 51 Total tangible assets$199,574 $199,689 $192,082 Total common equityTotal equity$29,027 $26,957 $25,318 Preferred stock(2,394)(2,011)(2,011)Common equity26,633 24,946 23,307 Goodwill(8,465)(8,465)(8,490)Core deposit and other intangible assets(94)(147)(209)Deferred taxes28 37 51 Total tangible common equity$18,102 $16,371 $14,659 

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(a)After any related tax effect.

56

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