M&t Bank Corporation · NYSE:MTB
M&t Bank — Q2 2025 Earnings Presentation
29 slides from M&t Bank's earnings presentation, Jul 16, 2025
Slide 1: Earnings Results 2nd Quarter 2025
Earnings Results 2nd Quarter 2025 July 16, 2025
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measures
Forward-Looking Statements and Non-GAAP Financial Measures This presentation may contain forward-looking statements regarding M&T Bank Corporation (“M&T”) within the meaning of protection and validity of intellectual property rights; reliance on large customers; technological, implementation and cos
Slide 3: Together, We are M&T Bank
Together, We are M&T Bank We are committed to Our Customers Our Communities Our Colleagues Our Shareholders Linking our customers M&T is a We empower our We deliver reliable results to the people, capital, and “bank for communities,” employees to be the best anchored by a strong balance ideas that e
Slide 4: Key Awards and Accolades
Key Awards and Accolades Wilmington Trust Wilmington Trust Received 13 “Best Bank” Awards across Small Business Finalist: “Collateral Finalist: “Emerald GEMS” Estate and Middle-Market Categories Specialist” Planning, Thought Leadership Small Business • Best Bank for Valuing Long-Term Relationships (
Slide 5: Financial Results
M&&Bank Corporation! 5
Slide 6: Second Quarter 2025 Earnings Highlights
Second Quarter 2025 Earnings Highlights GAAP Notable items ($ in millions, except per share) 2Q25 1Q25 2Q24 ($ in millions, except per share) 2Q25 1Q25 2Q24 Revenues $2,396 $2,306 $2,302 Amt(1) EPS Amt(1) EPS Amt(1) EPS Noninterest Expense 1,336 1,415 1,297 Premium amortization for ($17) ($0.09) $—
Slide 7: Second Quarter 2025 Earnings Highlights
Second Quarter 2025 Earnings Highlights Net Operating Results (Non-GAAP)(1) ($ in millions, except per share) 2Q25 1Q25 2Q24 Net Operating Income $724 $594 $665 Diluted Net Operating EPS 4.28 3.38 3.79 Efficiency Ratio 55.2% 60.5% 55.3% Net Operating ROTA 1.44 1.21 1.31 Net Operating ROTCE 15.54 12.
Slide 8: Net Interest Income & Net Interest Margin
Net Interest Income(1) & Net Interest Margin QoQ Drivers $1,731 $1,739 $1,740 • Taxable-equivalent net interest income(1) increased +$15 $1,707 $1,722 million or 1% QoQ – One additional day – Fixed asset repricing, including lower negative impact from interest rate swap agreements – Higher liability
Slide 9: Balance Sheet – Overview
Balance Sheet – Overview Change 2Q25 vs Average Balances, $ in billions, except per share 2Q25 1Q25 2Q24 1Q25 2Q24 Interest-bearing Deposits at Banks $19.7 $19.7 $29.3 —% -33% Investment Securities 35.3 34.5 29.7 2 19 Commercial and Industrial (“C&I”) 61.0 61.0 58.1 — 5 Commercial Real Estate (“CRE”
Slide 10: Balance Sheet – Average Loans
Balance Sheet – Average Loans $134.6 $134.8 $135.7 $134.8 $135.4 QoQ Drivers $24.0 $22.0 $22.9 $24.3 $25.4 Average loans increased +$563 million QoQ: • CRE loans declined -4% (-$926 million), reflecting $23.0 $23.0 $23.1 $23.2 $23.7 higher payoffs and the sale of an out-of-footprint portfolio $ IN B
Slide 11: Balance Sheet – Securities and Invested Cash
Balance Sheet – Securities and Invested Cash Average Investment Securities and Yield Securities and Invested Cash - at 6/30/25 $35.3 $34.5 Other $33.7 Securities 2% HTM $31.0 Securities $29.7 24% Interest- bearing deposits $54.9B $ IN BILLIONS at banks 2Q25 35% TOTAL 3.88% 4.00% Adjusted 3.81% 3.61%
Slide 12: Balance Sheet – Average Deposits
Balance Sheet – Average Deposits 2Q24 3Q24 4Q24 1Q25 2Q25 Total deposit cost 2.06% 2.06% 1.90% 1.70% 1.72% QoQ Drivers Interest-bearing deposit cost 2.90% 2.88% 2.64% 2.37% 2.38% Average deposits increased +$2.2 billion or +1% QoQ: $163.5 $161.5 $164.6 $163.4 $161.2 $19.8 $16.0 $14.2 $14.3 • Interes
Slide 13: Income Statement – Noninterest Income
Income Statement – Noninterest Income $683 Change 2Q25 vs $657 $ in millions 2Q25 1Q25 2Q24 1Q25 2Q24 $606 $611 $ IN MILLIONS $584 Mortgage Banking Revenues $130 $118 $106 11% 23% Service Charges on Deposits 137 133 127 4 8 Trust Income 182 177 170 3 7 Brokerage Services 31 32 30 -1 3 Non-hedge Deri
Slide 14: Income Statement – Noninterest Expenses
Income Statement – Noninterest Expenses $1,415 Change 2Q25 vs $1,363 $1,336 $ in millions 2Q25 1Q25 2Q24 1Q25 2Q24 $1,297 $1,303 $1,402 (2) $1,350 $1,327 Salaries & Benefits $813 $887 $764 -8% 6% $1,284 $1,291 Equip & Occupancy 130 132 125 -2 4 $ IN MILLIONS Outside Data Proc & SW 138 136 124 1 11 P
Slide 15: Credit
Credit Net Charge-offs Provision for Credit Losses $160 $ IN MILLIONS $ IN MILLIONS $137 $150 $120 $140 $114 $130 $20 0.47% $108 $120 0.41% 0.35% 0.34% 0.32% $105 2Q24 3Q24 4Q24 1Q25 2Q25 2Q24 3Q24 4Q24 1Q25 2Q25 Net Charge-offs ($) Net Charge-off Ratio (%) Provision for Loan Losses Provision for Un
Slide 16: Criticized C&I and CRE Loans
Criticized C&I and CRE Loans Criticized loans decreased -$1.0 billion QoQ: $12.1 • C&I decreased -$226 million $10.9 – Driven primarily by health services, motor vehicle and recreational finance dealers and transportation, $9.9 communications, utilities $9.4 • CRE decreased -$813 million $ IN BILLIO
Slide 17: Criticized C&I Loans
Criticized C&I Loans June 30, 2025 March 31, 2025 Criticized Criticized Total Criticized Criticized Total (Dollars in millions) Outstanding Accrual Nonaccrual Criticized Outstanding Accrual Nonaccrual Criticized Commercial and industrial excluding owner-occupied real estate by industry: Financial an
Slide 18: Criticized CRE Loans
Criticized CRE Loans June 30, 2025 March 31, 2025 Criticized Criticized Total Criticized Criticized Total (Dollars in millions) Outstanding Accrual Nonaccrual Criticized Outstanding Accrual Nonaccrual Criticized Permanent finance by property type: Apartments/Multifamily $6,082 $600 $73 $673 $5,593 $
Slide 19: Capital
Capital CET1(1) TBVPS (2) $111.13 $112.48 11.68% $107.97 $109.36 11.45% 11.54% 11.50% $102.42 10.98% 2Q24 3Q24 4Q24 1Q25 2Q25 2Q24 3Q24 4Q24 1Q25 2Q25 QoQ Drivers • CET1 capital ratio decreased -52 bps to 10.98%(1) at the • Stress capital buffer to improve from 3.8% to an estimated end of 2Q25 2.7%
Slide 20: 2025 Outlook
2025 Outlook 2025 Outlook Comments Net Interest Income $7.0 billion to Taxable-equivalent • NIM in the mid to high 3.60s $7.15 billion Excluding notable items Income Statement Fee Income $2.5 billion to • High end of the range Excluding notable items $2.6 billion • Continued strength in trust and mo
Slide 21: Focused on Four Priorities
Focused on Four Priorities We continue our mission to simplify M&T and make investments that will improve the experience of our customers and colleagues — and help us maintain our differentiated community bank approach Build our New England and Optimize our Resources through Simplification Long Isla
Slide 22: Why invest in M&T?
Why invest in M&T? Purpose-Driven Successful and Sustainable Business Model that Produces Strong Shareholder Returns Purpose Driven Successful and Strong Shareholder Organization Sustainable Returns Business Model • Long term focused with deeply • Experienced and seasoned • 15-17% ROTCE(1) embedded
Slide 23: Appendix
Appendix M&&Bank Corporation| 23
Slide 24: GAAP to Net Operating (Non-GAAP) Reconciliation
Appendix GAAP to Net Operating (Non-GAAP) Reconciliation In millions, except per share 2Q24 3Q24 4Q24 1Q25 2Q25 Net income Net income $655 $721 $681 $584 $716 Amortization of core deposits and other intangible assets (1) 10 10 10 10 8 Net operating income $665 $731 $691 $594 $724 Earnings per common
Slide 25: GAAP to Net Operating (Non-GAAP) Reconciliation
Appendix GAAP to Net Operating (Non-GAAP) Reconciliation In millions 2Q24 3Q24 4Q24 1Q25 2Q25 Other expense Other expense $1,297 $1,303 $1,363 $1,415 $1,336 Amortization of core deposit and other intangible assets (13) (12) (13) (13) (9) Noninterest operating expense $1,284 $1,291 $1,350 $1,402 $1,3
Slide 26: GAAP to Tangible (Non-GAAP) Reconciliation
Appendix GAAP to Tangible (Non-GAAP) Reconciliation In millions 2Q24 3Q24 4Q24 1Q25 2Q25 Average assets Average assets $211,981 $209,581 $211,853 $208,321 $210,261 Goodwill (8,465) (8,465) (8,465) (8,465) (8,465) Core deposit and other intangible assets (126) (113) (100) (92) (89) Deferred taxes 30
Slide 27: GAAP to Tangible (Non-GAAP) Reconciliation
Appendix GAAP to Tangible (Non-GAAP) Reconciliation In millions 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 Total assets Total assets $208,855 $211,785 $208,105 $210,321 $211,584 Goodwill (8,465) (8,465) (8,465) (8,465) (8,465) Core deposit and other intangible assets (119) (107) (94) (93) (8
Slide 28: Reconciliation of Adjusted Metrics
Appendix Reconciliation of Adjusted Metrics In millions, except per share 2Q24 3Q24 4Q24 1Q25 2Q25 Taxable-equivalent net interest income - Adjusted Taxable-equivalent net interest income $1,722 Premium amortization for acquired securities 20 Taxable-equivalent net interest income - Adjusted $1,742
Slide 29: Reconciliation of Adjusted Metrics
Appendix Reconciliation of Adjusted Metrics In millions 2Q24 3Q24 4Q24 1Q25 2Q25 Other income - Adjusted Other income $584 $657 $683 Gain on sale of out-of-footprint loan portfolio — — (15) Gain on sale of institutional services subsidiary — — (10) Other income - Adjusted $584 $657 $658 Noninterest