M&t Bank Corporation · NYSE:MTB
M&t Bank — Investor Presentation (October 2025)
38 slides from M&t Bank's investor presentation, Oct 28, 2025
Slide 1: Investor Update 4th Quarter 2025
Investor Update 4th Quarter 2025 OCTOBER 2025 Exhibit 99.1
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 the Private Securities Litigation Reform Act of 1995 and the rules and regulations of the Securities and Exchange Commissio
Slide 3: Together, We are M&T Bank
Our Customers Linking our customers to the people, capital, and ideas that empower them in the moments that matter most in their lives. Our Communities M&T is a “bank for communities,” a true engine for local economic development and relationship-building. Our Colleagues We empower our employees to
Slide 4: Focused on Four Priorities
Focused on Four Priorities 4 Build our New England and Long Island Markets Optimize our Resources through Simplification Make our Systems and Processes Resilient and Scalable Continue to Develop and Scale our Capability to Manage Risk We continue our mission to simplify M&T and make investments that
Slide 5: Key Awards and Accolades Received
5 Key Awards and Accolades Received 13 “Best Bank” Awards across Small Business and Middle-Market Categories Small Business • Best Bank for Valuing Long-Term Relationships (U.S.) • Best Bank for Customer Service (U.S.) • Best Bank for Ease of Doing Business (U.S.) • Best Bank for Trust (U.S.) Middle
Slide 6: Through the Cycle Profitability Advantage
Through the Cycle Profitability Advantage… 6 (1) See Appendix 1 and 2 for reconciliation of GAAP with these non-GAAP measures Net Operating ROTA(1) Better than Peer PPNR Generation & Credit Losses • Aided by NIM, efficiency and credit loss outperformance Consistent Profitability Advantage • Over the
Slide 7: Combined with Consistent Growth
$1.60 $5.70 $- $1 $2 $3 $4 $5 $6 2004 2009 2014 2019 2024 $23.62 $109.36 $- $20 $40 $60 $80 $100 $120 2004 2009 2014 2019 2024 …Combined with Consistent Growth Dividend Per Share Tangible Book Value Per Share MTB1: 6.2% CAGR Peer Median: 0.9% CAGR MTB: 8.0% CAGR Peer Median: 1.7% CAGR CAGR – TBVPS G
Slide 8: Superior Pre-Credit Earnings
2020 2021 2022 2023 2024 3Q25 YTD Superior Pre-Credit Earnings Net Interest Margin 3.16% 2.76% 3.39% 3.83% 3.58% 3.66% Efficiency Ratio (1) 56.3% 59.0% 56.6% 54.9% 56.9% 56.3% PPNR ($, Millions) (1) $2,579 $2,445 $3,471 $4,232 $3,979 $3,064 PPNR to RWA (1) 2.4% 2.3% 2.7% 2.8% 2.6% 2.6% Strong Credit
Slide 9: Solid Performance in Key Metrics against Peers
Solid Performance in Key Metrics against Peers 9 ROTA(1) 3Q25 Net Interest Margin 3Q25 Efficiency Ratio(1) 3Q25 PPNR / RWA(1) 3Q25 NCO / Loans 3Q25 Source: S&P Global Market Intelligence and company filings (1) See Appendix 1 and 2 for reconciliation of GAAP with these non-GAAP measures 1.56% MTB Pe
Slide 10: NIM Outperformance
NIM Outperformance 10 Note: (1) Taxable Equivalent NII less Net Charge-offs as a percent of Average Earning Assets Strength on both loan pricing and deposit cost… …drives NIM outperformance Loan Yield NIM Total Deposit Cost Risk Adjusted NIM1 3.7% 3.2% 2.9% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% Q1 Q2 Q3 Q4
Slide 11: Strong Overall Profitability
Strong Overall Profitability 11 NIM outperformance combined with fee income and efficiency drives profitability outperformance PPNR / RWA ROTA 2.8% 2.4% 1.9% 1.0% 2.0% 3.0% 4.0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2020 2021 2022 2023 2024 2025 1.6% 1.3% 1.0% 0.0% 0.5
Slide 12: Consistent Growth
Consistent Growth 12 Profitability outperformance also combined with consistent and strong Dividend and TBVPS growth Cumulative Dividend Per Share Growth Cumulative TBVPS Growth 36% 40% 6% 0% 10% 20% 30% 40% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2020 2021 2022 2023 202
Slide 13: Balance Sheet and Capital Strength Provides Flexibility
Balance Sheet and Capital Strength Provides Flexibility 13 (1) AOCI including unrealized gains / (losses) on AFS securities and pension-related effects. Three peers as of 6/30/2025, due to data availability Pension and Securities AOCI % of RWA(1) CET1 Ratio including AOCI(1) 0.1% (1.7%) (1.3%) (4.0)
Slide 14: M&f& Bank Corporation |
M&f& Bank Corporation | 14
Slide 15: 4Q25 Outlook
4Q25 Outlook 15 4Q25 Outlook Comments In c o m e S ta te m e n t Net Interest Income Taxable-equivalent $1.8 billion +/- • NIM of 3.70% +/- • Reflects two additional rate cuts in 4Q25 Fee Income $670 to $690 million • Continued strength in trust, mortgage banking and service charges GAAP Expense Inc
Slide 16: Our Focus on the Fundamentals
Our Focus on the Fundamentals Diversified Business Model with Fee Income Momentum Diversified Loan Portfolio with a History of Credit Outperformance Positive Recent Trends in Nonaccrual and Criticized Granular and Broad-Based Core Deposit Funding & Strong Liquidity Strong Capital and Low AOCI Impact
Slide 17: Diversified Business Model
Diversified Business Model Experienced teams provide a wide-range of credit, liquidity and capital markets solutions to meet our customer needs, delivered through a local engagement model and industry expertise on a national scale. Strategically built for the communities in which we operate. High-to
Slide 18: Swap Portfolio Details
Swap Portfolio Details 18 ▪ CF Hedges – executed $4.3B of forward-starting receive fix swaps in 2025 : weighted average start August 2026, ~3.31% ▪ FV Debt Hedges - executed $750MM forward-starting receive fix swaps in 2025: weighted average start January 2026, ~3.67% Highlights Active and Forward-S
Slide 19: Fee Income Momentum
31% 20%14% 5% 8% 7% 15% Fee Income Momentum 19 • Consistent growth in noninterest income(1) over past year; YTD25 results are up 15% from the prior YTD with growth in all fee income lines • Total noninterest income(1) is 28% of total revenue(2), which is lower than peer median for YTD25 as a result
Slide 20: Local Scale in Key Markets
Local Scale in Key Markets 20 Source: S&P Global Market Intelligence, FDIC Summary of Deposits (1) Weighted Average by County (2) Top banks and thrifts by number of branches in Northeast / Mid-Atlantic regions (CT, DC, DE, MA, MD, ME, NH, NJ, NY, PA, RI, VA, VT, WV). M&T as of 10/20/2025, excludes t
Slide 21: Local Scale Leads to Superior Deposit Franchise
0% 10% 20% 30% 40% 50% 60% 2 0 0 5 2 0 0 6 2 0 0 7 2 0 0 8 2 0 0 9 2 0 1 0 2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 8 2 0 1 9 2 0 2 0 2 0 2 1 2 0 2 2 2 0 2 3 2 0 2 4 1 Q 2 5 2 Q 2 5 3 Q 2 5 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 2 0 0 5 2 0 0 6 2 0 0 7 2 0 0 8 2 0 0 9 2 0 1 0 2
Slide 22: Diversified and Granular Deposit Base
Retail Bank $90.4B Commercial Bank $46.0B Inst. Svcs. & Wealth Mgmt. $18.5B All Other $7.7B Diversified and Granular Deposit Base • Diversified across industries and geographies • Average relationship tenure of 17 years • ~59% operating balances Average Deposits 3Q25 Institutional Services & Wealth
Slide 23: Well Diversified Loan Portfolio
Multifamily $6.5B, 5% Retail $4.3B, 3% Office $3.5B, 3% Health Services $1.6B, 1% Hotel $1.8B, 1% Industrial & Other $2.4B, 2% Construction $4.0B, 3% C&I - Owner Occ. $11.1B, 8% C&I $50.8B, 37% Cons. Real Estate $24.7B, 18% Consumer $26.4B, 19% Permanent CRE $20.1B, 15% Well Diversified Loan Portfol
Slide 24: Loans to Nondepository Financial Institutions
Loans to Nondepository Financial Institutions 24 Note: Loans to NDFIs presented above are estimates pending the filing of M&T Bank’s Call Report. (1) Peer median as of 6/30/2025 due to data availability Loans to Nondepository Financial Institutions Loan Types • M&T’s loans to NDFIs represent 8% of l
Slide 25: Superior Credit Losses Through Multiple Economic Cycles
Source: S&P Global Market Intelligence and FRY9C Note: Industry data represents all FDIC-insured institutions from the FDIC’s Quarterly Banking Profile (“QBP”). QBP data only available through 2Q25. Average, max, and range are weighted FY1990-3Q25. Superior Credit Losses Through Multiple Economic Cy
Slide 26: Credit Metrics
Credit Metrics Nonaccrual Loans Net Charge-offs Provision for Credit Losses Allowance for Loan Losses 26 $120 $160 $114 $108 $146 0.35% 0.47% 0.34% 0.32% 0.42% 3Q24 4Q24 1Q25 2Q25 3Q25 $ I N M IL L IO N S Net Charge-offs ($) Net Charge-off Ratio (%) $1,926 $1,690 $1,540 $1,573 $1,512 1.42% 1.25% 1.1
Slide 27: Criticized C&I and CRE Loans
Criticized C&I and CRE Loans • Criticized loans decreased -$584 million QoQ: • C&I increased modestly +$87 million • CRE decreased -$671 million – Permanent CRE -$626 million – Construction -$45 million • 96% of criticized accrual loans are current 27 $10.9 $9.9 $9.4 $8.4 $7.8 12.2% 11.2% 10.9% 9.7%
Slide 28: High Quality Securities Portfolio
Agency MBS $19.7B US Treasury $7.1B Agency CMBS $6.9B Municipal Bonds $2.2B Equity & Other $1.0B High Quality Securities Portfolio (1) Mortgage securities include estimated prepayment under market forward interest rates $37B Securities Portfolio Composition 9/30/2025 • Securities of $36.9B; 17% of t
Slide 29: Strong Capital Levels Compared to Peers
7.9% 8.8% 8.9% 9.2% 9.2% 9.4% 9.4% 9.5% 9.7% 9.8% 10.3% 11.1% Peer 11 Peer 10 Peer 9 Peer 8 Peer 7 Peer 6 Peer 5 Peer 4 Peer 3 Peer 2 Peer 1 MTB 6.2% 6.5% 6.8% 6.9% 7.2% 7.5% 7.7% 7.9% 8.1% 8.3% 8.6% 8.8% Peer 11 Peer 10 Peer 9 Peer 8 Peer 7 Peer 6 Peer 5 Peer 4 Peer 3 Peer 2 Peer 1 MTB Strong Capit
Slide 30: Why invest in M&T?
Why invest in M&T? • Long term focused with deeply embedded culture • Business operated to represent the best interests of all key stakeholders • Energized colleagues consistently serving our customers and communities • A safe haven for our clients as proven during turbulent times and crisis • Exper
Slide 31: Appendices
Appendices M&f& Bank Corporation | 31
Slide 32: GAAP to GAAP - Adjusted (Non-GAAP) Reconciliation
Appendix 1 Note: M&T is providing supplemental reporting of its results on a “GAAP – Adjusted” basis, from which M&T excludes the after-tax effect of certain notable items of significance. Although “GAAP – Adjusted” income as presented by M&T is not a GAAP measure, M&T’s management believes that thi
Slide 33: GAAP to Net Operating (Non-GAAP) Reconciliation
Appendix 2 Note: M&T consistently provides supplemental reporting of its results on a “net operating” or “tangible” basis, from which M&T excludes the after-tax effect of amortization of core deposit and other intangible assets (and the related goodwill, core deposit and other intangible asset balan
Slide 34: GAAP to Net Operating (Non-GAAP) Reconciliation: Efficiency Ratio
Appendix 2 GAAP to Net Operating (Non-GAAP) Reconciliation 34 In millions 2020 2021 2022 2023 2024 3Q YTD 3Q24 2Q25 3Q25 Efficiency ratio Noninterest expense $3,385 $3,612 $5,050 $5,379 $5,359 $4,114 $1,303 $1,336 $1,363 Less: Amortization of core deposit and other intangible assets 15 10 56 62 53 3
Slide 35: GAAP to Tangible (Non-GAAP) Reconciliation
Appendix 2 GAAP to Tangible (Non-GAAP) Reconciliation 35 In millions 2020 2021 2022 2023 2024 3Q YTD 3Q24 2Q25 3Q25 Average assets Average assets $135,480 $152,669 $190,252 $205,397 $211,220 $209,889 $209,581 $210,261 $211,053 Goodwill (4,593) (4,593) (7,537) (8,473) (8,465) (8,465) (8,465) (8,465)
Slide 36: GAAP to Tangible (Non-GAAP) Reconciliation
Appendix 2 GAAP to Tangible (Non-GAAP) Reconciliation 36 In millions 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 9/30/2024 6/30/2025 9/30/2025 Total assets Total assets $142,601 $155,107 $200,730 $208,264 $208,105 $211,785 $211,584 $211,277 Goodwill (4,593) (4,593) (8,490) (8,465) (8,465)
Slide 37: Wilmington Trust – Tricolor Update
Wilmington Trust – Tricolor Update 37 Build our New England ad Long Island Markets Make our Systems and Processes Resilient and Scalable Continue to Develop and Scale our Capability to Manage Risk • On September 10, 2025, Tricolor Holdings, LLC (Tricolor), a subprime auto lender and used vehicle ret
Slide 38: M&T Peer Group
M&T Peer Group PNC Financial Services Group, Inc.Comerica Incorporated Regions Financial CorporationFifth Third Bancorp Huntington Bancshares Incorporated Zions Bancorporation, NAKeyCorp Truist Financial Corporation U.S. Bancorp M&T Bank CorporationCitizens Financial Group, Inc. First Horizon Nation