M&t Bank Corporation · NYSE:MTB
M&t Bank — Q3 2026 Earnings Presentation
29 slides from M&t Bank's earnings presentation, Oct 16, 2026
Slide 1: Earnings Results 3rd Quarter 2026
Earnings Results 3rd Quarter 2026 October 16, 2026
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: We are M&T Bank
We are M&T Bank Purpose Vision To make a difference in people’s lives To be the bank invited into homes, by knowing them, growing with them and businesses and communities, connecting them with everything they need to by earning trust and deepening relationships with thrive. every interaction. We are
Slide 4: 2026 Enterprise Priorities
2026 Enterprise Priorities Operational Excellence Teaming for Growth Enterprise execution with clarity, consistency, control and scalable strength Alignment and integration across markets, lines of business and platform capabilities will accelerate regional bank growth Objectives Objectives • Build
Slide 5: Key Awards and Accolades
Key Awards and Accolades Received #1 Ranking among U.S. Companies Michael Wisler, CIO, M&T Bank Named to Inaugural Pacesetters List Received 13 “Best Bank” Awards across Small Business and Middle-Market Categories Jennifer Warren, CEO, Wilmington Trust Finalist, Executive Excellence Award 5
Slide 6: Financial Results
M&&Bank Corporation! &
Slide 7: Third Quarter 2026 Highlights
Third Quarter 2026 Highlights Disciplined Focus on Returns, Consistent Balance Sheet Growth and Earnings, Strong NIM Strong and Consistent Earnings $5.04 $775 million Diluted Earnings Per Share Net Income Sustained Attractive Returns 1.47% 17.29% Return on Tangible Assets(1) Return on Tangible Commo
Slide 8: Third Quarter 2026 Earnings Highlights
Third Quarter 2026 Earnings Highlights GAAP Notable items ($ in millions, except per share) 3Q26 2Q26 3Q25 ($ in millions, except per share) 3Q26 2Q26 3Q25 Revenues $2,536 $2,532 $2,513 Amt(1) EPS Amt(1) EPS Amt(1) EPS Earnout payment related to Noninterest Expense 1,393 1,349 1,363 — — — — $28 $0.1
Slide 9: Third Quarter 2026 Earnings Highlights
Third Quarter 2026 Earnings Highlights Net Operating Results (Non-GAAP)(1) ($ in millions, except per share) 3Q26 2Q26 3Q25 Net Operating Income $780 $823 $798 Diluted Net Operating EPS 5.08 5.35 4.87 Efficiency Ratio 54.4% 52.8% 53.6% Net Operating ROTA 1.47 1.59 1.56 Net Operating ROTCE 17.29 18.5
Slide 10: Net Interest Income & Net Interest Margin
Net Interest Income(1) & Net Interest Margin Stable Net Interest Income Trends with Strong NIM QoQ Drivers $1,773 $1,790 $1,804 $1,805 $1,763 Taxable-equivalent net interest income(1) increased nominally QoQ: – One additional day and growth in average loans – Lower interest income on nonaccrual loan
Slide 11: Balance Sheet – Overview
Balance Sheet – Overview Disciplined Balance Sheet Growth and Strong Capital Levels Supported by Capital Generation and Preservation Change 3Q26 vs Average Balances, $ in billions, except per share 3Q26 2Q26 3Q25 2Q26 3Q25 Interest-bearing Deposits at Banks $14.2 $15.1 $17.7 -6% -20% Investment Secu
Slide 12: Balance Sheet – Average Loans
Balance Sheet – Average Loans Broad-based Loan Growth Across Portfolios $135.9 $136.5 $137.4 $140.7 $143.3 QoQ Drivers $26.1 $26.5 $26.3 $26.7 $27.3 Average loans increased +$2.6 billion QoQ: – Consumer loans increased +2% (+$634 million) $25.2 $24.1 $24.3 $24.5 $24.9 – Growth in the recreational fi
Slide 13: Balance Sheet – Securities and Invested Cash
Balance Sheet – Securities and Invested Cash Strong Liquidity, Disciplined Portfolio Management and Continued Benefit from Repricing Average Investment Securities and Yield Securities and Invested Cash at 9/30/26(2) $38.7 $38.6 $37.8 $36.6 $36.7 HTM Securities Other 39% Securities 2% Interest- $52.2
Slide 14: Balance Sheet – Average Deposits
Balance Sheet – Average Deposits Strong Deposit Growth to Fund Growing Loan Portfolio 3Q25 4Q25 1Q26 2Q26 3Q26 QoQ Drivers Total deposit cost 1.72% 1.59% 1.43% 1.42% 1.52% Average deposits increased +$3.3 billion QoQ: Interest-bearing deposit cost 2.36% 2.17% 1.97% 1.95% 2.05% – Time deposits increa
Slide 15: Income Statement – Noninterest Income
Income Statement – Noninterest Income Stable Broad-Based Fee Income and Strong Revenue Diversification Change 3Q26 vs $ in millions 3Q26 2Q26 3Q25 2Q26 3Q25 $752 $740 $743 Trust and Investment Services income $230 $235 $217 -2% 6% $696 $689 Mortgage Banking Revenues 152 127 147 19 3 $ IN MILLIONS Se
Slide 16: Income Statement – Noninterest Expenses
Income Statement – Noninterest Expenses Continued Expense Discipline $1,438 Change 3Q26 vs $1,363 $1,379 $1,349 $1,393 $ in millions 3Q26 2Q26 3Q25 2Q26 3Q25 $1,429 $1,386 $1,353 $1,369 $1,342 Salaries & Employee Benefits(2) $832 $826 $833 1% —% Outside Data Proc & Software 173 154 138 12 25 $ IN MI
Slide 17: Credit
Credit Sound YOY Credit Trends with Stable Loss Expectations Net Charge-offs Provision for Credit Losses $185 $146 $125 $140 $135 $127 $ IN MILLIONS $125 $15 $120 $5 $ IN MILLIONS $140 $105 $15 $125 $130 0.54% $120 $110 0.42% $80 0.35% 0.31% 0.23% 3Q25 4Q25 1Q26 2Q26 3Q26 -$15 Net Charge-offs ($) Ne
Slide 18: Criticized C&I and CRE Loans
Criticized C&I and CRE Loans $7.8 Criticized loans increased +$245 million QoQ: $7.3 – C&I increased +$213 million $6.6 – Predominantly driven by a loan to an auto $6.1 leasing company $5.9 – CRE increased +$32 million – Permanent CRE +$102 million $ IN BILLIONS – Construction -$70 million – 97% of
Slide 19: Capital
Capital Solid Capital Foundation Supported by Strong Capital Generation and Management (1) (2) CET1 Capital Tangible Book Value Per Share $115.31 $117.45 $115.96 $117.41 $115.88 10.99% 10.84% 10.33% 10.19% 10.16% 3Q25 4Q25 1Q26 2Q26 3Q26 3Q25 4Q25 1Q26 2Q26 3Q26 QoQ Drivers Basel III - June 2026 Pro
Slide 20: AI Pathways Enhance the Way We Work
AI Pathways Enhance the Way We Work Scale AI-tools adoption to drive productivity via training, broader access, practitioner communities and Pathway 1: agentic capabilities • Approximately 75% of employee base with access to AI tools Enterprise Productivity • More than 150 employee-developed AI solu
Slide 21: AI Enabled Focus on the Fundamentals
AI Enabled Focus on the Fundamentals Faster, more personalized customer interactions Customer • Personalized financial insights help customers make smarter financial decisions Experience • Predictive credit insights enable earlier engagement and more tailored support for clients • Real-time agent gu
Slide 22: 4Q26 Outlook
4Q26 Outlook 4Q26 Outlook Comments Net Interest Income • 4Q NIM in the mid-3.60's $1.83 to $1.85 billion Taxable-equivalent • Reflects one additional rate increase in 4Q Income Statement Fee Income $710 to $730 million • Stable to modest growth in most fee income categories GAAP Expense $1.39 to $1.
Slide 23: 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 24: Appendix
Appendix M&&Bank Corporation| 24
Slide 25: GAAP to Net Operating (Non-GAAP) Reconciliation
Appendix GAAP to Net Operating (Non-GAAP) Reconciliation In millions, except per share 3Q25 4Q25 1Q26 2Q26 3Q26 Net income Net income $792 $759 $664 $818 $775 Amortization of core deposits and other intangible assets (1) 6 8 7 5 5 Net operating income $798 $767 $671 $823 $780 Earnings per common sha
Slide 26: GAAP to Net Operating (Non-GAAP) Reconciliation
Appendix GAAP to Net Operating (Non-GAAP) Reconciliation In millions 3Q25 4Q25 1Q26 2Q26 3Q26 Other expense Other expense $1,363 $1,379 $1,438 $1,349 $1,393 Amortization of core deposit and other intangible assets (10) (10) (9) (7) (7) Noninterest operating expense $1,353 $1,369 $1,429 $1,342 $1,386
Slide 27: GAAP to Tangible (Non-GAAP) Reconciliation
Appendix GAAP to Tangible (Non-GAAP) Reconciliation In millions 3Q25 4Q25 1Q26 2Q26 3Q26 Average assets Average assets $211,053 $212,891 $213,828 $216,532 $218,860 Goodwill (8,465) (8,465) (8,465) (8,465) (8,465) Core deposit and other intangible assets (79) (69) (59) (51) (45) Deferred taxes 24 22
Slide 28: GAAP to Tangible (Non-GAAP) Reconciliation
Appendix GAAP to Tangible (Non-GAAP) Reconciliation In millions 9/30/2025 12/31/2025 3/31/2026 6/30/2026 9/30/2026 Total assets Total assets $211,277 $213,510 $214,736 $219,261 $220,510 Goodwill (8,465) (8,465) (8,465) (8,465) (8,465) Core deposit and other intangible assets (74) (64) (55) (48) (41)
Slide 29: Reconciliation of Adjusted Metrics
Appendix Reconciliation of Adjusted Metrics In millions 3Q25 4Q25 1Q26 2Q26 3Q26 Other income - Adjusted Other income $752 $696 Earnout payment related to 2023 sale of CIT business (28) — Other income - Adjusted $724 $696 Noninterest operating expense - Adjusted Noninterest operating expense $1,353