M&t Bank Corporation · NYSE:MTB
M&t Bank — Investor Presentation (September 2026)
20 slides from M&t Bank's investor presentation, September 2026
Slide 1: Investor Update 3rd Quarter 2026
Investor Update 3rd Quarter 2026 SEPTEMBER 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 the
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: Strong First Half 2026 Results
Strong First Half 2026 Results Earnings Momentum Return Focused 16.5% $9.44 (+25% YoY) $1,482MM (+14% YoY) 1.46% Return on Tangible Common Diluted Earnings Per Share Net Income Return on Tangible Assets Equity Strongest Average Quarterly Loan Growth Since 2012 Profitability Discipline 56% 2Q Avg Loa
Slide 5: Solid Performance in Key Metrics against Peers
Solid Performance in Key Metrics against Peers ROTA(1) Net Interest Margin Efficiency Ratio(1) PPNR / RWA(1) NCO / Loans 1H26 1H26 1H26 1H26 1H26 Peer 1 MTB 3.70% Peer 1 MTB 2.7% Peer 1 Peer 2 Peer 1 MTB 55.5% Peer 1 Peer 2 MTB 1.46% Peer 2 Peer 2 Peer 2 Peer 3 Peer 3 Peer 3 Peer 3 Peer 3 Peer 4 Pee
Slide 6: Capital Flexibility
Capital Flexibility 11% 8% 4% 3.8% to 2.7% Increase in Quarterly Dividend in Outstanding Shares TBVPS YoY Growth since Decline in SCB 3Q25 Repurchased in Last 12 Months 6/30/2025 Tangible Common Equity / CET1 Ratio incl. AOCI(1) Tangible Assets Highlights 6/30/2026 6/30/2026 • CET1 capital ratio dec
Slide 7: Strong Returns
Strong Returns Consistently strong returns – ROTA in top quartile ROTCE in top quartile when normalizing peer equity for AOCI Recent performance above 1.25% ROTA; expect outperformance to Expect to reach 17% ROTCE in 2027 as CET1 trends to 10%; does not continue include incremental impact of March C
Slide 8: Strong Loan Growth
Strong Loan Growth Grew average loans, excluding CRE, by 6% in both 2024 and 2025; demonstrating M&T’s diversified portfolio Average loans grew 3% from 4Q25, including CRE inflection during the second quarter Average Loans ($, B) $141.4 $134.7 $136.1 $137.6 $132.7 $23.6 $25.0 $24.1 CRE $30.2 $117.8
Slide 9: Solid Fee Growth
Solid Fee Growth YoY YTD vs. Prior • Solid growth in all fee categories • Other Revenue growth reflects two Bayview distributions in the first half of 2026 • Mortgage aided by residential subservicing and commercial originations • Trust income growth from both Institutional Services and Wealth, incl
Slide 10: Continued Asset Quality Improvement
Continued Asset Quality Improvement Consistent improvement in credit quality; 44% reduction in nonaccrual and 53% reduction in criticized loans since 2023 Nonaccrual Loans % of Total Loans at lowest level since 2007 Nonaccrual Loans ($, MM) Criticized Commercial Loans ($, MM) $12,579 $2,166 -21% -22
Slide 11: 2026 Outlook
2026 Outlook 2026 Outlook Comments Net Interest Income $7.2 to $7.35 billion • Bottom half of the range Taxable-equivalent • Full-year NIM in the high 3.60s – implies mid 3.60s for second half of the year Income Statement • High end of the range Fee Income $2.8 to $2.85 billion • Reflects broad base
Slide 12: 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 Organization Sustainable Shareholder Business Model Returns • Long term focused with deeply • Experienced and seasoned • 15-17% ROTCE(1) embedded
Slide 13: Enterprise Priorities
Enterprise Priorities Enterprise Priorities Operational Excellence Teaming for Growth Enterprise execution with clarity, consistency, control, and scalable Alignment and integration across markets, lines of business, and platform strength capabilities will accelerate regional bank growth. Objectives
Slide 14: Appendix
Appendix M&f& Bank Corporation | +4
Slide 15: GAAP to GAAP - Adjusted (Non-GAAP) Reconciliation
Appendix GAAP to GAAP - Adjusted (Non-GAAP) Reconciliation In millions 2023 2024 2025 1H26 2Q26 Revenues Net interest income - GAAP $7,115 $6,852 $6,948 $3,544 $1,792 Total other income - GAAP 2,528 2,427 2,742 1,429 740 Subtotal 9,643 9,279 9,690 4,973 2,532 Premium amortization for acquired securi
Slide 16: GAAP to Net Operating (Non-GAAP) Reconciliation
Appendix GAAP to Net Operating (Non-GAAP) Reconciliation In millions 2023 2024 2025 1H26 2Q26 Net income Net income - GAAP $2,741 $2,588 $2,851 $1,482 $818 Amortization of core deposit and other intangible assets (1) 48 42 32 12 5 Net operating income 2,789 2,630 2,883 1,494 823 Preferred stock divi
Slide 17: GAAP to Net Operating (Non-GAAP) Reconciliation
Appendix GAAP to Net Operating (Non-GAAP) Reconciliation In millions 2023 2024 2025 1H26 2Q26 Efficiency ratio Noninterest expense $5,379 $5,359 $5,493 $2,787 $1,349 Less: Amortization of core deposit and other intangible assets 62 53 42 16 7 Noninterest operating expense $5,317 $5,306 $5,451 $2,771
Slide 18: GAAP to Tangible (Non-GAAP) Reconciliation
Appendix GAAP to Tangible (Non-GAAP) Reconciliation In millions 2023 2024 2025 1H26 2Q26 Average assets Average assets $205,397 $211,220 $210,645 $215,186 $216,532 Goodwill (8,473) (8,465) (8,465) (8,465) (8,465) Core deposit and other intangible assets (177) (120) (82) (55) (51) Deferred taxes 44 3
Slide 19: GAAP to Tangible (Non-GAAP) Reconciliation
Appendix GAAP to Tangible (Non-GAAP) Reconciliation In millions 12/31/2023 12/31/2024 12/31/2025 6/30/2026 Total assets Total assets $208,264 $208,105 $213,510 $219,261 Goodwill (8,465) (8,465) (8,465) (8,465) Core deposit and other intangible assets (147) (94) (64) (48) Deferred taxes 37 28 20 17 T
Slide 20: M&T Peer Group
M&T Peer Group Citizens Financial Group, Inc. M&T Bank Corporation Fifth Third Bancorp Pinnacle Financial Partners, Inc. First Citizens BancShares, Inc. PNC Financial Services Group, Inc. First Horizon National Corporation Regions Financial Corporation Huntington Bancshares Incorporated Truist Finan