M&t Bank Corporation · NYSE:MTB
M&t Bank — Q2 2026 Earnings Presentation
27 slides from M&t Bank's earnings presentation, Jul 15, 2026
Slide 1: Earnings Results 2nd Quarter 2026
Earnings Results 2nd Quarter 2026 July 15, 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 Deliver industry-leading service, scale and value through intelligent, Alignment and integration across markets, lines of business and platform simplified operations that empower the businesses and clients we support capabilities w
Slide 5: Key Awards and Accolades
Key Awards and Accolades 2025 All-America Executive Team Received #1 Ranking among Large Cap Banks and Placed in the Top 10 across All U.S. Banks Received #1 Ranking among U.S. Companies The Most Powerful Women in Banking’s Top Teams: Wilmington Trust Jennifer Warren, CEO, Wilmington Trust The Most
Slide 6: Financial Results
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Slide 7: Second Quarter 2026 Earnings Highlights
Second Quarter 2026 Earnings Highlights GAAP Notable items ($ in millions, except per share) 2Q26 1Q26 2Q25 ($ in millions, except per share) 2Q26 1Q26 2Q25 Revenues $2,532 $2,441 $2,396 Amt(2) EPS Amt(2) EPS Amt(2) EPS Noninterest Expense 1,349 1,438 1,336 Premium amortization for — — — — ($17) ($0
Slide 8: Second Quarter 2026 Earnings Highlights
Second Quarter 2026 Earnings Highlights Net Operating Results (Non-GAAP)(1) ($ in millions, except per share) 2Q26 1Q26 2Q25 Net Operating Income $823 $671 $724 Diluted Net Operating EPS 5.35 4.18 4.28 Efficiency Ratio 52.8% 58.3% 55.2% Net Operating ROTA 1.59 1.33 1.44 Net Operating ROTCE 18.57 14.
Slide 9: Net Interest Income & Net Interest Margin
Net Interest Income(1) & Net Interest Margin QoQ Drivers $1,790 $1,804 • Taxable-equivalent net interest income(1) increased $1,722 $1,773 $1,763 +$41 million or +2% QoQ – Higher nonaccrual interest – One additional day – Higher average earning assets, partially offset by higher funding levels $ IN
Slide 10: Balance Sheet – Overview
Balance Sheet – Overview Change 2Q26 vs Average Balances, $ in billions, except per share 2Q26 1Q26 2Q25 1Q26 2Q25 Interest-bearing Deposits at Banks $15.1 $16.2 $19.7 -7% -24% Investment Securities 38.7 37.8 35.3 2 10 Commercial and Industrial (“C&I”) 66.0 63.8 61.0 4 8 Commercial Real Estate (“CRE
Slide 11: Balance Sheet – Average Loans
Balance Sheet – Average Loans $135.4 $136.5 $137.6 $138.4 $141.4 QoQ Drivers $26.1 $26.5 $26.3 $26.7 Average loans increased +$3.0 billion QoQ: $25.4 • Consumer loans increased +2% (+$413 million) $23.7 $24.4 $24.8 $24.8 $25.1 • RRE loans increased +1% (+$269 million) • CRE loans grew +$57 million $
Slide 12: Balance Sheet – Securities and Invested Cash
Balance Sheet – Securities and Invested Cash Average Investment Securities and Securities and Invested Cash at 6/30/26 Yield⁽¹⁾ HTM Securities Other 22% $38.7 Securities $37.8 $36.6 $36.7 2% $35.3 2Q25 Adjusted Yield was Interest- bearing $53.9B 4.02%(1)(2) deposits TOTAL $ IN BILLIONS at banks 4.15
Slide 13: Balance Sheet – Average Deposits
Balance Sheet – Average Deposits 2Q25 3Q25 4Q25 1Q26 2Q26 Total deposit cost(1) QoQ Drivers 1.73% 1.72% 1.59% 1.43% 1.42% Interest-bearing deposit cost(1) Average deposits decreased -$652 million QoQ: 2.39% 2.36% 2.17% 1.97% 1.95% • Interest-bearing deposit cost decreased -2 bps $163.3 $162.6 $164.9
Slide 14: Income Statement – Noninterest Income
Income Statement – Noninterest Income $752 $740 $683 $696 $689 Change 2Q26 vs $ in millions 2Q26 1Q26 2Q25 1Q26 2Q25 $ IN MILLIONS Mortgage Banking Revenues $127 $127 $130 —% -2% Service Charges on Deposits 144 139 137 4 4 Trust Income 197 183 182 8 9 Brokerage Services 35 35 31 2 13 Non-hedge Deriv
Slide 15: Income Statement – Noninterest Expenses
Income Statement – Noninterest Expenses $1,438 Change 2Q26 vs $1,363 $1,379 $1,349 $1,336 $ in millions 2Q26 1Q26 2Q25 1Q26 2Q25 $1,429 $1,327 $1,353 $1,369 $1,342 Salaries & Employee Benefits(2) $826 $914 $813 -10% 2% Equipment & Net Occupancy 129 133 130 -2 — $ IN MILLIONS Outside Data Proc & Soft
Slide 16: Credit
Credit Net Charge-offs Provision for Credit Losses $125 $140 $185 $125 $125 $120 $140 $15 $20 $15 $ IN MILLIONS $146 $125 $120 $ IN MILLIONS $105 $110 $108 0.54% $105 0.42% 0.32% $80 0.31% 0.23% -$15 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 Net Charge-offs ($) Net Charge-off Ratio (%) Provi
Slide 17: Criticized C&I and CRE Loans
Criticized C&I and CRE Loans Criticized loans decreased -$700 million QoQ: • C&I decreased -$110 million $8.4 • CRE decreased -$590 million $7.8 – Permanent CRE -$435 million $7.3 – Construction -$155 million $6.6 $ IN BILLIONS $5.9 • 94% of criticized accrual loans are current 9.7% 9.0% 8.3% 7.4% 6
Slide 18: Capital
Capital CET1(1) TBVPS(2) $115.31 $117.45 $115.96 $117.41 $112.48 10.99% 10.99% 10.84% 10.33% 10.19% 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 QoQ Drivers Basel III - June 2026 Proposal • CET1 capital ratio decreased to 10.19%(1) at the end of 2Q26 • CET1 capital ratio at the end of 1Q26 woul
Slide 19: 2026 Outlook
2026 Outlook 2026 Outlook Comments Net Interest Income • Bottom half of the range for NII translates to NIM in the high 3.60s $7.2 to $7.35 billion Taxable-equivalent • Range dependent on loan growth, deposit trends and shape of the yield curve Income Statement • Reflects broad based strength in fee
Slide 20: 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 21: Appendix
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Slide 22: GAAP to Net Operating (Non-GAAP) Reconciliation
Appendix GAAP to Net Operating (Non-GAAP) Reconciliation In millions, except per share 2Q25 3Q25 4Q25 1Q26 2Q26 Net income Net income $716 $792 $759 $664 $818 Amortization of core deposits and other intangible assets (1) 8 6 8 7 5 Net operating income $724 $798 $767 $671 $823 Earnings per common sha
Slide 23: GAAP to Net Operating (Non-GAAP) Reconciliation
Appendix GAAP to Net Operating (Non-GAAP) Reconciliation In millions 2Q25 3Q25 4Q25 1Q26 2Q26 Other expense Other expense $1,336 $1,363 $1,379 $1,438 $1,349 Amortization of core deposit and other intangible assets (9) (10) (10) (9) (7) Noninterest operating expense $1,327 $1,353 $1,369 $1,429 $1,342
Slide 24: GAAP to Tangible (Non-GAAP) Reconciliation
Appendix GAAP to Tangible (Non-GAAP) Reconciliation In millions 2Q25 3Q25 4Q25 1Q26 2Q26 Average assets Average assets $210,261 $211,053 $212,891 $213,828 $216,532 Goodwill (8,465) (8,465) (8,465) (8,465) (8,465) Core deposit and other intangible assets (89) (79) (69) (59) (51) Deferred taxes 26 24
Slide 25: GAAP to Tangible (Non-GAAP) Reconciliation
Appendix GAAP to Tangible (Non-GAAP) Reconciliation In millions 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 Total assets Total assets $211,584 $211,277 $213,510 $214,736 $219,261 Goodwill (8,465) (8,465) (8,465) (8,465) (8,465) Core deposit and other intangible assets (84) (74) (64) (55) (48)
Slide 26: Reconciliation of Adjusted Metrics
Appendix Reconciliation of Adjusted Metrics In millions, except per share 2Q25 3Q25 4Q25 1Q26 2Q26 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 27: Reconciliation of Adjusted Metrics
Appendix Reconciliation of Adjusted Metrics In millions 2Q25 3Q25 4Q25 1Q26 2Q26 Other income - Adjusted Other income $683 $752 $696 Gain on sale of out-of-footprint loan portfolio (15) — — Gain on sale of institutional services subsidiary (10) — — Earnout payment related to 2023 sale of CIT busines