M&t Bank Corporation · NYSE:MTB
M&t Bank — Q1 2026 Earnings Presentation
29 slides from M&t Bank's earnings presentation, Apr 15, 2026
Slide 1: Earnings Results 1st Quarter 2026
Earnings Results 1st Quarter 2026 April 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: Together, We are M&T Bank
Together, We are M&T Bank We are committed to Our Customers Our Communities Our Colleagues Our Shareholders Delivering the people, M&T is a We empower our We deliver reliable results capital and ideas that bank for communities, employees to be the best anchored by a strong balance empower our custom
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 Received 13 “Best Bank” Awards across Small • Best CEO – Rene Jones Business and Middle-Market Categories • Best
Slide 6: Financial Results
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Slide 7: First Quarter 2026 Earnings Highlights
First Quarter 2026 Earnings Highlights GAAP Notable items ($ in millions, except per share) 1Q26 4Q25 1Q25 ($ in millions, except per share) 1Q26 4Q25 1Q25 Amt(1) EPS Amt(1) EPS Amt(1) EPS Revenues $2,441 $2,475 $2,306 FDIC Special Assessment $— $— $29 $0.14 $— $— Noninterest Expense 1,438 1,379 1,4
Slide 8: First Quarter 2026 Earnings Highlights
First Quarter 2026 Earnings Highlights Net Operating Results (Non-GAAP)(1) ($ in millions, except per share) 1Q26 4Q25 1Q25 Net Operating Income $671 $767 $594 Diluted Net Operating EPS 4.18 4.72 3.38 Efficiency Ratio 58.3% 55.1% 60.5% Net Operating ROTA 1.33 1.49 1.21 Net Operating ROTCE 14.51 16.2
Slide 9: Net Interest Income & Net Interest Margin
Net Interest Income(1) & Net Interest Margin QoQ Drivers $1,773 $1,790 • Taxable-equivalent net interest income(1) decreased $1,707 $1,722 $1,763 -$27 million or -2% QoQ – Two less calendar days in the recent quarter • Net interest margin rose +2 bps QoQ to 3.71% – Net higher asset-liability spread
Slide 10: Balance Sheet – Overview
Balance Sheet – Overview Change 1Q26 vs Average Balances, $ in billions, except per share 1Q26 4Q25 1Q25 4Q25 1Q25 Interest-bearing Deposits at Banks $16.2 $18.0 $19.7 -10% -18% Investment Securities 37.8 36.7 34.5 3 10 Commercial and Industrial (“C&I”) 63.8 62.2 61.0 2 5 Commercial Real Estate (“CR
Slide 11: Balance Sheet – Average Loans
Balance Sheet – Average Loans $136.5 $137.6 $138.4 $134.8 $135.4 QoQ Drivers $26.5 $26.3 $24.3 $25.4 $26.1 Average loans increased +$823 million QoQ: • C&I loans grew +2% (+$1.5 billion) reflecting growth in $23.2 $23.7 $24.4 $24.8 $24.8 middle market, business banking and several of our specialty b
Slide 12: Balance Sheet – Securities and Invested Cash
Balance Sheet – Securities and Invested Cash Average Investment Securities and Yield Securities and Invested Cash at 3/31/26 $37.8 HTM $36.6 $36.7 Securities $35.3 $34.5 23% Other Securities 2% 2Q25 Adjusted Yield was 4.03%(1) Interest- $53.1B $ IN BILLIONS bearing 4.26% deposits TOTAL 4.13% 4.17% 4
Slide 13: Balance Sheet – Average Deposits
Balance Sheet – Average Deposits 1Q25 2Q25 3Q25 4Q25 1Q26 Total deposit cost QoQ Drivers 1.70% 1.72% 1.72% 1.59% 1.43% Interest-bearing deposit cost Average deposits decreased -$789 million 2.37% 2.38% 2.36% 2.17% 1.96% QoQ: $161.2 $163.4 $162.7 $165.1 $164.3 • Interest-bearing deposit cost decrease
Slide 14: Income Statement – Noninterest Income
Income Statement – Noninterest Income $752 $683 $696 $689 Change 1Q26 vs $ in millions 1Q26 4Q25 1Q25 4Q25 1Q25 $611 $ IN MILLIONS Mortgage Banking Revenues $127 $155 $118 -18% 8% Service Charges on Deposits 139 140 133 -1 5 Trust Income 183 184 177 -1 3 Brokerage Services 35 34 32 3 9 Non-hedge Der
Slide 15: Income Statement – Noninterest Expenses
Income Statement – Noninterest Expenses $1,415 $1,438 Change 1Q26 vs $1,363 $1,379 $1,336 $ in millions 1Q26 4Q25 1Q25 4Q25 1Q25 $1,402 $1,429 $1,327 $1,353 $1,369 Salaries & Employee Benefits(2) $914 $809 $887 13% 3% Equipment & Net Occupancy 133 134 132 — — $ IN MILLIONS Outside Data Proc & Softwa
Slide 16: Credit
Credit Net Charge-offs Provision for Credit Losses $125 $140 $130 $125 $125 $185 $15 $140 $130 $20 $15 $ IN MILLIONS $125 $ IN MILLIONS $146 $110 $105 $114 $108 0.54% $105 0.42% 0.34% 0.32% 0.31% -$15 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 Net Charge-offs ($) Net Charge-off Ratio (%) Prov
Slide 17: Criticized C&I and CRE Loans
Criticized C&I and CRE Loans Criticized loans decreased -$706 million QoQ: $9.4 • C&I decreased -$306 million $8.4 • CRE decreased -$400 million $7.8 – Permanent CRE -$140 million $7.3 – Construction -$260 million $6.6 $ IN BILLIONS • 96% of criticized accrual loans are current 10.9% 9.7% 9.0% 8.3%
Slide 18: Loans to Nondepository Financial Institutions
Loans to Nondepository Financial Institutions Nondepository Financial Institutions(1) Loan Types Portfolio Characteristics $13.4 billion 10% of Total Other loans to NDFIs Loans All Other (e.g. insurance, broker/dealer) $0.8B • M&T's loans to NDFIs represent 10% of $0.6B loans, compared to peer media
Slide 19: Loans to Business Credit Intermediaries
Loans to Business Credit Intermediaries Business Credit Intermediaries(1) Portfolio Characteristics $2.0 billion 15% of NDFI Obligor Types • Comprised of non-bank platforms that Loans originate and hold business credit using sponsored capital and wholesale funding $0.3B Other Business Credit Interme
Slide 20: Capital
Capital CET1(1) TBVPS(2) $115.31 $117.45 $115.96 11.50% $111.13 $112.48 10.99% 10.99% 10.84% 10.33% 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 QoQ Drivers Basel III - March 2026 Proposal • CET1 capital ratio decreased to 10.33%(1) at the end of 1Q26 • CET1 capital ratio at the end of 4Q25 wou
Slide 21: 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 • High end of the range Fee Income $2
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 1Q25 2Q25 3Q25 4Q25 1Q26 Net income Net income $584 $716 $792 $759 $664 Amortization of core deposits and other intangible assets (1) 10 8 6 8 7 Net operating income $594 $724 $798 $767 $671 Earnings per common sh
Slide 25: GAAP to Net Operating (Non-GAAP) Reconciliation
Appendix GAAP to Net Operating (Non-GAAP) Reconciliation In millions 1Q25 2Q25 3Q25 4Q25 1Q26 Other expense Other expense $1,415 $1,336 $1,363 $1,379 $1,438 Amortization of core deposit and other intangible assets (13) (9) (10) (10) (9) Noninterest operating expense $1,402 $1,327 $1,353 $1,369 $1,42
Slide 26: GAAP to Tangible (Non-GAAP) Reconciliation
Appendix GAAP to Tangible (Non-GAAP) Reconciliation In millions 1Q25 2Q25 3Q25 4Q25 1Q26 Average assets Average assets $208,321 $210,261 $211,053 $212,891 $213,828 Goodwill (8,465) (8,465) (8,465) (8,465) (8,465) Core deposit and other intangible assets (92) (89) (79) (69) (59) Deferred taxes 27 26
Slide 27: GAAP to Tangible (Non-GAAP) Reconciliation
Appendix GAAP to Tangible (Non-GAAP) Reconciliation In millions 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 Total assets Total assets $210,321 $211,584 $211,277 $213,510 $214,736 Goodwill (8,465) (8,465) (8,465) (8,465) (8,465) Core deposit and other intangible assets (93) (84) (74) (64) (55)
Slide 28: Reconciliation of Adjusted Metrics
Appendix Reconciliation of Adjusted Metrics In millions, except per share 1Q25 2Q25 3Q25 4Q25 1Q26 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 1Q25 2Q25 3Q25 4Q25 1Q26 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