MTB

EX-99.1

2 ex991release3q26.htm

EX-99.1

Document

Exhibit 99.1

News Release

One M&T Plaza, Buffalo, NY 14203October 16, 2026

M&T Bank Corporation (NYSE:MTB) announces third quarter 2026 results

M&T Bank Corporation ("M&T" or "the Company") reports quarterly net income of $775 million or $5.04 of diluted earnings per common share.

(Dollars in millions, except per share data)3Q262Q263Q25

Earnings Highlights

Net interest income$1,793 $1,792 $1,761

Taxable-equivalent adjustment12 12 12

Net interest income - taxable-equivalent1,805 1,804 1,773

Provision for credit losses135 120 125

Noninterest income743 740 752

Noninterest expense1,393 1,349 1,363

Net income775 818 792

Net income available to common shareholders - diluted732 781 754

Diluted earnings per common share5.04 5.32 4.82

Return on average assets - annualized1.40 %1.51 %1.49 %

Return on average common shareholders' equity - annualized11.44 12.30 11.45

Average Balance Sheet

Total assets$218,860 $216,532 $211,053

Interest-bearing deposits at banks14,209 15,061 17,739

Investment securities38,552 38,728 36,559

Loans143,296 140,650 135,890

Deposits166,777 163,524 162,576

Borrowings19,225 20,794 15,633

Selected Ratios

(Amounts expressed as a percent, except per share data)

Net interest margin3.65 %3.70 %3.69 %

Efficiency ratio (1)54.4 52.8 53.6

Net charge-offs to average total loans - annualized.35 .23 .42

Allowance for loan losses to total loans1.51 1.53 1.59

Nonaccrual loans to total loans.90 .85 1.11

Common equity Tier 1 ("CET1") capital ratio (2)10.16 10.19 10.99

Common shareholders' equity per share$174.95 $176.03 $170.43

(1) A reconciliation of non-GAAP measures is included in the tables that accompany this release.

(2) CET1 capital ratio at September 30, 2026 is estimated.

Financial Highlights

•Taxable-equivalent net interest income increased nominally in the recent quarter as compared with the second quarter of 2026 reflecting an additional day, partially offset by lower interest income on nonaccrual loans.

•Average loans grew $2.6 billion in the recent quarter reflecting higher average commercial real estate loan balances of $1.6 billion, consumer loan balances of $634 million and residential real estate loan balances of $367 million.

•Higher noninterest income in the recent quarter reflects an increase in residential mortgage banking revenues, partially offset by a decrease in capital markets and advisory revenues and a lower distribution from M&T's investment in Bayview Lending Group LLC ("BLG").

•Noninterest expense reflects increases in outside data processing and software costs and professional and other services expense as well as higher personnel costs from an additional working day in the recent quarter.

•The allowance for loan losses as a percent of total loans declined 2 basis points to 1.51% at September 30, 2026.

•In the recent quarter, M&T repurchased 1.3 million shares of its common stock at a total cost of $323 million. M&T's CET1 capital ratio is estimated to be 10.16% at September 30, 2026.

Chief Financial Officer Commentary

"M&T's third quarter results were highlighted by strong loan and deposit growth, stable credit and a solid capital position. Fee income in the recent quarter continues to reflect the breadth of M&T's franchise and our ability to meet customers' evolving needs through a wide range of financial capabilities. The continued strength across customer-driven revenue streams demonstrates the value of our diversified business model and the depth of our customer relationships. These relationships are at the heart of our purpose, to make a difference in people's lives. I want to thank our employees for their ongoing commitment to the communities and customers we serve."

- Daryl N. Bible, M&T's Chief Financial Officer

Contact:

Investor Relations: Rajiv Ranjan716.842.5138

Steve Wendelboe716.842.5138

Media Relations: Frank Lentini 929.651.0447

Third Quarter 2026 Results

Financial Reporting Matters

As reported on M&T's Form 8-K dated September 28, 2026, effective for the third quarter of 2026 M&T made certain changes and reclassifications to Other income categories presented in its Consolidated Statement of Income. Also effective for the third quarter of 2026, M&T began separately presenting loans held for sale from loans held for investment in its Consolidated Balance Sheet and its Average Balance Sheet and Annualized Taxable-equivalent Rates disclosures. Accordingly, annualized taxable-equivalent rates for each impacted loan category and certain loan-based credit quality ratios exclude loans held for sale. Additionally, as reported in M&T's Form 10-Q for the quarter ended June 30, 2026, in conjunction with the implementation of a new general ledger platform during the second quarter of 2026, the Company modified its methodology for calculating annualized taxable-equivalent rates for certain earning assets and interest-bearing liabilities, including certain average deposit ba