BUFFALO, N.Y., Jan. 16, 2026 -- M&T Bank Corporation ("M&T" or "the Company") reports quarterly net income of $759 million or $4.67 of diluted earnings per common share and full-year net income of $2.85 billion or $17.00 of diluted earnings per common share.
(Dollars in millions, except per share data) | 4Q25 | 3Q25 | 4Q24 | 2025 | 2024 | |||||
Earnings Highlights | ||||||||||
Net interest income | $ 1,779 | $ 1,761 | $ 1,728 | $ 6,948 | $ 6,852 | |||||
Taxable-equivalent adjustment | 11 | 12 | 12 | 44 | 50 | |||||
Net interest income - taxable-equivalent | 1,790 | 1,773 | 1,740 | 6,992 | 6,902 | |||||
Provision for credit losses | 125 | 125 | 140 | 505 | 610 | |||||
Noninterest income | 696 | 752 | 657 | 2,742 | 2,427 | |||||
Noninterest expense | 1,379 | 1,363 | 1,363 | 5,493 | 5,359 | |||||
Net income | 759 | 792 | 681 | 2,851 | 2,588 | |||||
Net income available to common shareholders - diluted | 718 | 754 | 644 | 2,699 | 2,449 | |||||
Diluted earnings per common share | 4.67 | 4.82 | 3.86 | 17.00 | 14.64 | |||||
Return on average assets - annualized | 1.41 % | 1.49 % | 1.28 % | 1.35 % | 1.23 % | |||||
Return on average common shareholders' equity - annualized | 10.87 | 11.45 | 9.75 | 10.27 | 9.54 | |||||
Average Balance Sheet | ||||||||||
Total assets | $ 212,891 | $ 211,053 | $ 211,853 | $ 210,645 | $ 211,220 | |||||
Interest-bearing deposits at banks | 17,964 | 17,739 | 23,602 | 18,767 | 27,244 | |||||
Investment securities | 36,705 | 36,559 | 33,679 | 35,778 | 30,755 | |||||
Loans | 137,600 | 136,527 | 135,723 | 136,103 | 134,717 | |||||
Deposits | 165,057 | 162,706 | 164,639 | 163,107 | 163,423 | |||||
Borrowings | 14,619 | 15,633 | 14,228 | 14,671 | 15,523 | |||||
Selected Ratios | ||||||||||
(Amounts expressed as a percent, except per share data) | ||||||||||
Net interest margin | 3.69 % | 3.68 % | 3.58 % | 3.67 % | 3.58 % | |||||
Efficiency ratio (1) | 55.1 | 53.6 | 56.8 | 56.0 | 56.9 | |||||
Net charge-offs to average total loans - annualized | .54 | .42 | .47 | .41 | .41 | |||||
Allowance for loan losses to total loans | 1.53 | 1.58 | 1.61 | 1.53 | 1.61 | |||||
Nonaccrual loans to total loans | .90 | 1.10 | 1.25 | .90 | 1.25 | |||||
Common equity Tier 1 ("CET1") capital ratio (2) | 10.84 | 10.99 | 11.68 | 10.84 | 11.68 | |||||
Common shareholders' equity per share | $ 173.49 | $ 170.43 | $ 160.90 | $ 173.49 | $ 160.90 | |||||
(1) A reconciliation of non-GAAP measures is included in the tables that accompany this release. | ||||||||||
(2) CET1 capital ratio at December 31, 2025 is estimated. | ||||||||||
Financial Highlights
- Taxable-equivalent net interest income increased $17 million in the recent quarter as compared with the third quarter of 2025 reflecting loan and deposit growth.
- Average loans in the recent quarter reflect commercial and industrial, residential real estate and consumer loan growth, partially offset by a nominal reduction in the average balance of commercial real estate loans.
- Noninterest income reflects higher mortgage banking revenues and trust income in the recent quarter, more than offset by a $28 million distribution of an earnout payment related to the Company's 2023 sale of its Collective Investment Trust ("CIT") business, a $20 million distribution from M&T's investment in Bayview Lending Group LLC ("BLG") and a $12 million gain on the sale of equipment leases each in the third quarter of 2025.
- The increase in noninterest expense reflects higher professional and other services expense, partially offset by lower salaries and employee benefits expense. A decline in FDIC assessments resulting from a decrease in the FDIC's loss estimate associated with certain failed banks was offset by a $30 million contribution to The M&T Charitable Foundation.
- Reflecting better asset quality metrics and modestly improved macroeconomic forecasts, the allowance for loan losses as a percent of total loans declined 5 basis points to 1.53% at December 31, 2025.
- In 2025 M&T increased its quarterly dividend by 11%, repurchased 9% of its outstanding shares and grew tangible equity per common share by 7%. M&T's CET1 capital ratio is estimated to be 10.84% at December 31, 2025.
Chief Financial Officer Commentary
"M&T finished 2025 with another quarter of strong financial performance. For the full-year 2025, M&T achieved a 16% increase in diluted earnings per common share, meaningfully reduced its level of criticized loans and improved its efficiency ratio while continuing to expand and improve our capabilities. M&T's fundamentals remain strong, positioning the Company for growth as we enter the new year. As we close out 2025, I'd like to thank my colleagues for their unwavering commitment to our customers and the communities we serve."
- Daryl N. Bible, M&T's Chief Financial Officer
This News is brought to you by Qube Mark, your trusted source for the latest updates and insights in marketing technology. Stay tuned for more groundbreaking innovations in the world of technology. |
