M&T Bank : Presentation (cae05c)

Published: 2026-05-01 16:23:19 ET MTB

Published on 05/01/2026 at 04:23 pm EDT

Investor Update 2nd Quarter 2026

MAY 2026

We are M&T Bank

We are committed to

Our Customers

Delivering the people, capital and ideas that empower our customers in the moments that matter most in their lives.

Our Communities

M&T is a

bank for communities, an engine for local economic development

through relationship-building.

Our Colleagues

We empower our employees to be the best versions of themselves through integrity

and empathy.

Our Shareholders

We deliver reliable results anchored by a strong balance sheet that protects and

builds investor value across economic cycles.

2026 Enterprise Priorities

Operational Excellence

Deliver industry-leading service, scale, and value through intelligent, simplified operations that empower the businesses and clients we support and help us to maintain and improve the bank's profitability.

Teaming for Growth

Alignment and integration across markets, lines of business, and platform capabilities will accelerate regional bank growth.

Objectives

Build scalable infrastructure that enables sustainable growth

Deliver consistent, fast, and customer centric experiences across the enterprise

Drive operational efficiency while maintaining quality and risk standards

Strengthen critical skills and leadership capabilities for a modern organization

Objectives

Make it easy for clients to do business with us

Ensure all markets and clients experience us as one bank

Empower leaders to lead across businesses

Win in the markets and businesses where we operate

Drive more integration and collaboration in service of growth

Outcomes

Grow revenue per employee through productivity and capacity redeployment

Faster completion of essential processes

Improve customer satisfaction scores

Enhanced employee engagement results regarding tools and resources needed to do the job

Outcomes

Primary checking account and deposit growth

New England regions lead in deposit and loan growth

Increased revenue per Relationship Manager

Increased Wealth referral volume and penetration

Top 5 SBA ranking in New England markets

Increased Mortgage Originations

Record Earnings

$17.20 (+16% YoY)

Net Operating EPS

$2.9 Billion (+10% YoY)

Net Operating Income

Return Focused

15.36%

Return on Tangible Common Equity

1.43%

Return on Tangible Assets

Returned Capital to Shareholders

of Outstanding Shares Repurchased in 2025

11%

Increase in Quarterly Dividend

Record Noninterest Income, Disciplined Expenses

56%

Efficiency Ratio

$2.7 Billion (+13% YoY)

Noninterest Income

Top Quartile NIM, while Growing Loans

6% YoY

Growth in non-CRE Loans

3.67%

Net Interest Margin

Improved Asset Quality

-27% YoY

Decline in Criticized Loans

-26% YoY

Decline in Nonaccrual Loans

Note: Represents FY2025 results. YoY growth metrics represent FY2025 vs FY2024.

ROTA(1)

FY25

Net Interest Margin

FY25

Efficiency Ratio(1)

FY25

PPNR / RWA(1)

FY25

NCO / Loans

FY25

Peer 1 MTB

Peer 2

Peer 3

Peer 4

Peer 5

Peer 6

Peer 7

Peer 8

Peer 9

Peer 10

Peer 11

1.43%

MTB

Peer 1

Peer 2

Peer 3

Peer 4

Peer 5

Peer 6

Peer 7

Peer 8

Peer 9

Peer 10

Peer 11

3.67%

MTB

Peer 1

Peer 2

Peer 3

Peer 4

Peer 5

Peer 6

Peer 7

Peer 8

Peer 9

Peer 10

Peer 11

MTB

56.0%

Peer 1

Peer 2

Peer 3

Peer 4

Peer 5

Peer 6

Peer 7

Peer 8

Peer 9

Peer 10

Peer 11

2.6%

Peer 1

Peer 2

Peer 3

Peer 4

Peer 5

Peer 6 MTB

Peer 7

Peer 8

Peer 9

Peer 10

Peer 11

0.41%

Source: S&P Global Market Intelligence and company filings See Appendix for list of peers

See Appendix for reconciliation of GAAP with these non-GAAP measures

11%

Increase in Quarterly Dividend in 3Q25

10%

Outstanding Shares Repurchased in Last 12 Months

TBVPS YoY Growth since 3/31/2025

3.8% to 2.7%

Decline in SCB

CET1 Ratio incl. AOCI(1)

3/31/2026(2)

Tangible Common Equity / Tangible Assets

Highlights

Capital levels favorable to peers when considering AOCI

March 2026 Capital Proposal: CET1 capital ratio at the end of 4Q25 would have increased an estimated +90 +/- bps under the standardized approach and an additional

+10-20 bps under the expanded risk-based approach, excluding the impact of AOCI

4 basis point benefit, as of 3/31/2026, if including AOCI in regulatory capital(1)

Expect CET1 ratio of 10% to 10.5% in 2026

Maintain share repurchase flexibility

Increased quarterly dividend per share 11%

from $1.35 to $1.50 in 3Q25

Expect continued annual dividend growth

3/31/2026

Peer 1 MTB

Peer 2

Peer 3

Peer 4

Peer 5

Peer 6

Peer 7

Peer 8

Peer 9

Peer 10

Peer 11

Peer 12

11.2%

10.4%

10.0%

~1.0% vs Peer

Median

9.9%

9.6%

9.4%

9.3%

9.2%

8.8%

8.7%

Peer 1

Peer 2 MTB

Peer 3

Peer 4

Peer 5

Peer 6

Peer 7

Peer 8

Peer 9

Peer 10

Peer 11

Peer 12

8.4%

8.3%

~0.8% vs Peer Median

8.3%

8.0%

7.8%

7.7%

7.5%

7.4%

7.3%

7.2%

7.1%

7.0%

6.5%

Proposal would require regulatory capital to include unrealized gains / (losses) on AFS securities and pension-related effects

Five peers as-of 12/31/2025, due to data availability

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 continue

Expect to reach 17% ROTCE in 2027 as CET1 trends to 10%; does not include incremental impact of March Capital Proposals

Return on Tangible Assets Return on Tangible Common Equity

1.42%

1.30%

1.04%

1.43%

1.03%

1.25% Long-Term Target(1)

1.17%

17.6%

17.7%

12.8%

14.5%

16.6% 17% Long-Term Target (1)

15.8%

15.4%

12.7%

10.6%

2023 2024 2025

(1) 3-Year average ROTA and ROTCE above 1.25% and 17% thresholds results in a 150% of target payout on Performance-Vested Stock Units ("PVSU")

Grew average loans, excluding CRE, by 6% in both 2024 and 2025; demonstrating M&T's diversified portfolio

Reduced CRE by $9.5B or -15% CAGR from 2023 to 2025 Grew non-CRE loans by 1.3% QoQ in 1Q26; ~5.1% annualized

Average Loans ($, B)

$132.7 $134.7 $136.1

$25.0

$138.4

$23.5

Non-CRE

CRE

C&I

$34.5

$98.2

$54.2

+6%

$30.2

$104.5

$58.9

+6%

$111.1

$61.5

$114.9

$63.8

Residential Real Estate

$23.6

$23.1

$24.0

$24.8

$20.4

$22.5

$25.6

$26.3

2023

2024

2025

1Q26

Consumer

Solid growth in all fee categories

Mortgage aided by residential subservicing and commercial originations

Trust income growth from both Institutional Services and Wealth, including AUM growth

Fees related to our capital markets business also supported YoY growth

Increased noninterest income as a % of total revenue from 26% to 28%

1Q26 fee income +13% YoY with broad based growth across categories

Managed sequential improvement in the efficiency ratio while making significant enterprise investments that will allow M&T to thrive in the years to come

Recent enterprise investments include Finance Modernization (general ledger replacement), data centers and cloud migration, and credit delivery

Other Revenues Trading / Deriv.

Brokerage

Trust

$475

Service Charges

Mortgage

Noninterest Income ($, MM)

Excluding Securities G/L and Notable Items

+5%

$675

$632

+11%

$724

$673

$680

$584

$2,299 $2,417

$514

$2,687

Efficiency Ratio

54.9%

56.0%

56.9%

59.3%

60.5%

62.1%

$436

$409

$550

$551

2023 2024 2025

MTB Peer Median

Consistent improvement in credit quality; 43% reduction in nonaccrual and 48% reduction in criticized loans since 2023

Nonaccrual Loans % of Total Loans at lowest levels since 2007

Nonaccrual Loans ($, MM) Criticized Commercial Loans ($, MM)

$2,166

-22%

$1,690

-26%

$1,252

$1,240

0.89%

0.90%

1.25%

1.62%

$12,579

-21%

$9,915

-27%

$7,258

$6,552

7.4%

8.3%

11.2%

14.0%

2023 2024 2025 1Q26

Strength on both loan pricing and deposit cost… …drives NIM outperformance

Loan Yield NIM

MTB

Peer 75th %-tile

Peer 25th %-tile

6.1%

6.0%

5.7%

6.5%

6.0%

5.5%

5.0%

4.5%

4.0%

3.5%

4.0%

3.7%

3.2%

2.9%

3.5%

3.0%

2.5%

3.0%

2020 2021 2022 2023 2024 2025

2.0%

2020 2021 2022 2023 2024 2025

Total Deposit Cost Risk Adjusted NIM(1)

2.5%

4.0%

2.0%

1.5%

1.0%

0.5%

3.5%

3.4%

3.1%

2.7%

3.0%

2.5%

0.0%

2.0%

1.7%

2020 2021 2022 2023 2024 2025

2.0%

2020 2021 2022 2023 2024 2025

(1) Taxable Equivalent NII less Net Charge-offs as a percent of Average Earning Assets

MTB

Peer 75th %-tile

Peer 25th %-tile

NIM outperformance combined with fee income and efficiency drives profitability outperformance

PPNR / RWA ROTA

3.0% 2.0%

2.6%

2.3%

1.4%

1.3%

1.0%

2.5% 1.5%

1.8%

2.0% 1.0%

1.5% 0.5%

1.0%

2020 2021 2022 2023 2024 2025

0.0%

2020 2021 2022 2023 2024 2025

MTB

Peer 75th %-tile

Peer 25th %-tile

Profitability outperformance also combined with consistent and strong Dividend and TBVPS growth

Company

Cumulative Div Growth

Peer 1

66.1%

Peer 2

43.5%

Peer 3

42.6%

MTB

29.5%

Peer 4

29.4%

Peer 5

21.4%

Peer 6

15.6%

Peer 7

10.8%

Peer 8

10.3%

Peer 9

4.4%

Peer 10

3.3%

Peer 11

0.0%

Median (excl. MTB)

15.6%

Cumulative Dividend Per Share Growth

36%

30%

40%

30%

20%

10%

2020 2021 2022 2023 2024 2025

Cumulative TBVPS Growth

50.0%

40.0%

30.0%

20.0%

10.0%

0.0%

(10.0)%

(20.0)%

(30.0)%

(40.0)%

45.9%

Company

Cumulative TBVPS Growth

MTB

45.9%

Peer 1

38.8%

Peer 2

25.0%

Peer 3

17.8%

Peer 4

17.4%

Peer 5

16.4%

Peer 6

16.2%

Peer 7

15.5%

Peer 8

11.9%

Peer 9

3.4%

Peer 10

1.2%

Peer 11

(2.9%)

Median (excl. MTB)

16.2%

17.6%

7.7%

2020 2021 2022 2023 2024 2025

Key Points

Better than Peer PPNR Generation & Credit Losses

Aided by NIM, efficiency and credit loss outperformance

Consistent Profitability Advantage

Over the past 5-, 10-, and 20-years, M&T maintained a 19 to 31 basis point ROTA advantage compared to the peer median

Results in Normalized ROTCE Advantage

Equates to a ~2.4% to ~4.1% normalized ROTCE advantage

compared to peers assuming normalized capital levels

ROTA Considered in Long-Term Incentives

Recent Performance Vested Stock Units grants include a 1.25% absolute ROTA threshold

Net Operating ROTA(1)

1.36% 1.36%

1.30%

+31bps

+19bps

1.17%

+19bps

1.17%

0.99%

MTB

Peer

Median

20-Years 2006-2025

10-Years 2016-2025

5-Years 2021-2025

(1) See Appendix for reconciliation of GAAP with these non-GAAP measures

$140

$120

$100

$80

$60

Tangible Book Value Per Share

$117.45

CAGR - TBVPS Growth plus Dividends

12.2%

MTB: 7.8% CAGR

Peer Median: 2.9% CAGR

Peer Median

MTB

10.4%

9.6%

8.5%

7.8%

5.4%

$40 $25.91

$20

2005 2010 2015 2020 2025

Dividend Per Share

MTB: 6.1% CAGR

Peer Median: 0.6% CAGR

$1.75

Key Points

Consistently Delivering Value and Growth

Consistent dividend and TBVPS growth compared to peers

Results in higher than peer CAGR for TBVPS growth plus dividends over 5-, 10-, and 20-years

Increased quarterly per share dividend from $1.35 to $1.50 in 3Q25

Expect continued annual dividend growth

$6 $5.70

2005 2010 2015 2020 2025

20-Years YE05-YE25

10-Years YE15-YE25

5-Years YE20-YE25

Loans

$140 to $142 billion

Point to point growth in each loan portfolio

Positive momentum in C&I and CRE in early 2Q

Deposits

$165 to $167 billion

Focus on growing operational accounts and other customer deposits at a reasonable cost

CET1 Capital Ratio

10.0% to 10.5%

Average Balances

2026 Outlook Comments

Income Statement

Net Interest Income

$7.2 to $7.35 billion

Bottom half of the range for NII translates to NIM in the high 3.60s

Taxable-equivalent

Range dependent on loan growth, deposit trends, and shape of the yield curve

Fee Income

$2.675 to $2.775 billion

Trending above top end of the range

Broad-based growth across fee types and business lines

GAAP Expense

$5.5 to $5.6 billion

High end of the range

Includes intangible amortization

Continued investment in enterprise initiatives and well-managed non-investment spend

Net Charge-Offs

40 basis points +/-

% of Average Loans

Tax Rate

24.0% +/-

Taxable-equivalent

Purpose-Driven Successful and Sustainable Business Model that Produces Strong Shareholder Returns

Purpose Driven

Organization

Long term focused with deeply embedded culture

Business operated to represent the best interests of all key stakeholders

Energized colleagues consistently serving our customers and communities

A safe haven for our clients as proven during turbulent times and crisis

Successful and

Business Model

Experienced and seasoned management team

Strong risk controls with long track record of credit outperformance through cycles

Leading position in core markets

Sustainable

Strong

Returns

15-17% ROTCE(1)

Robust dividend growth

8% TBV per share growth(2)

Shareholder

Source: FactSet, S&P Global, Company Filings

(1) ROTCE range comprises 5 years of the trailing 3-year ROTCE from 2020-2025, consistent with M&T's measurement of ROTCE for performance-based stock compensation

(2) TBV per share growth represents CAGR from 2020-2025

Appendices

2021

2022

2023

2024

2025

1Q26

Superior Pre-Credit Earnings

Net Interest Margin

2.76%

3.39%

3.83%

3.58%

3.67%

3.71%

Efficiency Ratio (1)

59.0%

56.6%

54.9%

56.9%

56.0%

58.3%

PPNR ($, Millions) (1)

$2,445

$3,471

$4,232

$3,979

$4,150

$999

PPNR to RWA (1)

2.3%

2.7%

2.8%

2.6%

2.5%

Strong Credit Metrics

Allowance to Loans (As At)

1.58%

1.46%

1.59%

1.61%

1.53%

Net Charge-Offs to Loans

0.20%

0.13%

0.33%

0.41%

0.31%

Focused on Returns

Net Operating Return on:

Tangible Assets (1)

1.28%

1.35%

1.42%

1.30%

1.43%

1.33%

Tangible Common Equity (1)

Consistent Capital Generation (As At)

16.80%

16.70%

17.60%

14.54%

15.36%

14.51%

Tangible Common Equity to Tangible Assets

7.68%

7.63%

8.20%

9.07%

8.70%

8.26%

Common Equity Tier 1 Ratio

11.42%

10.44%

10.98%

11.68%

10.84%

10.33%

Tier 1 Capital Ratio

13.11%

11.79%

12.29%

13.21%

12.59%

11.81%

Balance Sheet (As At)

Loans to Deposits

70.63%

80.46%

82.11%

84.16%

83.10%

85.45%

Securities to Assets

4.61%

12.56%

12.91%

16.36%

17.17%

17.99%

(1) See Appendix 1 and 2 for reconciliation of GAAP with these non-GAAP measures

Disclaimer

M&T Bank Corporation published this content on May 01, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 01, 2026 at 20:22 UTC.